Vietnamese PM To Make Official Brunei Visit
By Azlan Othman

Bandar Seri Begawan - The Vietnamese Prime Minister Nguyen Tan Dung will make an official visit to Brunei from Aug 15 to 17, the Vietnam Embassy in Brunei told The Weekend. Prior to this, the premier will also visit Indonesia, the Philippines, Singapore and Myanmar.

"Xinhua news agency also reported the upcoming trips, which aim at strengthening friendly relations with the countries involved, as well as seeking orientations for the promotion of cooperation, especially in economy, trade and investment," said the spokesman of Vietnamese Foreign Ministry Le Dunga at a press briefing. Such visits are in line with Asean practices, he added.

Meanwhile, the Vietnam Embassy stated during this three-day visit, the premier, who will lead 13 high-level official delegates, will have an audience with His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam.

The delegations would include Vietnam's Foreign Minister, Deputy Prime Minister, Minister at the Prime Minister's Office, Minister of Industry, Minister and Chairman of Sports and Physical Culture, Deputy Minister of National Defence, as well as the Deputy Minister of Planning and Investment. Memorandums of Understanding (MoU) meanwhile will be signed between Petroleum Brunei and Petroleum Vietnam, as well as Brunei's Ministry of Culture, Youth and Sports and Vietnam's Ministry and Chairman of Committee of Sports and Physical Culture.

An agreement signing ceremony on the avoidance of double taxations is also planned. The premier will also tour the Oil and Gas Industry and Brunei Museum in addition to meeting Bruneian and Vietnamese businessmen.

Last February, the former Vietnamese envoy to Brunei, Mr Ho Hong Hai, said that as of Oct 2006, Brunei has 26 Foreign Direct Investment (FDI) projects in Vietnam with a registered capital of US$76.36 million. In 2006 alone, it had 11 projects, with US$ 39.92 million in registered capital. The FDIs were in areas like manufacturing (ceramics, tiling and glass), as well as the financial sector like insurance. Trade between the two countries is still very modest and has yet to commensurate with bilateral political ties. It stands at around US$3 million in Vietnam's favour.

However, it was increased to some extent last year due to the direct air links between Bandar Seri Begawan and Ho Chi Minh City. Vietnam's exports to Brunei include textile, fruits, vegetables, groundnuts, handicrafts, ceramics, chemicals (batteries), tires and equipment, while its imports from Brunei include petroleum equipment, floor carpets and many more. -- Courtesy of Borneo Bulletin

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