BAKU, Azerbaijan, May 8. Secretary General of the Central Committee of the Communist Party of the Socialist Republic of Vietnam To Lam held a meeting with local businessmen during his visit to Azerbaijan today, Trend reports.
According to the information, the meeting was attended by businessmen and heads of companies, as well as representatives of the Ministry of Industry and Trade of Vietnam.
Secretary General Lam spoke in detail about the investment climate, the tax system, and minerals in the country. It was noted that the last time the head of state of Vietnam visited Azerbaijan was in 1969.
“Many specialists working in Vietnam's oil and gas industry received higher education in Baku. Despite the long history of relations with Azerbaijan, today there is a need to further expand mutual economic ties. Azerbaijan has great economic potential, so Vietnam considers cooperation with Azerbaijan as its strategic political line. We cooperate in the oil and gas sector. A memorandum of understanding has been signed between the Azerbaijani company SOCAR and the Vietnamese National Industrial and Energy Group (PetroVietnam). This document will give a great impetus to the development of mutually beneficial cooperation relations between our countries in the energy sector,” Lam emphasized.
General Secretary of the Central Committee of the Communist Party of the Socialist Republic of Vietnam Central Committee To Lam, noted that they intend to cooperate with Azerbaijan in the field of alternative energy production as well: “Vietnam's geographical location - solar, wind allows producing energy. Therefore, Azerbaijani companies can invest in Vietnam to produce clean energy. At present, the relevant state structures of Vietnam are considering investing in Azerbaijan. Mutual investment will strengthen economic and political cooperation between our countries”.
General Secretary To Lam highly appreciated the activity of the State Oil Fund of Azerbaijan and noted that they will use this experience. It was noted that in addition to state-owned companies engaged in mining, private companies operate in Vietnam, and companies seeking investment in this field are ready to cooperate.
The official also noted that his country is currently undergoing major reforms that will make the investment climate even more efficient.
Afterward, questions from businessmen and company leaders were answered.