The Prime Minister invited businesses from Prahova province - Romania's leading industrial and oil and gas center - to participate in investing and transferring technology in Vietnam's oil and gas projects.
Working in Prahova province on January 21, during his visit to Romania, Prime Minister Pham Minh Chinh said that Vietnam is expanding a number of oil refineries, building gas-fired power plants and investing in the oil and gas sector. This is an opportunity for Prahova businesses to cooperate with Vietnam.
"We are ready to cooperate. Romanian businesses in general and Prahova in particular can come to invest, support technology transfer, human resources and equipment in the oil and gas sector," said the Prime Minister.
He believes that this will renew old dynamics and promote cooperation in emerging fields between the two countries.
Prahova is the leading industrial and oil and gas center in Romania. It is also home to Romania's first oil refinery and the Ploiesti Petroleum University. Hundreds of Vietnamese engineers have graduated from the Bucharest Institute of Petroleum and Geology and the Ploiesti Petroleum University.
Prime Minister Pham Minh Chinh during his visit and work in Prahova province on the morning of January 21. Photo: Tran Thuong
Currently, Vietnam has two oil refineries, including Dung Quat Oil Refinery and Nghi Son. In 2022, the Vietnam Oil and Gas Group (PVN) proposed that the Government invest in building a petrochemical complex and a national reserve of crude oil and petroleum products at Long Son Oil and Gas Industrial Park ( Ba Ria - Vung Tau ), with a total investment of about 18.5 billion USD in two phases.
Vietnam also plans to develop more than 30,420 MW of gas-fired power by 2030, according to Power Plan VIII. Of this, plants using LNG gas account for about 74% of capacity, equivalent to more than 22,500 MW.
Sharing with businesses in Prague province today, Prime Minister Pham Minh Chinh said that trust is an advantage when the two countries have a strong cooperative relationship, the biggest obstacle is geographical distance. However, this difficulty can be resolved in the current conditions of a flat world, technology and digital transformation.
"Five to 10 years ago we had to meet in person, now we can work online," he said.
In addition, the cooperation between the Chambers of Commerce of the two countries, ministries and sectors will support businesses and connect the two economies. The Prime Minister hopes that businesses and localities will actively cooperate and invest to contribute to realizing the vision and goals of the leaders of the two countries.
Prime Minister Pham Minh Chinh and his wife are visiting Romania, the country he was attached to during his youth, at the invitation of Prime Minister Marcel Ciolacu.
Vietnam and Romania established diplomatic relations in 1950. In 2022, the trade turnover between the two countries reached 400 million USD, 4 times higher than the previous four years. By the end of 2022, Romania had 5 direct investment projects in Vietnam, with a total registered capital of nearly 1.6 million USD.
Minh Son
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