DJ Vietnam, Oman Govts Set Up $100M Investment Fund - Report

HANOI, Apr 18, 2008 (Dow Jones Commodities News Select via Comtex) -- -- The governments of Vietnam and Oman have agreed to set up an investment fund valued at $100 million to invest in properties, infrastructure and power projects in Vietnam, state media reported Friday.

The signing for the fund, which took place late Thursday, was witnessed by Vietnamese Deputy Prime Minister Nguyen Sinh Hung and Amad Bin Abdel Nabi Makki, Omani Vice Chairman of the Financial Affairs and Energy Resources Council, said the Saigon Giai Phong newspaper.

Oman will contribute 75% of the fund, with the money coming from the Oman State General Reserve Fund, Oman Investment Fund and Oman Oil Co., while Vietnam will contribute to the balance, the newspaper said.

Oman plans to invest in a tourism project on Cat Ba island and import 50,000 tons of rice from Vietnam, the newspaper added.

Newspaper's Web site http://www.sggp.org.vn

-By Nguyen Pham Muoi, Dow Jones Newswires; 844-8250732; phammuoi.nguyen@dowjones.com

(END) Dow Jones Newswires

04-18-08 0014ET

Morning Coffee with TradingMarkets -- Free Newsletter

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index