Jun 28, 2021
Laos' Phongsubthavy Group will be an exclusive distributor of Vietnamese car maker VinFast under a Memorandum of Understanding signed on June 28.
Phongsubthavy Group would be an exclusive distributor of Vietnamese car maker VinFast under a memorandum of understanding signed on June 28.
General Secretary of the Communist Party of Vietnam (CPV) Central Committee Nguyen Phu Trong and General Secretary of the Lao People’s Revolutionary Party (LPRP) Central Committee and President of Laos Thongloun Sisoulith, who has been on an official visit to Vietnam, witnessed the signing of the document.
Phongsubthavy wanted to establish a system of VinFast dealerships in Laos to diversify car supplies in the country.
VinFast committed that Phongsubthavy will become its priority partner in Laos if the group satisfies conditions and standards regarding finance, personnel, sales and investment prospects.
Phongsavath Senaphuan, Chairman of Phongsubthavy, said his group has chosen VinFast because of its incredible growth over the past time, adding VinFast has created the first Vietnamese car brand in the international market.
Hoang Chi Trung, General Director of VinFast, expressed his hope that through the cooperation with Phongsubthavy, more people will possess and experience Vietnamese cars.
As one of the leading groups in Laos, Phongsubthavy is operating in construction, real estate, energy and trade. It has also cooperated with Vietnam Electricity (EVN) to export electricity to Vietnam.