PM suggests Kuwait expand investment in VN's oil and gas sector
VGP – PM Nguyen Xuan Phuc called on Kuwait to expand investment in oil and gas sector in Viet Nam his reception for Kuwaiti Oil Minister Khaled Ali Al Fadhel in Ha Noi on September 3.
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PM Nguyen Xuan Phuc (R) receives Kuwaiti Minister of Oil and Electricity and Water Khaled Ali Al Fadhel, Ha Noi, September 3, 2019 - Photo: VGP/Quang Hieu |
At the meeting, the Government chief expressed his delight at the positive growth of the two countries' ties, especially both sides have inked a number of cooperative agreements to create a legal framework for boosting investment.
The two-way trade value hit US$2.7 billion, of which Viet Nam spent US$2.6 billion on importing crude oil from Kuwait for the Nghi Son oil refinery and petrochemical plant - the biggest refinery project in the Southeast Asian country.
Phuc hailed Kuwait as one of the three investors of the plant, which came into operation in November last year and has met nearly 40% of domestic fuel demand.
The Vietnamese Government commits to creating favorable conditions for the project in line with the nation’s laws and regulations, asserted Phuc.
Minister Khaled Ali Al Fadhel expressed thanks to the Vietnamese PM and Government for supporting the project, affirming that Kuwaiti investors will join hands with the Vietnamese and Japanese partners to operate the project effectively.
He also briefed the host about the outcomes of his working sessions with the Vietnamese Ministry of Industry and Trade and other functional agencies on various fields, including trade./.
By Thuy Dung
