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Petronas wants to extend contract in Vietnam

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Syndicated News
Written by Syndicated News

MANILA — April 28, 2017: The Vietnam government is considering Petronas’ interest to continue its production-sharing contract there for another 10 years. Petronas has been in Vietnam for 25 years.

Petronas’ interest in continuing the would benefit both countries, said Prime Minister Datuk Seri Najib Razak to Malaysian reporters after a meeting with Vietnam’s Prime Minister Nguyen Xuan Phuc. Both leaders are here for the 30th Asean Summit.

Malaysia is one of the largest investors in Vietnam.

“This is very important to be decided, in view of some multinational companies have already ended their operations in Vietnam. But Petronas is still interested to continue investing there,” Najib said.

On the Trans-Pacific Partnership (TPP) and Regional Comprehensive Economic Partnership (RCEP), Najib said it was agreed that RCEP negotiations should be continued. Apart from that, 11 other TPP countries are discussing on  an alternative.

The commitment to expand bilateral trade to US$15 billion in 2020 from US$11 billion will also be discussed. — Bernama

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