Nam Long Group and Vietravel Group sign strategic cooperation agreement

On October 12, 2023, Nam Long Investment (HOSE: NLG) and Vietravel Tourism Company officially signed a Memorandum of Understanding on cooperation and business development. The agreement aims to leverage and maximize strengths, potentials, as well as support each other in expanding and developing suitable areas of operation in accordance with the business plan and strategy, effectively utilizing the resources of each party to achieve set objectives

At the signing ceremony, Vietravel Group was represented by Mr. Nguyen Quoc Ky - Chairman of the Board of Directors and Chairman of Vietravel Tourism Company, Mr. Tran Doan The Duy - Vice Chairman of the Board of Directors and CEO of Vietravel, Mr. Vo Quang Lien Kha - Member of the Board of Directors and Deputy CEO of Vietravel, along with many leaders from member companies. Nam Long Group was represented by Mr. Nguyen Xuan Quang - Chairman of the Board of Directors, Mr. Tran Xuan Ngoc - CEO of the group, Mr. Van Viet Son - CEO of Nam Long Land, and other representatives.

The purpose of signing this Memorandum of Understanding is to improve the utilization of advantages and potentials, and to provide mutual support in expanding and developing suitable areas of operation in line with the business plan and strategy. Both Vietravel Group and Nam Long Group will effectively utilize their resources to achieve business objectives. This cooperation will enhance their image and position, strengthen their tradition of cooperation, and create opportunities for mutual support and development.

At this event, the two parties agreed to sign a Memorandum of Understanding with the following contents: Vietravel and Nam Long create favorable conditions for both parties to introduce and use products/services through each other's system; both parties become business customers using products/services suitable for the system; cooperate in investing and capitalizing on Nam Long's township amenities such as MICE cooperation, exploiting sports facilities, bus hub, etc., to help Nam Long's urban area become a tourist-cultural-entertainment destination, while also enabling Vietravel to develop new business development channels. Additionally, both sides will work together to build marketing programs to create brand resonance effects between them.

Mr. Nguyen Quoc Ky - Chairman of the Board of Directors of Vietravel Group and Mr. Nguyen Xuan Quang - Chairman of the Board of Directors of Nam Long Investment signed a memorandum of understandin

Speaking at the signing ceremony, Mr. Nguyen Quoc Ky - Chairman of the Board of Directors of Vietravel Group said: "With the advantage that Vietravel - the leading travel enterprise in Vietnam has a network spread throughout the country and abroad, and Vietravel Airlines - the first airline travel enterprise in Vietnam, we believe that the cooperation between Vietravel Group and leading enterprises in the real estate field such as Nam Long Group is necessary to Plan a comprehensive, sustainable tourism strategy with distinct values. Vietravel also further strengthens connections with units outside the industry with the goal of building and promoting the brand, clearly positioning each target customer segment, contributing to sustainable tourism growth in parallel with the mission of economic and social development.

According to Mr. Nguyen Xuan Quang, the Chairman of Nam Long Investment Joint Stock Company, the company is developing large-scale integrated townships, such as the Waterpoint integrated township covering 355 hectares along 5.8 hectares of Vam Co Dong River. The township offers modern utilities that cater to various needs, including living, studying, working, shopping, and entertainment. The partnership between Nam Long and Vietravel Group, a leading tourism enterprise with a deep understanding of culture, tourism, and entertainment, will help leverage the strengths of the township in a professional manner. The goal is to create destinations that are not only residential but also provide quality living spaces for residents and the regional community.

Both companies expect this collaboration to be an opportunity to promote their strengths and potentials while supporting each other in expanding and developing their respective fields. This aligns with Nam Long's business strategy of contributing to Vietnam's economy through strategic projects.

Source: Nam Long Group (HOSE: NLG)