The Vietnam National Oil and Gas Group (PetroVietnam) is expected to conduct a series of economic development projects in Tay Ninh province and to support the local social security programme.

An agreement to this effect was signed in the south western province of Tay Ninh on September 7 by PetroVietnam Deputy General Director Vu Quang Nam and provincial People’s Committee Vice Chairman Vo Hung Viet.

Accordingly, in 2009, PetroVietnam will provide 1 billion VND to help Tay Ninh province deploy its social security programmes.

The group and its affiliate will build a hotel of 3-4 star standard at Tay Ninh town and invest in ecological tourism development on the islands on Dau Tieng lake.

The group is expected to expand its oil and gas depot at Ben Keo port in Hoa Thanh district to 8,000 cu. m in capacity from the current 3,000 cu. m and construct a storage depot for fertilizer in the region.

PetroVietnam has a plan to invest in the building of infrastructure, industrial and urban zones; setting up Liquefied Petroleum Gas (LPG), petroleum and fertilizer storehouses and distribution network; and developing services for finance and insurance in the province.

Speaking at the signing ceremony, Chairman of PetroVietnam’s Management Board Dinh La Thang spoke highly of Tay Ninh province’s geographical position, saying the province is expected to be a major intersection point between Vietnam, Cambodia and Thailand once the trans-Asia road system completed.

Tay Ninh province borders Cambodia with two international border gates: Moc Bai and Xa Mat./.