From 27th March to 2nd April 2022, the delegation of Petrovietnam Exploration Production Corporation (PVEP) led by  President & CEO Tran Hong Nam and leaders of Vietnam National Oil and Gas Group (PetroVietnam) attended Vietnam Investment Forum and activities within the framework of “Vietnam Days” in the United Kingdom jointly organized by the Embassy of Vietnam in the UK, the Ministry of Industry and Trade of Vietnam and the UK Department of International Trade.

(Photo: Vietnam Investment Forum)

The Vietnam Investment Forum was organized to promote foreign investment in general and British investment in Vietnam in particular, in the context of the country reopening its economy after the COVID-19 pandemic. With the theme “New Era of Digital and Green Transformation”, the participants were updated on Vietnam’s economic situation as well as investment and trade opportunities from the implementation of the UK - Vietnam Free Trade Agreement (UKVFTA), signed in December 2020 and officially effective from May 2021, and focused on 4 discussion sessions on the following contents: Trade and investment opportunities from the UK - Vietnam Free Trade Agreement; Digital and financial technology for economic development; Green energy in Vietnam; Financial incentives for sustainable development projects in Vietnam.

(Photo: Leader of PVN/PVEP and the delegation at the meeting with BP, Enterprise Energy and Thang Long Wing)

(Photo: Leader PVEP took photo with Schlumberger)

(Photo: Leader of PVEP at the meeting with SOCO)

Within the framework of the business trip, in addition to the joint programs with oil and gas enterprises, PVEP has separate working programs with partners, including Perenco, Harbour Energy/Premier Oil and SOCO to promote the implementation of existing oil and gas projects, with the goal of increasing oil and gas production at projects in Vietnam (such as Block 15-1, Block 09-2, Block 16-1,...) and exchange new cooperation opportunities.

The UK is Vietnam’s third largest trading partner in Europe, and Vietnam’s ninth largest export market. Two-way trade turnover between the two countries reached 6.6 billion USD in 2021. By the end of 2021, the UK had a total of 447 FDI projects in Vietnam, accounting for 1.3% of the country’s FDI projects, with total valid registered investment capital of nearly 4 billion USD. The UK’s direct investment in Vietnam in 2021 also increased by 157% compared to 2020, making the UK one of the 12 countries with the largest direct investment capital in Vietnam. Vietnam currently has 9 projects with a total registered capital of 11.5 million USD in the UK. 

PVEP