Citibank to fund Lam Dong bauxite project

Published: 12/04/2010 05:00

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The Vietnamese PM attended the Nuclear Security Summit with leaders from 47 countries in Washington, DC on April 12-13, at the invitation of US President Barack Obama.

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Washington State Governor Chris Gregoire received PM Nguyen Tan Dung.

PM Dung’s attendance at the conference highlighted Vietnam’s support of nuclear power for peaceful purposes, nuclear disarmament and non-proliferation.

On the sidelines, two co-operation agreements were signed between Vietnamese and US groups. Specifically, the Vietnam National Coal and Mineral Industries Group and Citibank signed a contract to fund the Lam Dong bauxite project in the Central Highlands, while the Vietnam Oil and Gas Group (PetroVietnam) signed a long-term cooperation contract with GE Oil&Gas.

The PM also met with representatives of the US National Textile Association and garment importers. He thanked the association for its cooperation with the Vietnam Textile and Garment Association, which had helped increase Vietnamese garment exports to the US. He hoped the American association would support Viet Nam against commercial barriers.

PM Dung welcomed US investment and promised favourable conditions, especially in infrastructure and administrative procedures, for American enterprises to work in Vietnam.

US representatives confirmed their plans to invest in Vietnam and asked for more flexible conditions in import/export. A representative of the Target Group, one of the leading retailers, commented that the group wanted to import even more products from Vietnam.

PM Dung also visited Seattle and a Boeing aircraft plant.

Before the Nuclear Security Summit, President Obama on April 11 warned that nuclear terrorism and proliferation of nuclear weapon are the two biggest threats to global security. He hoped the leaders of the 47 countries would join to restrict the “drift” of nuclear materials in the world.

According to Reuters, there have been 18 cases of stolen nuclear materials in the world since 1990.

The summit on nuclear security aims to put forth strict regulations to ensure the safety of nuclear materials and prevent nuclear materials trade in an effort to prevent terrorists from gaining nuclear weapons.

There are reportedly around 1600 tons of uranium and 500 tons of plutonium in 50-60 countries, enough to make 120,000 nuclear bombs.

Observers noted that this event demonstrates President Obama’s global strategy dedicated to a world without nuclear weapons.

Source: Tuoi Tre, TTXVN, Government’s Website

Provide by Vietnam Travel

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