On January 28, 2021, the signing ceremony of the cooperation and credit financing agreement between The Joint Stock Commercial Bank for Foreign Trade of Vietnam in Laos (Vietcombank Laos) and Laos State Petroleum Corporation (LSFC) took place in Vientiane, the capital of Lao PDR.

Attending the signing ceremony, on the side of Laos State Petroleum Corporation, there were Mr. Anousin Pholsena - Acting General Director; Mr. Chanthaking Inthavong - Deputy General Director; Mr. Bounyok Bounsavang - Deputy General Director and some leaders of departments under the corporation.

On the side of Vietcombank Laos, there were Mr. Nguyen Thanh Do - Member of the Board of Directors, General Director; Mr. Willey Khotnhotha - Deputy General Director and leaders of some key departments of Vietcombank Laos.

Laos State Petroleum Corporation (LSFC) is a 100% state-owned enterprise established in 1976, a unit under the Ministry of Materials with the name of Fuel Supply Company.

In 1986, LSFC was merged into a new business enterprise and renamed Laos State Petroleum Corporation as it is today. In 1992 LSFC was reformed to further improve its business operations and provide services to the society in line with the new policy of the Lao Government.

LSFC has played an important role in stabilizing oil and gas energy for socio-economic development and national energy security, and at the same time doing business in competition with other fuel supply companies. Every year, the Corporation's import and distribution volume has grown significantly according to the increase in domestic fuel consumption and has become the leading corporation in the domestic fuel market.

Speaking at the signing ceremony, Mr. Nguyen Thanh Do - Member of the Board of Directors, General Director of Vietcombank Laos said: Vietcombank is the leading financial institution in Vietnam and has continuously received prestigious awards voted by international organizations.

With large total assets of over 1 million billion VND, Vietcombank is always selected by leading corporations, businesses and large enterprises in the domestic and international industry to provide financial products and services, such as arranging capital to finance projects, providing working capital, trade finance products, foreign currency trading, liquidity management...

Inheriting these advantages, Vietcombank Laos believes that it will bring to LSFC the best and most preeminent financial services in the market.

Mr. Nguyen Thanh Do also expressed his wish that with the great potential of the two units, in addition to the credit contract signed this time, today's ceremony will open up more cooperation opportunities for both sides so that Vietcombank Laos has the opportunity to introduce the best financial products to its partners.

Speaking in response, Mr. Anousin Pholsena - Acting General Director of LSFC Corporation committed to closely guiding and accompanying the Corporation's staff to fulfill the signed commitments, thereby realizing the commitments. good wishes of both parties into concrete results.

Mr. Anousin Pholsena expressed his hope that LSFC and Vietcombank Laos will implement comprehensive and long-term cooperation, contributing to the common development of the two sides as well as the socio-economic of the two countries Vietnam - Laos.