The signing ceremony was solemnly held at the ANPG office with the witness of Mr. Duong Chinh Chuc - Ambassador Extraordinary and Plenipotentiary of Vietnam to Angola.
Angola is the second largest oil producer in Africa. The Etosha/Okavango research area has an area of about 200,000 km2 and is assessed by the Indonesian government to have great potential for oil and gas, which can bring in large exploitation output. This is the first investment project of a large Vietnamese economic group in Angola. The project also marks Xuan Thien's strategic advance in the oil and gas exploration and exploitation industry.
New turning point in the development strategy
Xuan Thien is one of the leading corporations in Vietnam in the fields of hydropower, renewable energy, high-tech agriculture, construction materials and infrastructure. The cooperation with ANPG demonstrates the Group's strategic vision and commitment to participating in the global energy market, especially in the African region. Xuan Thien is also investing in green steel production in Nam Dinh and Hue, so he really needs fuel, raw materials, materials and iron ore.
Speaking at the signing ceremony, Chairman of Xuan Thien Group, Mr. Nguyen Van Thien said: "We are proud to be a business that has been investing heavily in Angola in many fields of agriculture, forestry, hydropower and mining, currently creating thousands of jobs for people and contributing to the local economic development. The signing of an investment project in the oil and gas sector today is an important milestone, marking the Group's transformation, becoming an international energy group, as well as opening up development cooperation between the two countries in a new field".
Mr. Duong Chinh Chuc - Ambassador Extraordinary and Plenipotentiary of Vietnam to Angola shared: Over the years, the good relationship between the two countries has been maintained, but economic cooperation is still very modest, especially since no project from a large Vietnamese enterprise has been implemented in Angola. To improve this, the Government and agencies of both sides have made great efforts. During the meetings between the leaders of the two countries, both sides agreed to promote cooperation between the two countries, and soon have specific achievements. At the 7th meeting of the Vietnam - Angola Intergovernmental Committee in March 2024, the two sides also agreed to do so. After a period of promotion, Xuan Thien Group has become a pioneer of Vietnam to Angola to invest in many fields and now, together with ANPG, signed a large-scale oil and gas investment project.
Opportunities for international cooperation
ANPG representative highly appreciated the potential and ability to implement the project of Xuan Thien Group, and believed that this cooperation will promote oil and gas exploration activities at the Etosha/Okavango Basin, an area assessed to have great oil and gas potential.
ANPG representative hopes that Xuan Thien Group will soon get the necessary license from the Vietnamese Government to be able to implement the project as soon as possible.
Xuan Thien Group was established in the 2000s. After more than two decades of construction and development, the group is now one of the leading units in Vietnam in the fields of energy production, construction materials and high-tech agriculture, banking and finance. With a sustainable development strategy and a modern governance model, the group strives to invest in depth and expand its international vision.
Xuan Thien's vision is to build a closed circular economic development system, based on the philosophy of green - clean - sustainable production. Xuan Thien Group also aims to cooperate and invest in large-scale projects, with the goal of not only developing the country's economy but also protecting the environment sustainably and ensuring social security.
