Petrolimex, Vietnam's largest oil product trader, opened its representative office in Cambodia on Monday, as part of its expansion plans in Southeast Asia.
Deputy Prime Minister, Pham Gia Khiem, said the event highlighted good relations between the countries and asked Petrolimex to ensure its product quality in the neighboring market, according to a report on the government website Tuesday.
Petrolimex Chairman, Bui Ngoc Bao, said the company plans to expand its business abroad, especially in Southeast Asia.
The representative office in Cambodia will develop into a company and will be the second overseas affiliate of the oil trader after the first one in Singapore, he said.
Cambodia is a fast growing market for oil products. Petrolimex holds more than a 50 percent share of the market with exports totaling US$700 million a year, according to the government report.