By Daniel Hunter
Up to twenty energy firms from London and the South East are being offered the opportunity to sign up for the first ever specialist Oil & Gas focused mission to Vietnam.
Due to the growing demand for British expertise in Vietnam, UK Trade & Investment (UKTI) have organised a market visit to explore business opportunities for supplying and servicing the Oil and Gas sector in Hanoi and Ho Chi Minh City, from 28 October to 1 November 2013.
With a population of almost 90 million, it is the 13th most populous country in the world and an exciting market of increasing affluence. The demand for expertise to serve the population is increasing, particularly in the fields of offshore exploration and production, geology and geophysics, engineering, supply chain and logistics, helicopter support services and Health and Safety (HSSE).
“There is a high appetite for the wealth and high quality of British energy sector expertise in Vietnam and this market visit provides the ideal opportunity for British firms to identify potential customers or partners," UKTI’s upstream oil & gas specialist, International Trade Adviser Carl Woolf, who is leading the mission for UKTI, said.
“A recent report by PricewaterhouseCoopers into the potential growth of the G20 and selected emerging markets showed Vietnam had the highest projected annual growth of 8.8 per cent by 2050.
“The global economic centre of gravity has shifted towards high growth markets, and the projected figures for Vietnam show it’s currently growing at a faster rate than the superpowers of China and India. Vietnam cannot be ignored so this visit offers a great opportunity for companies to glean information on the market.”
The market visit will begin in the capital, Hanoi, before moving south to Ho Chi Minh City followed by two days in Vung Tau City, the town which services Vietnam’s offshore industry. The mission delegates will receive in-market briefings in Hanoi, a networking reception in Ho Chi Minh City, followed by meetings with relevant companies and with the National Oil Company Petro-Vietnam. Ongoing support will be provided before, during and after the visit from UKTI and the British Embassy.
Companies have until 30th September 2013 to register their interest. There is £775 of Market Visit Support on offer for eligible small and medium sized companies. These will be allocated on a first come, first served basis. Costs for flights, accommodation in the designated group hotel and in-market activities are to be covered by participating companies.
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