(MPI) - Deputy Minister of Planning and Investment Tran Duy Dong hosted a reception in Hanoi on January 11 for Nicola Buck, Senior Vice President, Global Marketing for bp’s Customers & Products portfolio and the Chief Marketing Officer for Castrol.

At the reception. Photo: MPI

Deputy Minister Dong expressed his appreciation for the achievements and activities of the joint venture between Castrol, BP and Petrolimex Vietnam over the past 30 years, which has generated stable and long-term jobs for the local workers in the country.

According to the deputy minister, the global economy continues to face steep challenges, many nations, including Vietnam’s major trade partners, have suffered from growth slowdown. But with the coordination of the entire political system and the proactive, flexible and drastic direction of the Government, Vietnam remains a bright spot in the global panorama.

Vietnam’s gross domestic product (GDP) in 2023 is estimated to have increased 5.05% compared to 2022, the country attracted nearly 36.6 billion USD of foreign direct investment (FDI) this year, and the macroeconomy is stable, inflation is controlled, and major balances are guaranteed.

Deputy Minister Dong affirmed that Vietnam’s consistent viewpoint is to accelerate reforms to improve the investment and business environment, including actively perfecting institutions and legal policies and amending important laws such as Law on Investment and Law on Bidding in order to create the most optimal conditions for investors to effectively do business.

The Government of Vietnam is committed to standing by sides and create favourable conditions for foreign investors, including Castrol, to do business in compliance with the legal regulations, he noted.

Nicola Buck said that BP is presented in Vietnam for more than 30 years, and is committed to supporting Vietnam implement energy transition and carbon-neutrality goals.

The company is willing to expand investment and business activities in Vietnam and make contribution to the goal of green and sustainable energy transition as well as developing green industry. She hoped that the joint venture of Castro, BP and Petrolimex (named Castrol BP Petco), which focuses on the production and distribution of lubricants, will continue to receive the ministry’s coordination to continue operating stably and sustainably in Vietnam./.

Bao Linh

Ministry of Planning and Investment