On January 20, the Quang Binh Economic Zone Management Board held a ceremony to hand over the investment policy decision and investment registration certificate for the Petro Lao Bonded Petroleum Depot project to Petro Lao Company Limited.
The project to build a bonded warehouse and oil pipeline from Hon La seaport, Quang Binh province to Khammouane province (Laos) is an important content in the bilateral cooperation agreement between the Government of the Socialist Republic of Vietnam and the Government of the Lao PDR, signed on December 27, 2015. The project covers an area of 9.36 hectares, with a total investment of VND 589,443 billion.
Mr. Somvang Vongvilay - Chairman and Director of Petro Lao Company Limited - expressed his sincere thanks to the leaders of Quang Binh province and related units for their support during the project implementation.
He affirmed that Quang Binh is an attractive investment destination thanks to its synchronous infrastructure and open investment attraction policies.
When completed in June 2027, the project will create jobs for 100-200 local workers and contribute about 30 billion VND in fees through Cha Lo International Border Gate each year, contributing to promoting regional economic development.
Mr. Phan Phong Phu - Vice Chairman of Quang Binh Provincial People's Committee - emphasized that the project not only has economic significance but also strengthens the special friendship between Vietnam and Laos.
The Vice Chairman of the Quang Binh Provincial People's Committee requested Petro Lao Company Limited to mobilize sufficient capital to implement the project on schedule, ensuring it starts construction in December 2025 and is completed in June 2027.
At the same time, the Provincial People's Committee requested departments, branches and localities to coordinate closely to support investors in fully implementing procedures in accordance with legal regulations. In particular, it is necessary to pay attention to regulations on national defense and security in coastal border areas, foreign labor management and local labor recruitment, in order to ensure security, order and community interests.
