The Vietnamese automaker wants to engage Lao consumers through a local group.
Lao Phongsubthavy Group Company would be the exclusive distributor of the Vietnamese automaker VinFast cars in Laos, according to a memorandum of understanding between the two sides.
An overview of the signing ceremony between VinFast and Phongsubthavy Group Company. Photo: VinFast |
The signing ceremony of a memorandum of understanding between the Vietnamese automaker and Phongsubthavy Group Company on June 28 in Hanoi was witnessed by General Secretary of Vietnam Nguyen Phu Trong, and General Secretary and President of Laos Thongloun Sisoulith.
According to the agreement, the two companies will discuss and consider the possibility of a distribution partnership. VinFast said that if the Lao company meets its requirements about finance, human resources, sales, and investment, it will be a priority partner of the Vietnamese automaker’s business expansion in the Lao market.
Hoang Chi Trung, new General Director of VinFast, said that the company always prioritizes international development and cooperation. He believed that Phongsubthavy Group will help it engage users in Laos.
Phongsavath Senaphuan, Chairman of Phongsubthavy Group said: “This cooperation will contribute to bringing VinFast cars to the Lao market more quickly.”
The representative of the Lao company said they want to deploy the VinFast car dealership system to diversify options for the Lao people.
Phongsubthavy Group, one of the leading corporations in Laos, operates in the fields of construction, real estate, trade, and energy. In recent years, this group has cooperated with the Vietnam Electricity Group (EVN) to export electricity from Laos to Vietnam.
Other News
- Trade ministry proposes purchasing renewable electricity mechanisms without EVN’s involvement
- Australia and Vietnam develop competitive electricity markets
- Vietnam, Thailand advance realization of “Three Connections” strategy
- Vietnamese Gov’t to expand list of electricity buyers under direct power agreement scheme
- Viettel opens largest data center in Vietnam to support AI development
- Vietnam’s economy expected to grow at solid pace in 2024-2025: ADB
- Apartment prices in Hanoi are closing in on those in Ho Chi Minh City
- Coffee exports reach record $5 billion
- Nearly 36,000 Vietnamese workers go abroad in Q1 2024
- New Vietnam-Laos trade agreement signed
Trending
-
Culture is national asset: Vietnam PM
-
Hanoi Times podcast - Apr. 20
-
Cultural similarities provide basis for Vietnam-Italy cooperation in various fields
-
[Video]Hanoi beauty spots featured in saxophone legend Kenny G's music video
-
Colorful stage shows in Hoan Kiem Lake pedestrian area
-
It happened as it had to happen
-
Hanoi street where dead appliances come back to life
-
Vietnam’s economy urged to rely on internal strengths to weather global uncertainties: ADB
-
Vietnam, Thailand advance realization of “Three Connections” strategy