Hanoi (VNA) – Sixty local firmsand 10 Omani enterprises operating in various fields sought investmentpartnership at a seminar held in Hanoi on March 22 by the Ministry of Industry and Trade (MoIT), the VietnamChamber of Commerce and Industry (VCCI) and theVietnam-Oman Investment (VOI) joint-venture.

Addressing the seminar, MoIT Deputy MinisterCao Quoc Hung called on the Oman side to organise more visits of enterprises toVietnam to explore trade and investment opportunities in the country.

He urged Vietnamese firms to pay more attention to studying the Oman marketthrough field trips to and exhibitions in the Middle Eastern nation.

Hung said many Oman businesses are interested in the Vietnamese market, whilelocal firms have also made inroads into the Oman market.

He highlighted the fruitful cooperation between the two countries in recenttimes, saying two-way trade has witnessed impressive growth, hitting 120 millionUSD in 2017, an increase of 122 percent year-on-year.

At the seminar, the Oman side said thecountry is considering importing food from Vietnam, expressing the hope thatthe Vietnamese side will open bonded warehousesin Oman, thus facilitating the distribution of Vietnamese goods in Oman andexports to adjacent markets.

Le Thai Hoa, Deputy Head of the Asia-Africa Market Department under the MoITsaid the ministry is creating favourable conditions for the two sides’enterprises to learn about each other’s market.

The ministry is working with ministries and sector on a plan to open a direct flightbetween the two nations, towards promoting economic and culture exchange, henoted. 

The VOI is considered an outstanding model for economic cooperation betweenVietnam and Oman. As a joint venture company between the Oman State GeneralReserve Fund and Vietnam’s State Capital Investment Corporation, VOI wasestablished and operated on the basis of agreement and support from both sides.Since its initial commitment of 100 million USD in 2009, VOI doubled itscapital in 2014.

Abdullah Al Harthy, Chairman of the Board of Directors of VOI, also a member ofthe Vietnam-Oman Joint Committee, affirmed his country has global thinking oneconomic cooperation, even though it is only a small country in the MiddleEast.

Oman sees long-termprospects for economic cooperation in Vietnam, he said.

VOI has focused onVietnam's competitive sectors and those have contributions to long-termsustainable development, such as electricity and logistics, he added.

On the occasion, the VCCIand its Oman counterpart –  the OmanChamber of Commerce and Industry (OCCI) signed a memorandum of understanding oncooperation, aiming to make it easier for the two sides’ enterprises to connectin the future.-VNA