The workshop took place under the chairmanship of Chairman of the Board of Directors of Vietnam National Industry - Energy Group (Petrovietnam) Le Manh Hung, with a presentation from Boston Consulting Group (BCG) Company Limited. The workshop was attended by General Director Le Ngoc Son, Board of Directors member Bui Minh Tien, and leaders of the Group's professional departments.
"Big Leap" target.
The Group's development strategy to 2030, with a vision to 2050, identifies an ambitious goal: to include Petrovietnam in the Fortune Global 500 list by 2030 and become the leading National Industry - Energy Group in the region.
BCG believes that Petrovietnam's annual growth ambition of 10% is completely feasible if the Group makes the most of its domestic position and conducts strong internal transformation. In particular, inorganic growth through M&A is identified as an important lever, expected to contribute 3.1 - 4.6 billion USD to help Petrovietnam reach a revenue of over 37 billion USD and after-tax profit can reach nearly 3 billion USD by 2030.
Strategic spearhead.
To realize the breakthrough growth target, BCG proposes that Petrovietnam focus resources on 6 Strategic Opportunities in addition to natural growth, in line with the trend of energy transition and national energy security: Developing the LNG Value Chain; Pioneering the development of the Offshore Wind Power Ecosystem; Expanding International Exploitation and Production (E&P); Establishing professional international trade; restructuring infrastructure and preparing capacity for nuclear power.
8 foundational solutions (Enablers) to ensure implementation.
In parallel with growth opportunities, BCG emphasized the need for strong transformation on 8 foundational solutions, including: Restructuring the Operating Model; Policy mechanisms; Establishing a focused "Digital Factory"; Strengthening strategic M&A capacity; Establishing a focused Treasury; Technology and Innovation with a focus on Human Resources & Talent.
Concluding the workshop, Chairman of the Board of Directors Le Manh Hung highly appreciated the consulting opinions on the major strategic orientation proposed by BCG, especially the 6 strategic spearheads and 8 foundational solutions. At the same time, it is required to organize a Workshop on in-depth discussions, creating high consensus and unity throughout the Group system on vision and key solutions. The ultimate goal is to complete the Development Strategy and Strategy Implementation Plan in the fourth quarter of 2025 to quickly organize implementation.
