Addressing the event PVN General Director Do Van Hau said the group needs up to US$ 40 billion to carry out a number of major investment projects until 2015, such as infrastructure construction for the oil and gas sector.
Therefore it is seeking investment cooperation on finance and technology with Japan in the five key production areas, namely oil and gas, exploration, oil refinery and petrochemicals, gas industry, electricity industry, and high-tech oil and gas services.
According to the PVN, it is carrying out nine major investment projects. Japan is able to purchase up to 49% stake in the PVN’s eight projects and 20% of shares in the other project.
The PVN pledged to closely work with Japanese investors as well as on specific proposals to submit to the Government to ensure timely solutions to difficulties and obstacles during operations.
According to Hirokazu Yamaoka, Chief Representative of the Japan External Trade Organisation (JETRO) Hanoi Office, Vietnam, with its goal of becoming an industrial country by 2020, will continue to need assistance from Japan to achieve.
With nearly 2,000 Japanese businesses operating in Vietnam, JETRO pledges to continue promotion of and support to PVN in attracting capital, technology and experience from Japanese firms, as well as creating favourable conditions for the PVN to present its projects in order to seek investment, the JETRO official said.