Algeria and Vietnam have reaffirmed their commitment to strengthening bilateral cooperation and exploring new avenues for partnership. The Minister of State, Minister of Hydrocarbons and Mines, Mohamed Arkab, met with the Prime Minister of the Socialist Republic of Vietnam, Pham Minh Chinh, during the latter’s official visit to Algeria.
During the meeting, held in the presence of the CEO of Sonatrach, Nordine Daoudi, and the head of the National Agency for the Valorization of Hydrocarbon Resources, Samir Bakhti, both sides emphasized the deep-rooted historical ties and solidarity between the two nations. They underscored the political will of both countries’ leadership to elevate bilateral cooperation to the level of a strategic partnership.
Discussions centered on cooperation in the hydrocarbons and mining sectors, with particular emphasis on the successful partnership between Sonatrach and PetroVietnam. Mr. Arkab presented a comprehensive overview of Algeria’s hydrocarbon and mining sector development program, highlighting recent legislative and regulatory reforms designed to incentivize investment. These reforms offer significant opportunities in exploration and production, as well as in the petrochemical and processing industries. The vast potential of Algeria’s mining sector was also emphasized.
Both parties welcomed the adoption of a declaration establishing a strategic partnership and the signing of a Memorandum of Understanding between Sonatrach and PetroVietnam. This agreement sets a new framework for cooperation in various areas, including exploration and production both within and outside of Algeria and Vietnam. It also encompasses the development of refining and petrochemical projects, studies on supplying the Vietnamese market with LNG and LPG, cooperation in renewable energy and green hydrogen, as well as training, technology transfer, and the development of energy infrastructure, innovation, and low-carbon solutions.
Furthermore, the meeting reviewed the outcomes of the 13th Algerian-Vietnamese Joint Committee session held in Algiers. A broad consensus was reached on strengthening cooperation in exploration and production, developing refineries and processing projects, exchanging oil and gas products, and expanding cooperation in industrial digitization, research and development. Support for training programs between specialized institutions in both countries was also discussed. This renewed commitment signals a significant step towards a more robust and diversified partnership between Algeria and Vietnam.The focus on strategic sectors like energy and mining underscores the potential for long-term mutual benefit.
