Deputy PM applauds JX NOEX’s cooperation proposals

11:18 | 24/08/2019 Energy

Deputy Prime Minister Trinh Dinh Dung highly evaluated proposals of cooperation in exploring and exploiting oil and gas made by President and CEO of the JX Nippon Oil & Gas Exploration Corp (JX NOEX) Hiroshi Hosoi during their meeting in Hanoi on August 21.

Deputy PM Trinh Dinh Dung (R) and President and CEO of the JX Nippon Oil & Gas Exploration Corp Hiroshi Hosoi - Photo: VNA

Dung asked the Japanese firm to soon work with the Vietnam Oil and Gas Group (PetroVietnam) as well as relevant ministries, sectors and agencies to carry out cooperation activities.

The Deputy PM affirmed that Japan is an important economic, trade and investment partner of Vietnam. Japan is the biggest provider of official development assistance (ODA) worth about 30 billion USD for Vietnam, and the second largest foreign investor in Vietnam with 4,020 projects with total registered capital of 57 billion USD, he said.

Last year, two-way trade reached 38 billion USD, Dung said, adding that around 800,000 Japanese tourists visited Vietnam while 200,000 Vietnamese holidaymakers travelled to Japan.

The Deputy PM underlined the efforts of the Japanese Government and businesses in striving to lead countries and territories in terms of investment in Vietnam in 2017 and 2018.

Japanese enterprises are making active contributions to Vietnam’s socio-economic development, he said.

Dung extolled JX NOEX’s business performance in Vietnam, especially in applying technical solutions to enhance oil recovery, helping to stabilise Vietnam’s exploited oil output.

The Deputy PM also hailed the company’s social welfare activities, which have contributed about 2 million USD to the social welfare work in Vietnam.

Hosoi thanked the Vietnamese Government and Vietnamese Embassy in Japan for supporting JX NOEX to operate effectively since 1992, including the implementation of oil and gas projects.

The company hoped to make long-term investment in Vietnam, not only in oil and gas exploration and exploitation but also in other fields, he said.

Theo VNA