It was announced on Friday that Vietnam and Oman have signed a treaty on the avoidance of double taxation (DTA), in addition to agreeing to increase cooperation in several other areas.
The DTA was signed in Hanoi by Vietnamese Finance Minister Vu Van Ninh and Omani Economy Minister Ahmed Macki, during the latter's visit to Vietnam last week.
Although Vietnam has signed similar treaties with 49 countries and territories, according to the official Vietnam News Agency, this is the first such agreement signed with a state from the Gulf region.
Speaking during his stay, the Omani Economy Minister revealed that Vietnam is being viewed with increasing interest as a location for investment and increased trade by the Middle East.
As well as the DTA, representatives of the two governments agreed to establish a Joint Committee, which will be co-chaired by their respective Ministers of Trade.
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