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  Foreign Investment

Viet Nam-Malaysia workshop discusses investment opportunities

Viet Nam's policies and environment for foreign investment, policies on development of the oil and gas industry, and cooperation opportunities between Viet Nam and Malaysia are the main topics at a workshop held in Ha Noi on Monday.

The workshop entitled "Malaysia-Viet Nam: Opportunities for investment and business in construction" was jointly organised by the Ministry of Planning and Investment's Foreign Investment Department and Malaysia's Commerce Bureau in Viet Nam.

It dealt with prospects of international cooperation, banks' policies and support for investment and development in Viet Nam.

Addressing the event, Director of the Foreign Investment Department Phan Huu Thang affirmed Viet Nam's persistent and stable policy to attract foreign investment. Viet Nam has become familiar to Malaysian investors, he said, adding that by the end of September 2004, Malaysia had 158 effective foreign direct investment projects in Viet Nam with a total registered capital of more than 1.25 billion USD.

Malaysia now ranks 10th among 66 countries and territories having invested in Viet Nam, third among ASEAN countries and eight among APEC economies.

Tran Quy Trung, Deputy Director General of the Bank for Investment and Development of Viet Nam (BIDV), said his bank has created favourable conditions for businesses of all economic sectors to get loans in accordance with regulations of the Government and the State Bank of Viet Nam. In particular, BIDV has granted loans to some joint ventures between Vietnamese and Malaysian companies.

The Director of the Construction Ministry's Planning Institute, Associated Professor Luu Duc Hai, introduced the renewal of the construction planning system in Viet Nam. He said the Planning Institute has cooperated with Malaysia's Planning Consultancy Company, Goh Hock Guan, to study and build an economic-technical corridor, the Ha Noi- Hai Phong - Quang Ninh, a master plan for Ha Long city and the Bai Chay bridge in Quang Ninh province, and Viet Nam's ethnic cultural village.

For his part, Deputy Director of the Service Development Department under the Viet Nam Oil and Gas Corporation (PetroVietnam) Luu Quang Truong stressed the cooperation with foreign partners, including Malaysia. He described Malaysia as a prioritised market as the two countries have a time-honoured relationship.

VNA - (28/09/2004)

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