Receiving leaders from AzerGold Group, the State Oil Fund of Azerbaijan (SOFAZ), and the State Oil Company of Azerbaijan (SOCAR), Lam, who was on a state visit to Azerbaijan, highlighted Vietnam’s strong interest in expanding cooperation in energy, mining, finance, banking, infrastructure development, and real estate – the sectors that are key priorities for Vietnam.

He recalled the deep-rooted energy ties between the two countries, dating back to 1959 when President Ho Chi Minh visited oil rigs and initiated cooperation with Azerbaijan - the first country to partner with Vietnam in oil and gas.

He stressed that bilateral cooperation now extends beyond exploration and extraction, moving into broader energy and non-oil sectors. He also revealed Vietnam’s interest in investing in Azerbaijani oil fields and importing petroleum and LNG for domestic refining and power needs.

As Vietnam is fostering its high-growth economic development, Lam said, the country seeks financial resources, including foreign investment funds. He noted that not only state owned enterprises but millions of private enterprises are also seeking capital, and he therefore expected SOFAZ would explore project opportunities in Vietnam.

Meanwhile, the General Secretary praised AzerGold’s mining expertise and encouraged the application of advanced technologies in future Vietnamese operations. He emphasised that Vietnam is continually improving its policy and legal frameworks to attract foreign investors and ensure long-term success.

He affirmed that Vietnam’s government and relevant agencies would offer maximum support for Azerbaijani investment projects, and that the success of these businesses will significantly contribute to deepening bilateral relations.

At the meeting, Zakir Ibramimov, chairman of AzerGold, expressed interest in partnering with Vietnamese mining companies, vowing that the firm would use modern, environmentally conscious technologies.

Kanan Najafov, deputy CEO of SOCAR, said the firm is expanding into new markets and hopes to increase crude oil exports and supply liquefied natural gas (LNG) to Vietnam’s PVGas, along with exploring power generation projects.

Shahmar Movsumov, CEO of SOFAZ, shared plans to enhance collaboration with Asian nations, particularly Vietnam, given its dynamic economy and increasing demand for capital.

Party chief To Lam meets Azerbaijan parliament leader Sahiba Gafarova

VOV.VN - Vietnam’s Party General Secretary To Lam held a high-level meeting with Sahiba Gafarova, Speaker of the Milli Majlis (National Assembly) of Azerbaijan, in Baku on May 8 as part of his state visit to the country.