PVN

PetroVietnam participates in the indirect investment promotion conference in the United Kingdom

11/07/2019

From 2nd to 5th July 2019, PetroVietnam delegation led by Vice President Nguyen Xuan Hoa participated in the indirect investment promotion conference in the United Kingdom. The conference was chaired by Minister of Finance Dinh Tien Dzung.

Vietnam and the United Kingdom have established diplomatic relations for the past 45 years. In the current period, according to Mr. Gareth Ward - Ambassador of the United Kingdom to Vietnam, “the relationship between the two countries is in the best period, specific areas of cooperation have achieved many positive results”. Regarding investment, the United Kingdom is currently ranked 16th out of 130 countries and territories investing in Vietnam with a total registered capital of about 3.75 billion USD by 2018. This is an opportunity and good premise for promoting indirect investment between the two markets, opening up opportunities for promoting the development of Vietnam and UK financial markets.

PetroVietnam delegation attended the Conference

With the theme "Investment in Vietnam", the Investment Promotion Conference was organized by the Ministry of Finance in collaboration with the Ministry of International Trade, represented by the UK ASEAN Business Council (UKABC). It aimed to promote Vietnamese capital market, with expectations of investment and strong growth potential in the coming years.

Attending the Conference were Mr. Ed Vaizey – the British Prime Minister’s Trade Envoy to Vietnam, Mr. William Russell - Mayor of London Financial Center, Mr. Gareth Ward - Ambassador of the United Kingdom to Vietnam, Mr. Tran Ngoc An - Vietnamese Ambassador to UK and a large number of UK and Vietnamese organizations, businesses, investors, large investment funds such as Ashmore, HSBC AM, JP Morgan, Swiss Re Group, RBC Global Asset Management, Amundi Asset Management.

Vice President Nguyen Xuan Hoa participated in the 2nd Dialogue Session to exchange experiences on enterprise equitization.

Minister Dinh Tien Dzung introduced Vietnam with strong economic growth and a stable politics, policy reform, economic restructuring, equitization of state enterprises and sustainable development of Vietnam's stock market. The Government of Vietnam has constantly improved and supplemented mechanisms and policies to promote the renovation of the SOE sector, in which the mechanism of SOE equitization and state divestment in enterprises has been paid special attention to ensuring the principles of law compliance, market, publicity and transparency.

One of the highlights of the Conference was two direct policy dialogues among foreign investors, financial management agencies and some big Vietnamese enterprises. The parties exchanged openly on macro policies for capital market, tax stock market, sharing experiences on investment in Vietnam, equitizing enterprises…

Also during the trip, PetroVietnam Vice President Nguyen Xuan Hoa and BSR, PV Oil, PV Power has a meeting with HSBC, UK Export Finance on PetroVietnam’s ability to arrange capital for projects.

At the meeting with Shell Group, the two sides exchanged opportunities for cooperation that Shell would be able to participate in LNG terminal projects, crude oil trading and technical consultancy during construction of the project for upgrading and expanding Dung Quat oil refinery, technical assistance. Mr. Douglas Buckley - Vice President in charge of global projects reaffirmed his desire to cooperate with PetroVietnam and support PetroVietnam as much as possible. At the same time, he updated the contents that were being implemented after the high-level meeting with Mr. Tran Sy Thanh - PetroVietnam Chairman of the Board of Directors in May 2019.