The BK-20 rig belonging to the Bach Ho oilfield. (Photo: VNA)
BaRia – Vung Tau (VNA) - TheVietnam-Russia oil and gas joint venture Vietsovpetro has planned to earn 1.38billion USD in revenue in 2020.
Speaking at a conference on January 3 to review its operations in 2019and set out orientations and tasks for 2020, leaders of the joint venture saidthe Vietnamese side is hoped to gain 102 million USD in profit, while theRussian side, 98 million USD.
The firm is expected to contribute 630 million USD to the State budget thisyear.
At the 52nd meeting of theVietsopetro Council, the two sides set a goal to produce 3.12 milliontonnes of oil and 70.4 million cu.m of natural gas in 2020.
In 2019, Vietsovpetro put two oil rigs into operation,meeting its target to expand exploitation areas.
Thanks its efforts, the joint venture’s oil output increased over236,000 tonnes.
Vietsovpetro rakedin 1.79 billion USD from oil sales in theyear, equivalent to 112.4 percent of the set plan.
It earned 446.4 million USD inprofits and contributed over 1.15 billion USD to the State budget./.
The Vietnam-Russia oil and gas joint venture Vietsovpetro raked in about 1.28 billion USD from oil sales in the first eight months of 2019, 19.4 percent more than its plan.
The Vietnam National Oil and Gas Group (PetroVietnam) has fulfilled and surpassed most of the production targets set for September and the first nine months of this year.
The Vietnam - Russia oil and gas joint venture (Vietsovpetro) has welcomed the first flow of commercial oil from the BK-20 rig belonging to the Bach Ho field.
The Vietnamese Government always gives the top priority to oil and gas cooperation projects with Russia, said Prime Minister Nguyen Xuan Phuc at a reception for General Director of Zarubezhneft JSC Sergey Ivanovich Kudryashov in Hanoi on December 13.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
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.
The BK-20 rig belonging to the Bach Ho oilfield. (Photo: VNA) 
