The Vietnam National Petroleum Group (Petrolimex/PLX) and Vingroup Joint Stock Company (Vingroup) signed on Thursday, November 08, 2018, a comprehensive cooperation agreement between the two groups.

Board of Management member, Petrolimex Director General Pham Duc Thang and Vingroup Vice Chairman, Director General Nguyen Viet Quangsign comprehensive cooperation agreement

General view of the signing ceremony

The signing ceremony took place in the presence of,

On Petrolimex’s side:

+ Petrolimex Chairman Pham Van Thanh;

+ Board of Management member and Petrolimex Director General Pham Duc Thang;

and members of the Board of Management and Board of Directors, heads of divisions/departments, and leaders of certain Petrolimex’s member companies.

On Vingroup’s side:

+ Vingroup Vice Chairman and Director General Nguyen Viet Quang;

+ Vingroup Vice Chairman Le Khac Hiep;

and leaders of Vinfast Service Company, heads of divisions/departments, and leaders of certain Vingroup’s member companies.

Under the cooperation agreement, Petrolimex and Vingroup will together promote investment and business activities and support each other both in terms of technical facilities and expansion of business activities, with the aim to take full advantage of strengths of each Side, potentials of domestic and foreign markets, traditional business areas of each Side, and other areas of mutual interest to increase values in compliance with Vietnam’s law.

The two Sides pledged to prioritise the use of products and services of each other, encourage customers and local and foreign business partners to use products and services of each other; facilitate and support each other for the development of production and business activities in order to maximise potentials, enhance efficiency, especially of Petrolimex’s petrol station system across the country and the system of Vingroup’s urban areas, residential areas, offices, hotels and resorts, and trading centres; and reinforce the position and intensify the competitiveness of each Side on the basis of voluntariness, equality, and efficiency, ensuring interests of each Side and in accordance with Vietnamese law in the course of cooperaion.

On the basis of the agreements, Petrolimex and Vingroup will map out plans for specific works, action programmes, and implementation schemes in order to reach objectives set by both sides. The two groups affirmed their strategic, long-term, and comprehensive cooperation provided that they use quality products and services of each other, enhance prestige and brands of both sides.