Politics

Ambassador calls for foreign investment in oil and gas

Vietnamese Ambassador to the US Pham Quang Vinh has introduced the growth and potential of Vietnam’s oil and gas sector as well as opportunities for foreign investors during the Offshore Technology Conference (OTC) 2015 in the US’s Houston city.

Vietnamese Ambassador to the US Pham Quang Vinh has introduced thegrowth and potential of Vietnam’s oil and gas sector as well asopportunities for foreign investors during the Offshore TechnologyConference (OTC) 2015 in the US’s Houston city.

Hehighlighted the country’s oil and gas competitiveness, reserve, marketcoverage, as well as the industry’s performance, capacity and experienceof the Vietnam Oil and Gas Group (PetroVietnam) in internationalcooperation.

He affirmed the Vietnamese Government’ssupport to the sector and preferential policies for foreign investorsin the field.

The ambassador called on investors toexpand investments in Vietnam’s offshore oil and gas production on thewin-win basis and in conformity with international law and the 1982United Nations Convention on the Law of the Sea.

This was the first time Vietnam has been invited to address a plenarysession of OTC, the world largest annual event in the field of oil andgas that gathered world leading players in the area.

During his stay in Houston, Ambassador Vinh also attended a receptionjointly held by the Vietnam Consulate General in Houston andPetroVietnam on the occasion of the 40 th anniversary of PetroVietnam,and a dialogue with US energy firms.

He pointed toplentiful investment and partnership opportunities for US enterprises inVietnam, expressing his belief that the sound politic-diplomaticrelations between the two countries will fuel bilateral trade ties,especially in energy.-VNA

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