On August 7 in Hanoi, Vietnam National Industry - Energy Group (Petrovietnam) and Sovico Group Joint Stock Company (SOVICO) solemnly held a signing ceremony of the Comprehensive Cooperation Agreement.
This cooperation marks a new step in development, opening up opportunities to effectively exploit bilateral potential, increase value and competitiveness, and contribute to the sustainable development of the country.
Currently, Petrovietnam is actively implementing tasks in the spirit of Conclusion No. 76-KL/TW dated April 24, 2024 of the Politburo as well as implementing the Resolution of the 4th General Meeting of the Group Party Committee.
In particular, Petrovietnam continues to affirm its pioneering role in ensuring national energy security, adapting to the trend of energy transition and extensive international integration. In addition, the Group has established new strategic partners, expanded value chains, and connected cross-border investment.
Speaking at the 4th Petrovietnam Party Congress, term 2025-2030, Prime Minister Pham Minh Chinh stated that the goal in the next 5 years is to bring Petrovietnam into the TOP 5 largest corporations in Southeast Asia, continue growth to contribute to promoting macroeconomic growth and especially energy security.
To carry out the above tasks, in the new development phase, Petrovietnam focuses on restructuring the operating model, establishing three strategic production - business pillars including Energy - Industry and High-Tech Services.
Energy pillar plays a leading role in ensuring national energy security, synchronous development from traditional oil and gas to renewable energy, offshore wind power, hydrogen, LNG, green ammonia.
The Industrial pillar will promote the development of the petrochemical, chemical, new materials, mechanical engineering industries, and participate deeply in the global energy supply chain.
For the pillar of High-quality Services, the Group will focus on developing a high-quality technical service ecosystem, logistics, consulting - design - construction - operation, digital transformation and science and technology according to international standards.
Clearly defining three strategic pillars is the basis for Petrovietnam to implement substantive and effective cooperation agreements with partners, especially the private sector with long-term development capacity and vision.
Affirming a particularly important role in the national economy, with intelligence, aspiration, daring to think and daring to do, Petrovietnam is a pioneer, affirming its mettle, intelligence and long-term vision, improving labor productivity, achieving "double-digit" growth, rapid and sustainable development.
With the spirit of "Sources originating from thinking and vision, motivation originating from innovation, strength originating from people and businesses", in recent times, Petrovietnam has demonstrated its leading role, promoting other sectors and fields of the development of the economy through creating chains of linkages, cooperation with the country's leading corporations and companies in the state-owned enterprise sector such as Viettel, ACV, TKV, Vinachem, VRG, VIMC...
In addition, it also expands cooperation with leading large private enterprises such as Hoa Phat, SOVICO...
Cooperating with leading Vietnamese enterprises not only contributes to helping Petrovietnam and its partners strengthen connections, expand scale, increase production and business capacity, optimize competitiveness but also promote economic development.
On behalf of Petrovietnam, Chairman of the Board of Members (BOD) Le Manh Hung respected and highly appreciated the strong development of SOVICO and SOVICO's contributions to the country through ecosystem activities such as finance, banking, aviation, real estate, resort tourism and energy.
Petrovietnam Chairman of the Board of Directors Le Manh Hung shared that according to the Resolution of the 4th Congress of the Group's Party Committee, the Group aims to enter the top 500 largest enterprises in the world by 2030 - Fortune 50000.
To achieve that goal, Petrovietnam leaders affirmed that expanding cooperation with capable, experienced and financially potential private partners such as SOVICO is a strategic step to mobilize social resources, promote innovation and increase investment efficiency throughout the value chain.
2025 marks the 50th anniversary of the establishment and development of Petrovietnam. After half a century, Petrovietnam is now the number 1 economic group in Vietnam, playing a pivotal role in economic development and ensuring energy security for the country.
With strong financial potential and advanced science and technology foundation, along with a team of highly qualified managers and technical experts, Petrovietnam owns a large-scale enterprise ecosystem, including many member units and companies operating and providing products and solutions in 3 core pillars including Energy - Industry - High-quality Services.
