President prompts Shell to expand Viet Nam operations

HA NOI — President Nguyen Minh Triet said Viet Nam's achievements in recent years were accomplished due to the co-operation and support the country has received from foreign partners.

Triet made the statement yesterday at a reception in the capital that was attended by Shell's Chief Financial Officer Simon Henry.

The President said that during the freshly concluded 11th National Party Congress, the Communist Party of Viet Nam reiterated its renewal policy and intention to further strengthen and consolidate its co-operation with other countries and international partners.

He expressed his wish that Shell would provide further support to Viet Nam's socio-economic development.

"Shell is one of the world's leading corporations to resume its business in Viet Nam during the early years of the country's renewal process," said Triet.

He asked Shell to expand its operations in Viet Nam in the energy and infrastructure sectors.

Henry lauded the recent Party Congress and the achievements Viet Nam had made in socio-economic development.

"Global integration has helped Viet Nam become an attractive destination for foreign investors, " said Henry. "International integration has opened up promising development for Viet Nam in the years to come. As a result the demand for energy will increase, particularly electricity."

He informed President Triet of Shell's business strategy, in which his corporation would focus on oil and gas exploration and importing and distributing liquefied natural gas (LNG).

Henry expressed his interest in becoming a share holder in the process of equitising the distribution of petrol and diesel in Viet Nam, as well as in co-operating with the Viet Nam National Petroleum Corporation in their efforts to discover new oil and gas fields. — VNS