Vietnam, Egypt increase investment cooperation

Vietnam and Egypt are committed to seeking investment and promoting trade, said Deputy Foreign Minister Doan Xuan Hung at the recent Vietnam-Egypt Business seminar.

During his recent visit to Suez province where he met Mayor Mohmmed Hasher, Doan Xuan Hung, who is also the Prime Minister’s special envoy, affirmed his wish to promote cooperation with Egypt, including Suez province in the interests of both nations. He said that the Vietnam National Oil and Gas Group is willing to invest in the oil and gas field in Suez province, adding that Egypt will be given top priority in Vietnam’s plans for cooperation with the African region.

Mr Hung said Vietnam considers Egypt a leading partner in Africa while Vietnam is Egypt’s top partner in Asia. Two-way trade turnover will increase sharply compared to the current level of US$200 million. He called on Egyptian businesses to further invest in Vietnam.

For his part, Mayor Suez Mohmmed Hasher affirmed that Vietnam is a symbol in the struggle for independence and economic development. He said that Suez has played an important role in Egypt and the region, especially in such fields as oil and gas and shipbuilding. Businesses of Suez and Port Said are keen to joint efforts with Vietnamese businesses. – VOV

Tags: Vietnam Egypt cooperation

Posted by VBN on Jun 28 2011. Filed under Int'l Cooperation, Investment. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry