Petrovietnam builds a chain of links, enhances competitiveness

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Petrovietnam and Viettel continue to strengthen technology cooperation

This orientation not only demonstrates the concretization of Petrovietnam's new strategy when it is named Vietnam National Industry and Energy Group, but also proactively implements the Prime Minister's wish for state-owned enterprises on the task of strengthening mutual coordination to "make a storm out of nothing" in the challenging international context.

In order to realize the development strategy in the new period, meet the trust and expectations of the Party and State leaders, realize Conclusion 76-KL/TW dated April 24, 2024 of the Politburo, as well as be in line with the energy transition trend, Petrovietnam has identified a new development model with 3 strategic pillars of energy - industry - services, in which energy is the core pillar. Petrovietnam will play a leading role, promoting the development of other sectors and fields of the economy through creating linkage chains and cooperation with leading corporations and companies in the country and the region.

In addition to building more than 30 investment and production linkage chains, contributing to the formation of a modern and synchronous industrial ecosystem, in recent times, with its position as a leading enterprise in Vietnam in the fields of energy, industry and services, Petrovietnam has implemented many comprehensive cooperations with corporations and enterprises outside the industry. The goal is to optimize resources, expand domestic and foreign markets, strengthen cooperation and linkages, promote strengths, expand business space, increase national and Group competitiveness.

These steps demonstrate Petrovietnam's proactive strategy in linking with domestic non-industry enterprises, while expanding the market and enhancing competitiveness for both Petrovietnam and domestic partners.

In particular, Petrovietnam’s orientation to expand cooperation links is also a proactive implementation of the Prime Minister’s direction on enhancing support and cooperation between economic groups. Specifically, the Prime Minister emphasized that with the highest responsibility, with the spirit of patriotism, pioneering and setting an example, state-owned enterprises must coordinate with each other and with private enterprises better; make joint efforts to “make a storm out of a few”; do a good job of strengthening the links between state-owned enterprises and the private sector to create breakthroughs, clearly assigning people, work, time, responsibility, authority and products.

Petrovietnam's cooperation with non-industry enterprises in proactively implementing the Prime Minister's direction is not only a strategic step to expand the market, but also contributes to improving competitiveness, innovation and creating momentum for multi-industry economic development in Vietnam.

One of the evidences for Petrovietnam's strategy of expanding cooperation was demonstrated right after the Prime Minister issued the decision to change the name of the Vietnam Oil and Gas Group to the Vietnam National Energy and Industry Group. Petrovietnam and the Vietnam National Coal and Mineral Industries Group (Vinacomin) signed a comprehensive cooperation agreement.

The cooperation agreement aims to promote the existing strengths and resources of the two groups, especially in fulfilling the responsibility of ensuring national energy security and seeking new development spaces, contributing more to the country's development goals in the new era. This agreement is not only the connection of two pillar groups of the energy and mineral industry but also a practical step, concretizing the orientation of the Party and State in improving the effectiveness of linkages between state-owned economic groups in energy conversion and green development activities, contributing to realizing the aspiration for national development in the new era.

Petrovietnam leads the economic chain from energy to industry and services

Petrovietnam and Vietnam Airports Corporation (ACV) have also signed a comprehensive cooperation agreement to promote and improve the efficiency of the parties' business operations, contributing to socio-economic development. This is an opportunity for Petrovietnam and ACV to create growth values: aviation fuel supply, renewable energy development, logistics services, digital transformation, research and application of science and technology... From there, together we can develop sustainably and contribute to the common development goals of the country in the new era.

As enterprises operating in the country's basic industrial sector, Petrovietnam and the Vietnam Chemical Group (Vinachem) have established comprehensive cooperation, with the aim of promoting the existing advantages and resources of the two groups, opening up opportunities for breakthroughs together. The cooperation agreement focuses on research and development in the field of high technology and basic industry such as: research, production of raw materials and chemicals for high-tech industry, semiconductor industry; research, deployment of science and technology, digital transformation... and other fields such as: mining, mineral processing; production of basic chemicals and consumer chemicals, pharmaceuticals; development of renewable energy; logistics.

The Group always identifies science and technology as the leading growth driver, Petrovietnam has also cooperated with domestic and foreign corporations and technology companies. At the end of 2024, Petrovietnam and the Military Industry and Telecommunications Group (Viettel) officially continued to strengthen technological cooperation. The operation of the oil and gas database system and the signing of a new cooperation agreement are important milestones in this cooperation. The previous cooperation between the two corporations in 2019 helped the two sides exploit potential and support each other in developing their fields of operation. In addition, Petrovietnam is strengthening cooperation with other technology companies to promote digital transformation and optimize operations: Cooperating with NGS Company in deploying the resource management system (ERP).

In the financial sector, Petrovietnam has also had comprehensive cooperation agreements with Vietcombank and Agribank to best promote the potential of each party, improve operational efficiency, and contribute to the sustainable development of the country's socio-economy.

Thus, in addition to doing well in international cooperation: contracts with Petronas, establishing relationships with energy partners around the world; firmly consolidating the industry chain, activities to expand cooperation and association with enterprises outside the ecosystem will continue to be promoted by Petrovietnam in the coming time. This affirms Petrovietnam's strategy when having a new identity, not only as a traditional oil and gas and energy group, but also as the center of industry, services and national energy pillars.