Business
Vietnamese businesses supported to study investment opportunities in Brunei
President Tran Dai Quang and his spouse left Hanoi on August 26 for a State-level visit to Brunei from August 26-28 to mark the bilateral partnership and strengthen bilateral affiliation to potential fields of trade, investment, tourism, education-training, agriculture, oil and gas, and seafood.
President Tran Dai Quang and his spouse left Hanoi on August 26 for a State-level visit to Brunei from August 26-28 at the invitation of King Haji Hassanal Bolkiah Mu’izzaddin Waddaulah.
The visit of President Tran Dai Quang is to mark the bilateral partnership and strengthen bilateral affiliation to potential fields of trade, investment, tourism, education-training, agriculture, oil and gas, and seafood.
The visit also will help Vietnamese businesses study investment opportunities to make inroads into Brunei.
Brunei has become a potential and reliable trade partner and investor of Vietnam since the two countries established diplomatic ties in 1992.
As of June, Brunei invested in 205 projects worth over 2.18 billion USD, ranking 18th out of 116 countries and territories investing in Vietnam and the fourth in ASEAN, behind Singapore, Malaysia and Thailand.
The Ministry of Industry and Trade said the two-way trade between Vietnam and Brunei rose three-fold from 24.2 million USD in 2010 to 73.7 million USD in 2015. Vietnam mostly exports seafood and rice to Brunei and imports chemicals.
The bilateral trade reached 17 million USD in the first six months of this year. Of which, Vietnam exported 8.4 million USD worth of goods to the market, and spent 8.7 million USD chiefly importing chemicals.
According to the Vietnam Trade Office in Brunei, both countries share similar views on regional and international issues, creating a premise for the two sides to enhance cooperative ties.
Besides, as members of the Association of Southeast Asian Nations (ASEAN), Vietnam and Brunei have actively and proactively got engaged in ASEAN cooperation fields such as defining the bloc’s future development orientations and outlining major policies.
The two nations have held high-level delegation exchanges such as the visit to Brunei by President Tran Duc Luong in 2001 and by Prime Minister Nguyen Tan Dung in 2007. Brunei King Hassanal Bolkiah visited Vietnam to attend ASEAN, ASEM and APEC conferences in 1998, 2004, and 2006.
Vietnam and Brunei have signed a double taxation avoidance agreement, a Memorandum of Understanding (MoU) on sports and youths collaboration, and another on oil and gas cooperation, creating legal foundations for the bilateral partnership in the fields.
The two countries are expected to secure a cooperation agreement in cultivation and seafood farming soon.
The visit of President Tran Dai Quang is to mark the bilateral partnership and strengthen bilateral affiliation to potential fields of trade, investment, tourism, education-training, agriculture, oil and gas, and seafood.
The visit also will help Vietnamese businesses study investment opportunities to make inroads into Brunei.
Brunei has become a potential and reliable trade partner and investor of Vietnam since the two countries established diplomatic ties in 1992.
As of June, Brunei invested in 205 projects worth over 2.18 billion USD, ranking 18th out of 116 countries and territories investing in Vietnam and the fourth in ASEAN, behind Singapore, Malaysia and Thailand.
The Ministry of Industry and Trade said the two-way trade between Vietnam and Brunei rose three-fold from 24.2 million USD in 2010 to 73.7 million USD in 2015. Vietnam mostly exports seafood and rice to Brunei and imports chemicals.
Vietnam mostly exports seafood and rice to Brunei.
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According to the Vietnam Trade Office in Brunei, both countries share similar views on regional and international issues, creating a premise for the two sides to enhance cooperative ties.
Besides, as members of the Association of Southeast Asian Nations (ASEAN), Vietnam and Brunei have actively and proactively got engaged in ASEAN cooperation fields such as defining the bloc’s future development orientations and outlining major policies.
The two nations have held high-level delegation exchanges such as the visit to Brunei by President Tran Duc Luong in 2001 and by Prime Minister Nguyen Tan Dung in 2007. Brunei King Hassanal Bolkiah visited Vietnam to attend ASEAN, ASEM and APEC conferences in 1998, 2004, and 2006.
Vietnam and Brunei have signed a double taxation avoidance agreement, a Memorandum of Understanding (MoU) on sports and youths collaboration, and another on oil and gas cooperation, creating legal foundations for the bilateral partnership in the fields.
The two countries are expected to secure a cooperation agreement in cultivation and seafood farming soon.
