Investment cooperation in oil and gas and green energy sectors discussed in Hanoi

Nam Son Group and Green Energy Trading Joint Stock Company (GEC), together with their partner Khai Bình Oil & Gas Co., Ltd. (China), discussed cooperation across the oil refining and petrochemicals value chain, with an initial phase valued at about VND 500 billion.

Focus on Vietnam’s gasoline value chain

At the meeting, Lin Huijiang, Southeast Asia Project Director of Khai Bình Oil & Gas, said Khai Bình is not only a trading unit but also an oil and gas ecosystem with long-standing operations, including strengths in wholesale gasoline and fuel oil, diesel, and port infrastructure, buoys, and professional loading/unloading services.

He said the purpose of the visit to Vietnam is to study and engage deeply in the gasoline value chain, from reviewing tax policies and import license requirements to conducting on-site surveys to lay the groundwork for long-term investment. Lin Huijiang added that the company has the technology and supply capacity to provide materials meeting Vietnam’s technical standards, and expressed a desire to work with a capable local partner to carry out local processing and refining of finished oil products to optimize costs and profits.

GEC highlights licensed blending and network capacity

Responding, Tran Van Canh, General Director of GEC, affirmed the company’s position in Vietnam’s oil and gas sector. He said GEC has been licensed by the Vietnamese government to manufacture and blend, describing this as “key technology” for converting raw materials into high-quality gasoline.

Canh also noted that GEC holds the core blending formula and maintains an international network with several large plants. Based on its experience and understanding of the Southern gasoline market, he proposed strategic guidance for the joint venture, including acquiring oil and gas plants that are facing difficulties.

Expansion beyond oil and gas into large-scale agriculture

In addition to the oil and gas cooperation, Nam Son Group outlined a development path for large-scale agriculture to demonstrate financial capacity and governance capability.

Pham Dinh Huynh, Chairman of Nam Son Group, said the company is applying high-yield rice varieties together with a program using 100% organic fertilizer, including rice tolerant to saline and acidic soils. He also cited soil improvement measures aimed at reducing emissions and eliminating residual micronutrients in soil.

Huynh said Vietnamese rice has global market credibility and that the approach is expected to deliver high profits for farmers, supporting national food security. He added that Nam Son Group participates in and takes responsibility for developing the rice-growing region together with Green Energy, including working with local authorities and submitting surveys for large-scale rice cultivation planning under a model cooperative framework, described as one of the largest efforts to date.

Phased implementation plan and compliance commitments

The parties proposed a phased implementation plan to ensure safety and trust. Phase 1 focuses on commercial activities, prioritizing the procurement of raw materials to verify financial capacity, product quality, and each party’s credibility, with strict compliance with Vietnamese laws and international practices.

In Phase 2, after commercial operations prove effective, the parties plan to advance deeper cooperation in production and investment. This includes outsourcing, blending, and building or acquiring plants. The selection of plants, equipment assessment, and determination of product portfolios will involve advisory input and direct guidance from experts.

All participants reaffirmed that cooperation will be carried out under principles of transparency, honesty, and legal compliance. They said the process—from contract signing to cash flow control—would be disclosed to support transparency and sustainable development.

Quality standards and import procedures

The parties said material and product quality standards will meet international norms in line with Vietnamese law. Nam Son and GEC were described as a unified entity to strengthen linkage and expand cooperation opportunities with partners.

Regarding procedures, Vietnam (through the partner) confirmed readiness to prepare import license conditions and handle legal documentation and payments.