Investment
Vietnam and Laos invest in oil pipeline
Stakeholders in a joint venture to construct a bonded warehouse and oil pipeline running from Quang Binh central province’s Hon La island to Laos’ Khammouane province signed a cooperation agreement.
The four stakeholders in the venture include Laos Petro Joint Stock Company, Slovakian Energy Commodities, the Association of Vietnamese Investors in Laos (AVIL), and Truong Thinh group.
Speaking at the signing ceremony, Lao Finance Minister Liane Thykeo highlighted the significance of the project, saying it will help Laos ensure energy security and save oil and gas transport costs.
He pledged to create the best possible conditions to effectively implement the project and said he anticipates it will make a remarkable contribution to poverty reduction and economic growth in the nation.
