PM expects Petrovietnam to rank in region's top 5 leading enterprises
The government leader pointed out an ambition for Petrovietnam to climb into the top seven, and ideally the top five leading enterprises of the region.
PM Pham Minh Chinh speaks at the 4th Party Congress of Petrovietnam for the 2025-2030 tenure. (Photo: VNA)
Hanoi (VNA) – Prime Minister Pham Minh Chinh has congratulated the state-owned Vietnam National Industry – Energy Group (Petrovietnam) on securing the nation’s energy, foodꦆ and economic security, whi🐼le also ensuring social welfare and maritime sovereignty.
Addressing the 4th Party Congress of Petrovietnam for the 2025-2030 tenure in Hanoi on August 3, PM Chinh praised the group for meeting and surpassing all 12 targets set out in its third Party Congress’s Resolution, attributing its success to strategic restructuring, strict adherence to the Party and State’s policies and guidelines, and improved policies and mechanisms in the energy sector, especially oil and gas.
The government leader pointed out an ambition for Petrovietnam to climb into the top seven, and ideally the top five regional enterprises. To such end, he urged the group to lead in sci-tech, innovation, and digital transformation across its pillars of energy, industry, and services, while aligning with the Politburo’s Resolution No. 59 for global integration and Resolution No. 68 to bolster the private sector's growth.
Petrovietnam must adopt smart, modern governance solutions; optimise production and business efficiency; respond flexibly to market fluctuations, capitalise on the global supply chain restructuring to maintain sustainable development with double-digit growth goals in the coming years, he said.
PM Pham Minh Chinh explores Petrovietnam's major products. (Photo: VNA)
Its action must follow the principle of ensuring clear roles, tasks, responsibilities, authority, timelines, and outcomes for the benefit of the country and people, without any personal motives or corruption, and loss or waste of national assets, PM Chinh added.
He directed the Congress to further refine the Petrovietnam Party Organisation's documents and provide feedback on documents prepared for the 14th National Party Congress and the first Congress of the Government’s Party Organisation.
In conclusion, the PM wished that the Petrovietnam Party Committee would continue to foster solidarity and unity. With strong determination, responsibility, and a spirit of dedication, it could generate collective strength to successfully fulfill its mission and development goals.
In 2024, Petrovietnam hit a milestone, posting revenue exceeding 1 quadrillion VND (38.4 billion USD) for the first time. It dominates Vietnam’s energy market, meeting over 75% of petroleum demand, supplying 73% of fertilisers, controlling more than 75% of the liquefied petroleum gas market, and contributing 10% of national power output.
Beyond its core business activities, Petrovietnam invested nearly 3.57 trillion VND in social welfare programmes, funded the construction of 10,262 houses for disadvantaged households, planted 1.2 million new trees, and donated 25,700 units of blood./.
The group needs to continue implementing reforms and innovations, applying advanced governance methods to enhance management efficiency, manage resources effectively, and improve competitiveness, he said.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The visits reflected the elevated position of Vietnam’s foreign policy in the new era—aimed at not only advancing ties with key regional partners like Egypt and Angola but also delivering a strategic message about Vietnam’s commitment to deepening relations with African nations as a whole.
At their talks and meetings, President Cuong and Angola’s top leaders affirmed that the close brotherhood and traditional friendship are a valuable shared asset and a solid foundation for the two nations to advance into a new phase of development.
The ruling People’s Movement for the Liberation of Angola (MPLA) attaches great importance to the friendship, solidarity, and comradeship with the Communist Party of Vietnam, and voiced her Party’s wish to further deepen and expand relations between the two sides for the benefit of the Vietnamese and Angolan people.
Vietnam pledges to do its utmost to build an ASEAN of solidarity, consensus, and unity in diversity, and to foster a fast and sustainable development path for ASEAN, grounded in science, technology, and innovation, said Prime Minister Pham Minh Chinh.
Party General Secretary To Lam called on the criminal police force to accelerate the application of science, technology, artificial intelligence, and digital transformation in criminal investigation tasks such as crime prevention, detection, tracking and verification, ensuring that no area remains out of their reach.
Many Koreans living, studying, and working in Hanoi see the upcoming state visit to the Republic of Korea (RoK) by Party General Secretary To Lam as an opportunity to generate strong synergy in economic cooperation, people-to-people exchanges, and cultural understanding.
The achievements of the five decades of Vietnam–Angola cooperation provide a strong and enduring foundation, as well as momentum for the two sides to consolidate, expand, and bring their partnership into a new phase of development.
Prime Minister Pham Minh Chinh stressed that the emulation and commendation work is a vital driver, fostering patriotism, dedication, and collective momentum in the run-up to the 11th National Patriotic Emulation Congress, Party congresses at all levels, and the 14th National Party Congress.
Emphasising the need for sustainable, long-term collaboration, National Assembly Chairman Tran Thanh Man called on Japanese investors not only to bring in capital but also to share expertise and modern technology, especially in areas such as green transformation, the circular economy, and advanced corporate governance.
President Luong Cuong's activities during his state visit to Angola, the celebration of the financial sector's 80th traditional day, and the Foreign Ministry's flag-hoisting ceremony marking the 58th founding anniversary of ASEAN are among news highlights on August 8.
Vietnamese Ambassador to Thailand Pham Viet Hung praised the Thai Ministry of Foreign Affairs’ meaningful initiative, noting that the ASEAN Family Run was not only a sporting activity but also an opportunity for diplomats and their families to show unity, connection, and solidarity within the ASEAN family.
Politburo member, Prime Minister Pham Minh Chinh on August 8 attended the first congress of the Party Organisation of Tay Ho ward of Hanoi for the 2025–2030 term, during which he called for fresh momentum to turn the ward into a model that takes the lead in all fields.
The size of the economy increased from over 5 billion USD in 1986 to over 476 billion USD by 2024, making Vietnam the fourth-largest economy in Southeast Asia and the 34th largest in the world.
The ASEAN flag-hoisting ceremony is observed by the 10 ASEAN member countries on August 8 every year, aiming to spread and promote the ASEAN identity and affirm the determination to unite and cooperate for the common aspiration of long-term peace and prosperity of Southeast Asian countries under the common roof of the ASEAN Community.
Vice Chairman of the municipal People’s Committee Nguyen Manh Cuong highlighted ASEAN’s nearly six decades of development, during which the region transformed from division to harmony, from confrontation to cooperation, and from poverty to dynamic growth, becoming a global bright spot for regional cooperation.
Thirty years ago, on July 28, 1995, Vietnam’s accession to ASEAN marked a historic strategic decision, opening a new chapter in the country’s integration process and beginning its strong rise.
Ambassador Vu Le Thai Hoang has outlined specific priorities and proposals for cooperation with the UNODA in preparation for the upcoming 11th Review Conference of the Non-Proliferation of Nuclear Weapons (NPT).
The Vietnamese Party leader's visit is therefore expected to mark a new stage in the development of the Comprehensive Strategic Partnership between the two countries, with a focus on such areas as digital transformation, supply chains, semiconductors, clean energy, and maritime security, Choe assessed.
At their meeting, which took place in the Angolan capital of Luanda on August 7 as part of State President Luong Cuong’s ongoing state visit to the African nation, the two officials also agreed to make full use of existing cooperation mechanisms, particularly the Vietnam – Angola Intergovernmental Committee, and step up exchanges of delegations at all levels.
President Luong Cuong's talks with his Angolan counterrpart João Manuel Gonçalves Lourenço, Vietnamese leader's receptions for a delegation from the Japan – Vietnam Parliamentary Friendship Alliance, and the Government's regular meeting for July are among news highlights on August 7 evening.
