Vietnam facilitates operations of Indian oil and gas firms: Top legislator
Vietnam creates optimal conditions for Indian companies to continue their long-term operations and expand investment in energy and oil and gas exploration and production in the country’s continental shelf and exclusive economic zone, Vietnamese National Assembly Chairman Vuong Dinh Hue affirmed on December 17.
Vietnamese National Assembly Chairman Vuong Dinh Hue (left) hosts a reception in New Delhi for AK Gupta, Managing Director & CEO of ONGC Videsh. (Photo: VNA)
New Delhi (VNA) - Vietnam creates optimalconditions for Indian companies to continue their long-term operations and expandinvestment in energy and oil and gas exploration and production in the country’scontinental shelf and exclusive economic zone, Vietnamese National AssemblyChairman Vuong Dinh Hue affirmed on December 17.
At a reception in New Delhi for AK Gupta, ManagingDirector & CEO of ONGC Videsh, an international petroleum company of Indiaand an overseas arm of Oil and Natural GasCorporation (ONGC), Hue highlighted the traditional friendship andcomprehensive strategic partnership between Vietnam and India in different spheres,from politics, diplomacy and national defence and security, to economy, trade,investment, education-training, culture, tourism and people-to-people exchange.
Collaboration in energy and oil and gas explorationand exploitation is a key sector in the bilateral economic, trade andinvestment ties, he said, lauding the initial presence and successes of thecorporation in Vietnam.
The top legislator expressed his hope that apart fromoil and gas, Indian investments will be pumped into new fields, to bring two-way trade to 15 billion USD in the time ahead.
Vietnam commits to protecting interests of investors inline with legal regulations, he said, informing Gupta that the Vietnamese legislaturewill consider amending and supplementing the Oil and Gas Law to create a morefavourable legal environment for the development of the industry.
For his part, Gupta said his corporation hasmaintained close cooperation with Vietnam Oil and Gas Group (PetroVietnam), andthanked Vietnam for its support to ONGC.
He also raised several petitions and noted his wish to continue long-term investment and business activities in Vietnam./.
Vietnam and India established their diplomatic relations in 1972 and upgraded the ties to comprehensive strategic partnership in September 2016. They are working to implement an action programme materialising the partnership for 2021-2023. They always support each other and regularly exchange delegation across all levels, particularly high-level ones.
Chairman of the National Assembly Vuong Dinh Hue met with leaders of political parties in India on December 16, as part of his official visit to the South Asian nation.
National Assembly Chairman Vuong Dinh Hue held talks with Speaker of the Lok Sabha (House of Representatives) of India Om Birla on December 16 during his official visit to India.
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Vietnamese National Assembly Chairman Vuong Dinh Hue (left) hosts a reception in New Delhi for AK Gupta, Managing Director & CEO of ONGC Videsh. (Photo: VNA) 
