General Secretary of the Communist Party of Viet Nam (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 Viet Nam, witnessed the signing of the document. — VNA/VNS Photo

Phongsubthavy Group of Laos will be the exclusive distributor of Vietnamese cars VinFast under a memorandum of understanding signed on Monday.

General Secretary of the Communist Party of Viet Nam (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 Viet Nam, witnessed the signing of the document.

Phongsubthavy wants to establish a system of VinFast dealerships in Laos to diversify car supplies in the country.

VinFast said that Phongsubthavy would 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 had chosen VinFast because of its incredible growth, adding VinFast had 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 would 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 co-operated with Viet Nam Electricity (EVN) to export electricity to Viet Nam. — VNS