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

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

Present at the event, PetroVietnam General Director Dinh La Thang said the establishment of the Lao PV Oil marked a new development in the PVN’s overseas investment plan.

The executive said he believed the Lao PV Oil would contribute to Laos’s socio-economic development and boost its trade activities with Vietnam.

Lao Minister of Industry and Commerce Nam Vinhaketh pledged to create favourable conditions for the company to operate effectively./.