Phonesack Vietnam Company Limited (Vietnam)

The subject is a foreign invested company from Laos. In the past, the subject registered the project to build a wood processing factory for export purpose at Supporting Industrial Park, Ky Lien Ward, Ky Anh Town, Ha Tinh Province, Vietnam. The initial plan of the subject was importing the input material of solid wood from Laos used for the factory. However, Laos Government has not allowed to export solid wood from Laos to other countries anymore in recent years. Therefore, the project of building a wood processing factory of the subject has to delay up to now as revealed by Ms. Luan – Project Staff.Following the new strategy, the subject has changed the business line into importing and trading coal since the end of 2021. Thus, the subject just generated small net sales of VND 9.6 billion in the fiscal year of 2021. Coming to the fiscal year of 2022, the net sales increased so strongly to nearly VND 1.2 trillion thanks to developing and expanding the new business line successfully.  PhoneSack Group – the parent company of the subject is the coal mine owner in Laos. The coal is mainly imported from Laos to Vietnam through La Lay border gate in Quang Tri Province as revealed by Ms. Luan – Project Staff.