Business

PVN introduces oil, gas projects to Japanese investors

A workshop on investment cooperation with the Vietnam Oil and Gas Group (PVN) was held in Hanoi on August 3 exclusively for Japanese investors in order to call on investment in its major projects.
A workshop on investment cooperation with the Vietnam Oil and Gas Group(PVN) was held in Hanoi on August 3 exclusively for Japaneseinvestors in order to call on investment in its major projects.

Addressingthe event PVN General Director Do Van Hau said the group needs up to 40billion USD to carry out a number of major investment projects until2015, such as infrastructure construction for the oil and gas sector.

Thereforeit is seeking investment cooperation on finance and technology withJapan in the five key production areas, namely oil and gas, exploration,oil refinery and petrochemicals, gas industry, electricity industry,and high-tech oil and gas services.

According to the PVN,it is carrying out nine major investment projects. Japan is able topurchase up to 49-percent stake in the PVN’s eight projects and 20percent of shares in the other project.

The PVN pledged toclosely work with Japanese investors as well as on specific proposals tosubmit to the Government to ensure timely solutions to difficulties andobstacles during operations.

According to Hirokazu Yamaoka,Chief Representative of the Japan External Trade Organisation (JETRO)Hanoi Office, Vietnam , with its goal of becoming an industrial countryby 2020, will continue to need assistance from Japan to achieve.

With nearly 2,000 Japanese businesses operating in Vietnam,JETRO pledges to continue promotion of and support to PVN in attractingcapital, technology and experience from Japanese firms, as well ascreating favourable conditions for the PVN to present its projects inorder to seek investment, the JETRO official said./.
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