Vietnam – Laos cooperation in lubricant production and supply

QNN |

(QNO) - A signing ceremony of cooperation between Dai Duong Kinh Investment Joint Stock Company, FTSC Oil Lubricants and Chemicals Joint Stock Company, Lao and Vietnamese enterprises was held in Tay An Industrial Cluster in Duy Xuyen district, Quang Nam province last week. Lao Consul General in Da Nang city Viengxay Phommachanh attented the event.

The cooperative signing ceremony between Dai Duong Kinh Company and Laos’ Pakxe Construction and Materials Company.
The cooperative signing ceremony between Dai Duong Kinh Company and Laos’ Pakxe Construction and Materials Company.
 

The lubricant and chemical factory of FTSC Oil locates in Tay An Industrial Cluster. Its capacity is 100 tons/hour. The factory is specializing in manufacturing lubricant products using American nanotechnology with an automatic production line system.

At the ceremony, there were cooperative agreements between FTSC Oil and four domestic enterprises and Lao enterprise of Mahaxok Petroleum Company. Besides, Kinh Dai Duong Company and Laos’ Pakxe Construction and Materials Company had a contract of supplying gasoline, lubricants, construction glass, construction materials to Lao market.

The cooperative signing ceremony between FTSC Oil and Mahaxok Petroleum Company
The cooperative signing ceremony between FTSC Oil and Mahaxok Petroleum Company
 

According to Lao Consul General Viengxay Phommachanh, Vietnam-Laos investment cooperation has developed well. There are 413 projects of Vietnamese enterprises in Laos with a total investment of more than 4.1 billion USD, contributing to the socio-economic development of Laos. Mechanisms and legal corridors have been built to facilitate both Vietnamese and Lao businesses, such as Laos-Vietnam Trade Agreement, Vietnam-Laos Border Trade Agreement.

FTSC Oil signed cooperative agreements with Vietnamese enterprises.
FTSC Oil signed cooperative agreements with Vietnamese enterprises.
 

Mr. Viengxay Phommachanh said he would become a brigde to help Lao and Vietnamese enterprises develop their investment cooperation, especially between Quang Nam province, cities and provinces in the Vietname Central - Highlands and the provinces in the South and Central of Laos.