As weekend travelers flock to the area’s idyllic beaches, approximately 120 kilometres northwest of Ho Chi Minh (Saigon), a glance at signposts reveals oil service and maritime company names such as Seadrill, Seawell, Slåttland, Odim/Rolls Royce, Brødrene Dahl, and Yara.
Norwegian-Vietnamese Per Q. Fjellstad came to Vung Tau six years ago when STX (formerly Aker) planned to establish its shipyard in Vung Tau.
He stayed on afterwards, first helping to set up seismic and subsea equipment suppliers Odim, then to advise other Norwegian companies wishing to do the same.
He observes, “Norwegian oil service companies used to be very interested in establishing themselves in Vung Tau and Vietnam, but it now seems as though many are slightly more hesitant in light of developments in the global economy.”
Nevertheless, local authorities’ commitment to heavy industry means Korean owners Posco are building steelworks amongst the fishing villages, hotels, restaurants, and promenades.
Las Vegas casino giant MGM is also planning to draw foreigners by investing billions in a gigantic new gambling house.
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Roger Vassdal and Bernhard Hansen.
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