10/05/2015 10:43 GMT+7 Email Print Like 0

Ambassador calls for foreign investment in oil and gas

Washington DC, May 9 (VNA) – 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.

He highlighted the country’s oil and gas competitiveness, reserve, market coverage, as well as the industry’s performance, capacity and experience of the Vietnam Oil and Gas Group (PetroVietnam) in international cooperation.

He affirmed the Vietnamese Government’s support to the sector and preferential policies for foreign investors in the field.

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

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

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

He pointed to plentiful investment and partnership opportunities for US enterprises in Vietnam, expressing his belief that the sound politic-diplomatic relations between the two countries will fuel bilateral trade ties, especially in energy.
VNA/VNP