PM Nguyen Tan Dung to visit Brunei
Prime Minister Nguyen Tan Dung is to visit Brunei from August 15-16 on the fifth and final leg of his first trip to members of the Association of Southeast Asian Nations (ASEAN) since being re-elected last month.
His two-day itinery includes a meeting with Sultan Hassanal Bolkiah, talks with representatives from the Brunei Government and a visit to oil and gas establishments of the Brunei-Shell Petroleum (BSP) joint venture.
PM Dung also plans to attend a Bruney-Viet Nam business forum, which is expected to boost bilateral trade now rated below the two countries’ potential.
Viet Nam and Brunei did sign a trade agreement in November, 2001 but bilateral trade revenues remained modest at 4.5 million USD in 2005 with Viet Nam’s exports making up 4.2 million USD, mostly from farm produce.
Direct investment from Brunei into Viet Nam is quite low, ranking 29 out of the country’s 74 foreign investors with 37 projects worth 125.8 million USD in total so far.
With 31 projects and a combined investment of 116 million USD, industry is Brunei’s biggest investment interest while agriculture drew just five projects capitalised at 9.6 million USD and services one project with investment of 120,000 USD.
Viet Nam is looking to the oil and gas industry to attract more investment from Brunei. Some Vietnamese businesses are also seeking investment opportunities in agriculture, seafood and animal husbandry projects in Brunei.
The two sides have also pledged to tap tourism potential by working out a detailed cooperation plan and exchange of information.
After visits to Indonesia, the Philippines and Singapore, PM Dung will go to Myanmar before arriving in Brunei.-(VNA)
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