|Sultan Haji Hassanal Bolkiah of Brunei. VNA/VNS Photo|Viet Nam News
HÀ NỘI — Sultan Haji Hassanal Bolkiah of Brunei begins a three-day visit to Việt Nam from today.
The visit is made at the invitation of Vietnamese Party General Secretary, State President Nguyễn Phú Trọng. Việt Nam and Brunei established diplomatic ties on February 29, 1992. Since then, the two countries have regularly exchanged visits and high-ranking meetings.
As of February 2019, two-way trade had reached US$43 million, with $39 million coming from Việt Nam’s imports. In 2018, bilateral trade exceeded $54 million, of which Việt Nam’s import revenue was $36 million. Việt Nam mainly exports seafood and rice to Brunei, and imports chemicals from the country.
As of late 2018, Brunei ranked 21st among 128 countries and territories investing in Việt Nam, and fourth among Việt Nam’s ASEAN investors after Singapore, Malaysia, and Thailand, with 179 projects worth more than $1 billion.
Meanwhile, Việt Nam is running two projects in Brunei with total registered capital of $3.6 million.
The two countries have set a goal of raising bilateral trade to $500 million in two-way value by 2025. VNS