Vietnam, Oman Sign Investment Protection Pact
Vietnamese Minister of Planning and Investment Vo Hong Phuc and Oman Minister of Industry and Trade Maqbool Ali Sultan signed an investment protection pact in Hanoi on Jan 10 to boost investment cooperation between two sides.
Addressing the event, Phuc said the agreement will create a strong legal framework for businesses of two sides and help strengthen confidence of the two countries’ firms in their projects.
The pact is expected to boost bilateral investment ties in the coming years, Phuc added.
On the same day, the Vietnam Chamber of Commerce and Industry (VCCI) and its Omani counterpart signed a deal to establish Vietnam-Oman Business Council.
The council will work as a bridge for the two countries to exchange information on economic, trade and investment policies, so they can set proposals to the governments to remove difficulties and develop bilateral relations, VCCI Vice Chairman Doan Duy Khuong said.
Meanwhile, Chairman Oman Chamber of Commerce and Industry, Abdulla Al Khonji said he hoped that the council will begin operations this year, to facilitate cooperation plans, especially in finance, banking, tourism, real estate, oil and gas, and thermoelectric power.
Vietnam and Oman set diplomatic ties in 1992 but the latter’s investment to former remained modest with only one project with total pledged capital of $5 million, ranking the 71st among investors in Vietnam. (Vietnamplus)
Vietnamese
