Monday, December 10, 2007

Sultanate, Vietnam plan joint ventures

MUSCAT — Maqbool bin Ali Sultan, minister of commerce and industry, received in his office here yesterday Nguyen Sinh Hung, deputy prime minister of Vietnam; and a delegation accompanying him, currently visiting the Sultanate.

The two sides discussed the possibility of setting up joint ventures. The Vietnamese side called upon the private sector in the Sultanate to invest in Vietnam, as the country possesses considerable human, industrial and agricultural resources.

The two sides proposed the creation of an investment fund to study financing joint ventures between the Sultanate and Vietnam.

The two sides also discussed the importance of signing mutual investment protection agreements in addition to other agreements such as avoidance of double taxation and agreements which support joint ventures between the two countries.

The meeting was attended by a number of officials at the Ministry of Commerce and Industry, Oman Oil Company and Omani Centre for Investment Promotion and Exports Development (Ociped).

l Dr Mohammed bin Hamad Al Romhi, minister of oil and gas, also received in his office yesterday Nguyen Sinh Hung and his delegation.

The meeting dealt with bilateral relations and cooperation, especially in the filed of oil and gas, in addition to the latest developments in international oil markets.

The meeting was attended by Nasser bin Khamis Al Jashmi, undersecretary at the Ministry of Oil and Gas, and a number of officials at the ministry.