Petrovietnam Power Corporation (PV Power) said it has completed 69% of this year's profit before tax goal, with thermal power output expected to increase sharply in the coming months.
Ca Mau Thermal Power Plant is run by Petrovietnam Ca Mau Power Company, a subsidiary of PV Power. (Photo: pvpower.vn)
Hanoi (VNS/VNA) - Petrovietnam Power Corporation(PV Power) said it has completed 69% of this year's profit before tax goal,with thermal power output expected to increase sharply in the coming months.
In the first nine months of this year, the company's totalelectricity output reached 11.12 billion kWh, approximately 71% of the annualplan. The revenue and profit before tax were estimated at over 22.2 trillion VNDand 882 billion VND, respectively, completing 74% and 69% of the year's plan.
PV Power’s leaders said that the company had been stronglyaffected by adverse factors in the first nine months, including themisalignment between electricity demand and gas supply capacity, rising raw materialprices, higher production costs, and the impact of El Nino which caused adecrease in the electricity output of hydroelectric plants.
PV Power offered solutions to these problems, such as preparingequipment plans to support power production activities, managing cost accounts,and increasing the maintenance of factories.
Therefore, its business results met fundamental goals and exceededsome targets.
The company also said that the periodic maintenance of the powerplant is still being implemented on schedule. In mid-August, S1 Vung Angthermal power plant officially returned to the national grid.
Currently, the company is also focusing on implementing Nhon Trach3 and 4 power plant projects as well as researching renewable energy powerprojects.
According to Vietcombank Securities Company (VCBS), PV Power'sthermal power output is expected to be mobilised at a high level as El Nino hasreturned and will last until the end of 2024.
Meanwhile, Hua Na Hydropower JSC, a subsidiary of PV Power, hasjust submitted a stock listing registration application to the Ho Chi Minh StockExchange (HoSE). PV Power currently holds 80.72% of its charter capital./.
Fitch Ratings has affirmed PetroVietnam Power Corporation (PV Power)’s long-term foreign-currency issuer default rating (IDR) at “BB” with a positive outlook.
In face of a global economic downturn, especially adverse fluctuations of oil prices, subsidiaries of the Vietnam Oil and Gas Group (Petrovietnam) have flexibly taken measures to adapt to market volatility and boost production and business activities.
The PetroVietnam Power Corporation (PV Power) has set a target to generate nearly 7.84 billion kWh of electricity, earning a revenue of over 11.6 trillion VND (489.7 million USD) in the second half of 2023.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
Ca Mau Thermal Power Plant is run by Petrovietnam Ca Mau Power Company, a subsidiary of PV Power. (Photo: pvpower.vn) 
