Enforcement discipline: Key factor
Petrovietnam is entering a development phase of particular importance with the Development Strategy to 2050 and the 5-year plan 2026-2030. These orientations not only set growth targets but also require innovation in management methods, implementation culture and organizational capacity throughout the Group.
The goal of joining Fortune Global 500 is identified as an important strategic orientation. Chairman of Petrovietnam's Member Council Le Ngoc Son affirmed that this is a steadfast orientation that the Group is determined to implement; therefore, solutions and investment portfolios in the strategic implementation process must ensure feasibility, accuracy and efficiency, sufficient to realize the set goals.
In that context, strategic implementation discipline becomes a key factor. Chairman of Petrovietnam's Member Council Le Ngoc Son requested the entire system to firmly adhere to the principle of "focusing on pillars - prioritizing portfolios - implementation discipline"; and at the same time maintain and optimize existing assets, improving efficiency.
The strategy is specified in each field, from exploration and exploitation, gas, electricity, oil refining and petrochemicals, technical services, transportation, product distribution to scientific research, digital transformation and development of energy centers.
In the field of exploration and exploitation, Petrovietnam continues to expand international E&P activities, promote M&A to increase reserves and output. The gas sector focuses on developing LNG value chains and expanding international business; the electricity sector implements projects in accordance with the adjusted Power Plan VIII.
The Group also promotes the development of an energy center in Quang Ngai, an energy service center in Vung Tau, expands crude oil and oil product business and improves the efficiency of coordination in value chains.
To realize these goals, there needs to be unity between the Group's orientation and management activities at the enterprise. In which, the Capital Representative of Petrovietnam plays a bridging role, bringing policy, regulations and strategic goals into practice, while fully exercising the rights and responsibilities of capital owners.
The quality of the Representative's operation directly affects the efficiency of management, preservation and development of Petrovietnam's capital. In value chains such as gas - electricity, oil and gas, electricity, fertilizers, construction, chemicals or technical services, the coordination between units and the Representative is important for the operational efficiency of the entire chain.
Along with that, building a KPI system, preparing successor human resources and perfecting the coordination mechanism will contribute to improving the quality of the Representative team, meeting management requirements in the new stage.
Improving governance quality
In parallel with the requirement to implement the strategy, Petrovietnam continues to improve the governance model according to OECD principles. Chairman of Petrovietnam's Members' Council Le Ngoc Son requested the entire Group to consider this as a platform for modernizing governance, enhancing transparency, improving management quality, supervision and decision-making support.
The implementation of risk management, internal control and internal audit according to OECD standards shows that management requirements are increasingly deepening. This is the foundation for improving transparency, accountability and supervision efficiency at enterprises.
For member units, applying OECD standards helps strengthen the governance environment, enhance prestige, increase international cooperation capabilities and expand markets. Practices at enterprises in the fields of fertilizer, transportation, exploration and exploitation, drilling and technical services show that good practice governance models bring many competitive advantages.
In that process, the coordination between the Representative and the Group's professional departments plays an important role. Professional departments both advise, guide, and support the handling of issues under their authority; conversely, the Representative is a channel to reflect practice from businesses, helping the Group promptly adjust management mechanisms and improve management quality.
Digital transformation is also identified as a pillar to improve operational efficiency. Experience at Petrovietnam and units such as BSR, PVCFC shows that digital transformation is not only about applying technology but also innovating management, administration and decision-making methods based on data.
The 2026-2030 period will be an important milestone for Petrovietnam to realize its strategic goals, expand its development space and affirm its pioneering role in the national industry - energy sector.
To achieve that goal, the Group needs a synchronous management system, a strong implementation culture and a team of Representatives with sufficient capacity, responsibility, and bravery to turn strategic goals into reality.
