Business

PetroVietnam establishes company in Laos

The PetroVietnam Oil Corporation (PV Oil) made debut the Lao PetroVietnam Oil (Lao PV Oil) company in the capital city of Laos, Vientiane, on April 3
The PetroVietnam Oil Corporation (PV Oil) made debut the LaoPetroVietnam Oil (Lao PV Oil) company in the capital city of Laos,Vientiane, on April 3

With the charter capital of 3 million USD totally invested by the PVOil, a subsidiary of the Vietnam National Oil and Gas Group (PetroVietnam), theLao PV Oil will cover mainly import and trading of petroleum products,and export of timber, coffee, tea and other farm products.

Presentat the event, PetroVietnam General Director Dinh La Thang said the establishmentof the Lao PV Oil marked a new development in the PVN’s overseasinvestment plan.

The executive said he believed the Lao PV Oilwould contribute to Laos’s socio-economic development and boost itstrade activities with Vietnam.

Lao Minister ofIndustry and Commerce Nam Vinhaketh pledged to create favourableconditions for the company to operate effectively./.
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