Oman eyes Vietnam’s food, fishery sector

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Oman MuscatAt a meeting of the Omani-Vietnamese Committee on January 13 in Muscat, the two countries agreed on enhancing their economic cooperation by diversifying trade and exchanging trade delegations and experts to explore possible business opportunities, the Oman News Agency reported.

Dr Ali bin Masoud al Sunaidy, Oman’s Minister of Commerce and Industry, said the committee started focusing on increasing the size and the number of investment opportunities. While the State Reserve Fund of the Sultanate already invested in Vietnam’s healthcare sector, the trend is now to increase investments in the food sector.

In particular, Oman explores investment opportunities in the fishing sector in Vietnam. Al Sunaidy said that both sides discussed the possibility of benefiting from the Vietnamese experience in the field of fish and shrimp farming. He pointed out that a number of experts will visit the Sultanate in the coming months to discuss fish and shrimp farming. He also pointed out that trade with Vietnam is still limited and that both sides will discuss operating a marine shipping route.

He added that there are other potential markets for Omani industries.

“Vietnam is also one of the paper industry materials and wood exporters, therefore I call upon investors in both countries to show more interest in this area”, he said.

He added that the Vietnamese side wants to use a direct shipping route and the Sultanate’s ports for re-distribution of goods sourced from Vietnam to the region.

Both sides expressed their satisfaction over the initial results obtained in the business activities of the Vietnamese-Omani Investment Joint Stock Company (VOI) over the past two years. VOI has invested around $51 million in banking, hydropower, infrastructure and healthcare sectors.

In the field of oil and gas, both sides agreed to encourage and support direct communication channels and to share information on potential investment projects, especially in upstream, downstream, power generation, metals and in-country values.

In the field of finance and banking, the countries agreed to further strengthen exchange of information on banking and financial markets, legislations document, practices and customs

With regards to labour, both sides agreed to push up the full implementation of the MoU on cooperation signed in 2007 and facilitate Vietnamese labour suppliers to send more labourers in the areas of healthcare, construction, mechanics, maintenance services and otehrs.

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Reading Time: 2 minutes

At a meeting of the Omani-Vietnamese Committee on January 13 in Muscat, the two countries agreed on enhancing their economic cooperation by diversifying trade and exchanging trade delegations and experts to explore possible business opportunities, the Oman News Agency reported.

Reading Time: 2 minutes

Oman MuscatAt a meeting of the Omani-Vietnamese Committee on January 13 in Muscat, the two countries agreed on enhancing their economic cooperation by diversifying trade and exchanging trade delegations and experts to explore possible business opportunities, the Oman News Agency reported.

Dr Ali bin Masoud al Sunaidy, Oman’s Minister of Commerce and Industry, said the committee started focusing on increasing the size and the number of investment opportunities. While the State Reserve Fund of the Sultanate already invested in Vietnam’s healthcare sector, the trend is now to increase investments in the food sector.

In particular, Oman explores investment opportunities in the fishing sector in Vietnam. Al Sunaidy said that both sides discussed the possibility of benefiting from the Vietnamese experience in the field of fish and shrimp farming. He pointed out that a number of experts will visit the Sultanate in the coming months to discuss fish and shrimp farming. He also pointed out that trade with Vietnam is still limited and that both sides will discuss operating a marine shipping route.

He added that there are other potential markets for Omani industries.

“Vietnam is also one of the paper industry materials and wood exporters, therefore I call upon investors in both countries to show more interest in this area”, he said.

He added that the Vietnamese side wants to use a direct shipping route and the Sultanate’s ports for re-distribution of goods sourced from Vietnam to the region.

Both sides expressed their satisfaction over the initial results obtained in the business activities of the Vietnamese-Omani Investment Joint Stock Company (VOI) over the past two years. VOI has invested around $51 million in banking, hydropower, infrastructure and healthcare sectors.

In the field of oil and gas, both sides agreed to encourage and support direct communication channels and to share information on potential investment projects, especially in upstream, downstream, power generation, metals and in-country values.

In the field of finance and banking, the countries agreed to further strengthen exchange of information on banking and financial markets, legislations document, practices and customs

With regards to labour, both sides agreed to push up the full implementation of the MoU on cooperation signed in 2007 and facilitate Vietnamese labour suppliers to send more labourers in the areas of healthcare, construction, mechanics, maintenance services and otehrs.

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