The Government plans to reduce its ownership stakes in some state energy companies, the Ministry of Industry and Trade said in early August.
The government plans to sell a 49 percent stake in Binh Son Refining and Petrochemical Company Limited (BSR), which runs Dung Quat Refinery Plant, said Deputy Minister of Industry and Trade Cao Quoc Hung.
The government also plans to reduce its ownership of PetroVietnam Oil Corporation (PVOil) from 100 percent to 51 percent and in PVcomBank from 51 percent to below 20 percent, Hung said.
The Vietnam Oil and Gas Group (PetroVietnam) would remain state-owned until at least 2030, he said.
Along with PetroVietnam, the State will maintain a decisive role in important subsidiaries, including PVGas and Vietnam National Petroleum Group (Petrolimex), he said. The state plans to lower its stake from the current 96.7 percent to below 75 percent in PVGas while it will remain at 75 percent in Petrolimex.
Nguyen Viet Son, Deputy General Director of General Department of Energy, said that the restructuring of the oil and gas sector would improve the sector's competitiveness.
The oil-gas sector will also attract private companies and foreign investors in oil refinery plants and allow them to sell their products as well as establish an overseas gas company, he said./.
The Vietnam National Oil and Gas Group (PVN) will focus on oil and gas survey, exploration and production as its core business line in the 2012-2015 period.
Slovakia is willing to cooperate with and assist Vietnam in developing its energy industry, Slovakian Deputy Prime Minister and Minister of Foreign and European Affairs Miroslav Lajcak said at the Vietnam-Slovakia Business Forum in Ho Chi Minh City on November 5.
Vietnam’s General Department of Energy and the Deutsche Gesellschaft fur Internationale Zusammenarbeit GmbH (GIZ), inked an agreement on June 12 to implement a joint project to scale up wind power in Vietnam.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
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.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
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.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
Illustrative image (Source: VNA)
