Vietnam, Malaysia shore up oil and gas cooperation
The Vietnam National Oil and Gas Group had a working session with Petronas, the national oil and gas company of Malaysia, to foster the implementation of oil and gas projects between the countries.
Hanoi (VNA) – The Vietnam𒈔 National💎 Oil and Gas Group (PetroVietnam) had a working session with Petronas, the national oil and gas company of Malaysia, to foster the implementation of oil and gas projects between the two countries.
At the event, PetroVietnam General Director Nguyen Vu Truong Son spoke highly of Petronas cooperation in carrying out joint projects.
Leaders of the two companies affirmed to make concerted efforts to seek solutions to difficulties, aiming to boost the efficiency of the existing projects while seeking new cooperation opportunities.
Regarding the proposal to buy gas from Malaysia, the two sides agreed major points in the negotiations of relevant trade agreements.
The event took place during a recent visit of PetroVietnam’s delegation to Malaysia to attend a ceremony celebrating the two Governments’ ratification of a ten-year extension of the Production Sharing Contract (PSC) for the PM3 Commercial Arrangement Area (CAA).
The PM3 CAA project, involving offshore fields in the overlapping zone between Vietnam and Malaysia, brings practical trade benefits to both nations while making significant contributions to Vietnam’s oil and gas industry.
Petronas is one of the important strategic partners of PetroVietnam. The two firms have cooperated in all sectors of the oil and gas industry from oil exploration to product distribution for over 25 years.-VNA
The Malaysia-Vietnam Business Forum 2015 took place in Kuala Lumpur on September 28 with the objective to provide information about Vietnam’s business and investment environment.
Vietnam and Malaysia signed a cooperation agreement on Nov 6, enabling both sides to increase information sharing and training coordination and ensure aviation safety and and security.
Deputy Prime Minister and Foreign Minister Pham Binh Minh and Malaysian Foreign Minister Anifah Aman have agreed on initiatives to further bilateral strategic partnership.
Capital from regional neighbours into Vietnam is increasing, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment (MPI) said.
Prime Minister Nguyen Xuan Phuc has applauded the Vietnam National Oil and Gas Group (PetroVietnam) for its noted contributions to ensuring national energy security.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
An oil rig of PetroVietnam (Photo: VNA)
