Vietnam president to sign 3 agreements during visit
THREE memorandums of
understanding (MoUs) are expected to be signed throughout the three-day visit
of Vietnamese President Truong Tan Sang to Brunei, the republic's envoy to
Brunei said yesterday.
His Excellency Nguyen Truong
Giang, the ambassador of Vietnam to Brunei Darussalam, told The Brunei Times
that two of the MoUs are likely to be signed at the Istana Nurul Iman (Royal
Palace) when the Vietnamese leader arrives in the Sultanate today.
The MoUs will be signed between
Petroleum Brunei and PetroVietnam and the Autoriti Monetari Brunei Darussalam
(AMBD) and the Vietnam State Bank, he said.
The third MoU, which will be
undertaken between the National Chamber of Commerce and Industry of Brunei
Darussalam and the Viet Nam Chamber of Commerce and Industry, will be signed on
November 28 at the Empire Hotel & Country Club, during which he is also
expected to attend a business forum, the ambassador added.
He said further details of the
MoUs were not available as of press time.
The Vietnamese leader is also
expected to visit the Brunei Shell Headquarters in the Belait District on
November 28.
In the afternoon of the same day,
President Sang will be attending a business forum which will see discussions on
business and investment opportunities in Brunei and Vietnam. He is expected to
leave the country on November 29.
In an earlier interview with The
Brunei Times last week, Giang said cooperation between the two countries have
been constantly "improving", particularly in the areas of labour,
education, culture and defence, as this year marked the 20th anniversary of
diplomatic relations between Brunei and Vietnam.
In 2011, two-way trade turnover
reached over US$200 million, which Giang said was "a big jump, considering
that many years ago, the turnover was only about US$4.3 million".
He said the Vietnamese government
expects the trade relations will continue to grow.
He pointed out that only a few
Bruneian joint-venture companies have invested in Vietnam's manufacturing
sector, which illustrates the limited investment activities between the two
countries.
Giang also said that one area of
great interest for Vietnam is agricultural collaboration, as it is keen on
providing assistance to Brunei in its drive to become self-sufficient in food,
particularly in rice cultivation.
According to a tentative
programme provided by the Vietnam embassy in Brunei, the president's state
visit will lean towards encouraging growth of the existing bilateral trade with
Brunei, and to reaffirm the importance of continuing to create favourable
investment conditions for investors from both countries.
Talks to establish a bilateral
agreement on investment encouragement and protection in the near future is also
expected to take place. Discussions will also revolve around potential areas
such as labour, oil and gas, education, agriculture, fisheries and tourism.
Brunei and Vietnam signed the
Agreement between the Authority Monetary of Brunei Darussalam (AMBD) and the
State Bank of Vietnam and Memorandum of Understanding (MoU) on the field of Oil
and Gas between Petroleum Brunei and Petrovietnam.
FITRI SHAHMINAN
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