Oleh/By		:	DATO' SERI DR. MAHATHIR BIN MOHAMAD 
Tempat/Venue 	: 	VIETNAM 
Tarikh/Date 	: 	22/04/92 
Tajuk/Title  	: 	THE OFFICIAL OPENING OF PETRONAS 
			CARIGALI OVERSEAS SDN BHD 
			VIETNAM OFFICE 




 Your Excellencies;
Distinguished Guests;
Ladies and Gentnlemen,
    I would like to thank PETRONAS for inviting me to offi-
cially open this PETRONAS Carigali Overseas office in Ho Chi
Minh City.  It gives me great pleasure to officiate the set-
ting  up  of this office which will house the first overseas
venture in oil and gas by our national oil  company.    This
entrepreneurial  effort  would  benefit  Malaysia in several
ways -- it opens up possible new source of supply of oil for
the country, it offers potential source of income  and  for-
eign exchange and contributes to strengthening the links be-
tween Malaysia and the host country.
2.   For  some  time  now, business has been going through a
process of globalisation.  Malaysia cannot but get  involved
in  this  process.   For Malaysia to benefit fully from this
development, the Malaysian business  community  must  change
their  insular  outlook  and be more outward looking.  While
they need to continue to expand at home, they cannot hope to
prosper fully if they can only thrive in  a  protected  home
environment.    They must venture abroad and have to survive
and succeed in an environment of keen competition with local
and international companies.   Only when they  can  do  this
successfully can they be considered as having matured.
3.   I  am  pleased  that  several Malaysian based companies
have embarked on activities in this direction.  PETRONAS  is
one  of them and I like to commend the company on its initi-
ative and entrepreneurship.  This move has the full  support
of  the Government.  Indeed a special committee has now been
set up to promote and increase the pace and the orderly  de-
velopment of our overseas investment.
4.   It  has  always been Malaysia's policy to work together
with her neighbours towards enhancing stability in  the  re-
gion.    The  development of trade and economic ties provide
viable and strong foundations  for  the  desired  stability.
PETRONAS'  participation  in  the  oil  and  gas industry in
Vietnam will no doubt contribute to the economic development
of Vietnam, while at the same time helping in  strengthening
the link between the two countries.
5.   The   ties   that   have   been   established   between
PetroVietnam and PETRONAS have resulted in  increasing  con-
tacts  between the staff of the two organisations.  With the
widening contacts, both parties have become  more  aware  of
the opportunities for expanding cooperation between them.  I
wish  them  every success in their effort to develop further
the areas of cooperation.  I have no  doubt  both  countries
will  stand  to gain from this mutually beneficial undertak-
ing.
6.   On this note, I now have great  pleasure  in  declaring
open  this  PETRONAS Carigali Overseas Office in Ho Chi Minh
City.