President attends Vietnam - Brunei business forum

On Sunday (August 28^th), the trip continued with the President attending the Vietnam-Brunei Business Forum, held by the Vietnam Chamber of Commerce and Industry, in cooperation with Brunei’s authorities.

The forum attracted over 250 companies, making it the largest event held recently for businesses from both countries. Most want to look for partners to co-operate in IT, food processing, and logistics. The Minister of Industry and Trade Tran Tuan Anh and the Minister of Planning and Investment announced that Vietnam is reforming its policies to make tax procedures, customs and business registration more convenient and protect foreign investors’ capital and assets in Vietnam.

Brunei’s Ministry of Energy and Industry promised to assist Vietnam in oil and gas investments. President Tran Dai Quang said Vietnam and Brunei can further promote economic ties and investments in the future.

"Regarding investment, we encourage Bruneian businesses to invest in Vietnam, in fields where they have an advantage and Vietnam has demand, like energy, oil and gas, real estate, tourism, and infrastructure. Potential for co-operation between the two countries is great. We want to export produce to Brunei, as well as fisheries, electronics, household items, and many more. Vietnam also looks to import oil products from Brunei", President Tran Dai Quang said.

The President also added that since Vietnam and Brunei are ASEAN members that have signed important FTAs together, Vietnam promises to create the most favourable conditions for Bruneian investors. "We highly appreciate Bruneian investors in Vietnam. Vietnam’s authorities at all levels will create the most favourable conditions and ensure that Bruneian investors, as well as foreign investors in general, can operate successfully in Vietnam. We consider your success the same as our success", he said.

The President also witnessed the signing of a Memorandum of Understanding on strengthening economic ties between Vietnam’s Ministry of Industry and Trade and Brunei’s Ministry of Foreign Affairs and Trade.