Saturday, 17 Nov 2018
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NEWSVIET NAM

Norway’s sovereign wealth fund urged to expand Vietnam investment portfolio

Updated at Saturday, 03 Nov 2018, 17:33
The Hanoitimes - The US$1-trillion fund, the biggest state fund in the world, has invested in major Vietnamese corporations, including Vinamilk, Military Bank, Hoa Phat Group.
At the meeting with the Norwegian Business Association (NBA) and the Government Pension Fund of Norway, Vietnamese Deputy Prime Minister Trinh Dinh Dung requested them to explore investment opportunities in Vietnam, the government portal reported. 
 
Deputy Prime Minister Trinh Dinh Dung and Norwegian Minister of Trade and Industry Torbjørn Røe Isaksen. Source: VGP.
The US$1-trillion fund, the biggest state fund in the world, has been investing in major Vietnamese corporations, including Vinamilk, Military Bank, Hoa Phat Group, according to a representative of the NBA. 

The NBA highly valued the cooperation potential with Vietnam, adding that the country is among its priority list of emerging markets for investment. The representative expected Vietnam to continue its reform process and enhance the national competitiveness. This would lay the foundation for Norwegian businesses investing in Vietnam in the fields of maritime, shipbuilding, oil exploration, fishery, among others. 

Trade turnover between Vietnam and Norway reached US$350 million, while Norway currently has 40 investment projects in Vietnam with registered capital of US$160 million, ranking 41st out of 129 countries and territories investing in Vietnam. 

In a meeting with Norwegian Minister of Trade and Industry Torbjørn Røe Isaksen and Minister of International Development Nikolai Astrup, Dung suggested Norway facilitate the signing and approval process of the Free Trade Agreement between Vietnam and the European Free Trade Association (EFTA). 

Dung expected Norway to hold a more active role promoting peace, stability and development in the Asia – Pacific region, supporting the peaceful settlement of disputes in the South China Sea, which Vietnam calls the East Sea, on the basis of international law. 
Ngoc Mai
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