Vietnam, Greece Sign Investment Pact

HANOI -- Vietnam and Greece Monday signed a pact to boost investment ties between the two countries, a step that could promote greater cooperation in fields such as energy and tourism.

The pact coincides with a six-day visit to Vietnam, which started Saturday, by Greek President Karolos Papoulias.

"The pact will pave the way for Greek investors to start investing in Vietnam and also for Vietnamese investors to invest in the foreign country," said Phan Huu Thang, head of the Ministry of Planning and Investment's Foreign Investment Agency.

Thang said no Greek company has invested in Vietnam so far.

Another Vietnamese official at the agency said Vietnam welcomes Greek investment in all fields, especially seaport development, textile production, tourism, and energy.

The two countries also signed a memorandum of understanding on energy cooperation.

-By Vu Trong Khanh, Dow Jones Newswires; 844 35123042; trong-khanh.vu@dowjones.com