With 40 years of development, PetroVietnam, which began as a joint venture between Vietnam and the former Soviet Union, has hugely expanded its operational scale and effective cooperation with other countries, the President said.
This has lived up to the expectation of late President Ho Chi Minh upon his arrival in Azerbaijan – then a developing oil and gas nation, over 50 years ago, he added.
The endless effort of the 50,000 officials and workers of the group has significantly contributed to the local economy, as well as other fields such as defence-security and diplomacy, he stressed.
He suggested the national group be fully aware of the opportunities and challenges in 2016 given the country’s deep-and-wide global integration, and that it should have proper strategies and solutions for rapid and sustainable development.
The State leader said he hopes PetroVietnam will become a firm pillar in the local economy, with the best management capacity and highest economic efficiency.
Leaders of the national group reported that PetroVietnam grossed VND560 trillion (US$25.2 billion) in revenues in 2015 despite global declining oil prices. Over the past five years, the group contributed over VND836 trillion (US$37.62 billion) to the State budget.