President Truong Tan Sang visits PetroVietnam officials and workers (Photo: VNA)
Hanoi (VNA) – Pres🌼ident Truong Tan Sang hoped that the Vietnam Oil and Gas Group (PetroVietnam) will grow vigorously despite global economic downturns while meeting with PVN staff in Hanoi on February 4, on the occasion of the upcoming traditional Lu🦩nar New Year (Tet).
With 40 years of development, PetroVietnam, which began as a joint venture between Vietnam and the former Soviet Union, has hugely expanded its operational scale and effective cooperation with other countries, the President said.
This has lived up to the expectation of late President Ho Chi Minh upon his arrival in Azerbaijan – then a developing oil and gas nation, over 50 years ago, he added.
The endless effort of the 50,000 officials and workers of the group has significantly contributed to the local economy, as well as other fields such as defence-security and diplomacy, he stressed.
He suggested the national group be fully aware of the opportunities and challenges in 2016 given the country’s deep-and-wide global integration, and that it should have proper strategies and solutions for rapid and sustainable development.
The State leader said he hopes PetroVietnam will become a firm pillar in the local economy, with the best management capacity and highest economic efficiency.
Leaders of the national group reported that PetroVietnam grossed 560 trillion VND (25.2 billion USD) in revenues in 2015 despite global declining oil prices. Over the past five years, the group contributed over 836 trillion VND (37.62 billion USD) to the State budget.-VNA
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The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
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The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
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The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
President Truong Tan Sang visits PetroVietnam officials and workers (Photo: VNA)
