Foreign Conglomerates Sign Strategic Investment Agreements with Ho Chi Minh City, Vowing to Bolster Vietnam’s Energy Sector
On the afternoon of May 19, foreign conglomerates from Japan and the Middle East signed investment and strategic cooperation agreements worth 6 billion USD with Ho Chi Minh City. The agreements include a plan to construct an oil pipeline from Vung Ang Port in Vietnam to Vientiane, Laos.
The ceremony witnessed the partnership between the KOGI Group, Madza Oil from Japan, and various Middle Eastern conglomerates, marking the beginning of several projects pending approval from relevant authorities.
Specifically, the strategic investment agreement entails a proposed investment of 500-700 million USD for the construction of an oil pipeline from Vung Ang Port in Vietnam to Vientiane, Laos.
Additionally, a 5-billion-USD agreement was signed for the construction of the largest oil refinery and storage facility in Southeast Asia. Another agreement, with an initial investment of 1 billion USD, focuses on establishing a factory to produce hydrogen-based emission-free internal combustion engine components.
Japanese and Omani investors show interest in investing 6 billion USD in Ho Chi Minh City
These two investment agreements, totaling a committed investment of 6 billion USD, are expected to be implemented in Ho Chi Minh City. They are key projects in the region’s energy development strategy, contributing to energy security.
Mr. Nguyen Hong Hue (Peter Hong), Chairman of the Association of Vietnamese Entrepreneurs Abroad and Chairman of the KOGI Group’s Board of Directors, shared that this cooperation was established after six months of negotiations between the KOGI Group and Middle Eastern partners from Kuwait, Saudi Arabia, Qatar, and Oman, as well as Japan. These negotiations aimed to attract investments and foster cooperation in Vietnam.
“Prime Minister Pham Minh Chinh’s visit to the Middle East in October 2024 paved the way for new collaboration between Vietnam and the region. In the past months, the KOGI Group has worked diligently to achieve today’s signing ceremony,” said Mr. Peter Hong.
Mr. Tetsunobu Ishihama, CEO of Madza Oil (Japan), highlighted that the large-scale oil and energy projects would transport 25-30 million tons of gasoline and diesel. He emphasized that once operational, these projects would boost Vietnam’s economic growth, already the fastest in Asia. The oil production facilities will directly import crude oil from the Middle East and refine it into necessary types of oil, such as gasoline and diesel, in Vietnam… providing a crucial foundation for the country’s economy.
Foreign investors recognize the potential and promise of the Vietnamese market, especially in the oil and gas sector, provided there is regional infrastructure in place…
The Ultimate Guide to the Fast Food Boom in Vietnam: Unveiling the Top Players in the Game
The fast-food market in Vietnam is experiencing a significant surge in 2025, with an impressive 110 new store openings. This thriving industry is witnessing a rapid expansion, indicating a strong appetite for quick, convenient, and delicious dining options among Vietnamese consumers. With each new store, the market accelerates, catering to the diverse tastes and preferences of its customers.
Is the Vacation Property Market About to Wake Up from its Slumber?
The travel industry’s robust recovery is presenting a unique opportunity for the vacation real estate market to bounce back after a prolonged slump. With an improved project supply and rising absorption rates, the sector is poised for a remarkable transformation.
‘Cutting’ the Price Fever: Hanoi’s Apartment Market Stabilizes
The residential property market in Hanoi and Ho Chi Minh City has witnessed a slowdown in price growth, no longer surging at the same rate as in 2024. This insight is according to the Ministry of Construction’s report on housing and the real estate market for the first quarter of 2025.
‘Lightning-Fast’ Construction: How Hanoi’s Mega Project is Set to Become a Global Trading Hub
With a smile of satisfaction, the Prime Minister witnessed the bustling and vigorous construction site of Hanoi’s mega-project, ranked among the top 10 in the world.
The “Billion-Dollar Petal”: Vietnam’s Rare Treasure that Fetching a Whopping $22 Million, Coveted by India
The flower boasts a stunning arrangement of 5 to 8 petals, each petal taking the shape of a delicate spindle, together forming a perfect star or wheel.
