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Well met in Vietnam: CPC searches for business partners

Well met in Vietnam: CPC searches for business partners

3 May2018

Chairman Tai flew to Vietnam to officiate at the ground-breaking ceremony for the Maxihub Company plant and while there took the opportunity to assess potential strategic partners for future projects. In that regard, on 17th January last he visited Dr. Tran Duc Chinh - senior consultant to the Vice-President of VietJet; and a Vice-President at HD Bank, Mr. Tran Hoai Nam.

Dr. Tran offered that he had previously served in the PetroVietnam Corporation and so is quite familiar with the petrochemical industry. He went on to say that CPC would be welcome as an investor in that sector; and further, that in view of his present responsibilities and past experience in the financial field, he would be able to lend assistance with project financing in the future.

For his part, Chairman Tai described CPC’s existing commercial operations in Vietnam. There has for some time been a jet-fuel supply contract with VietJet; there is the 20-plus years spent in the business of importing, bottling and selling LPG in the country’s north; and of course now there is the development phase of its investment in a lubricating oil blending plant and its associated storage and distribution facilities.

As well as all that, CPC has amassed years of experience in the operation of both land-based and subsea oil and gas pipelines and hopes to be able to put it to good use in Vietnam- possibly through more extensive cooperation with Vietnamese entities in the areas of petrochemicals and oil & gas exploration and production.

Expanding the business: starting a brand new page in the book

The following are some of the main reasons behind a successful investment:

Exercising care and caution in choosing the investment industry – and in selecting joint-venture partners; structuring a joint-venture structure so as to minimize risk; familiarity with local laws and regulations pertaining to investment; input of the requisite financial, technical and managerial skills, backed by a thoroughgoing and conservative market assessment.

But the most important factor in raising the probability of success is the human one - gathering on board the people with the right qualifications for the job, so that operational planning will hold to the goals determined at the outset.

We believe that under Chairman Tai’s leadership, a new page will be added to CPC’s blueprint for business development. In that endeavor, the evaluation of new investment opportunities will be thorough and will include a search for both qualified strategic partners and favorable investment locations.