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Viet Nam News: VN sees investment potential with Shell

(09-02-2006)
President Tran Duc Luong talks with Leslie Van de Walle, the president of Shell Global Retail Business.— VNA/VNS Photo Nguyen Khang
HA NOI — President Tran Duc Luong said Vietnamese leaders aimed to foster strategic relationships with international economic groups like Shell to boost industrialisation and modernisation.
He made the statement yesterday while meeting with Leslie Van de Walle, the president of Shell Global Retail Business. Luong welcomed Shell, one of the large international groups to arrive in Viet Nam during the 1980s, and said Viet Nam would create every favourable condition for foreign economic groups to invest in the country on the basis of mutual benefit.
Luong said with 82 million residents, Viet Nam was one of the largest markets in Southeast Asia. The country was being rapidly industrialised, he added, so its demands for technology, products and high-level services from groups like Shell were great.
Shell’s products, such as tar, lubrication oil, anti-absorptive construction materials, and gas were important for Viet Nam, and the group should have a long-term business strategy in the country, he said.
Luong said in the next five years, Viet Nam planned to meet the demands for petro-chemistry. The Government aimed to build a large international transit port in Van Phong Bay in the central province of Khanh Hoa, and to open more commercial and service markets, he added.
Van de Walle commended Viet Nam’s development potential, especially its impressive economic growth rate over the last decade. He said Shell believed in the opportunities for success in Viet Nam, not only in finance but also in raising capacity and environmental protection. He said Shell pledged to invest long-term in Viet Nam as it did in Thailand and Malaysia.
Currently, Shell has invested US$231 million in Viet Nam to produce, lubricants, anti-absorptive construction materials, and gas. — VNS

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