Workshop on parent company guarantee at Gallaf Project 1 – Success from practical lessons

On June 20, 2025, at the Petroleum Hotel - Vung Tau, PTSC Corporation successfully organized a workshop to summarize the implementation of parent company guarantees at the Gallaf 1 Project and lessons learned. The workshop gathered all levels of management including the Board of Directors (BOD), the Board of General Directors, leaders of functional departments, leaders of member units, affiliated units and professional staff in the Guarantee Council of the Corporation. In his opening speech, Mr. Tran Hoai Nam - Deputy General Director of the Corporation - emphasized the importance of parent company guarantees (Parent Company Guarantee - PCG) in the context of expanding operations to the international market, especially the Middle East market with complex legal requirements and risks. The Gallaf 1 Project is PTSC's first "test" in this region and is also the first project to apply the comprehensive PCG mechanism.

At the workshop, delegates reviewed the entire guarantee implementation process from internal regulations to specific implementation at the Gallaf 1 Project - from the perspective of risk management, legal, financial and construction practices. Many valuable presentations from specialized departments such as the Commercial Department, Legal Department, Finance and Accounting Department and PTSC M&C - the unit directly implementing the project - highlighted specific situations, handling plans and profound lessons learned from the Project to update and upgrade into the revised regulations to better serve production and business activities in the context of increasingly greater requirements of PCG work in the coming time.

Speaking at the workshop, Mr. Tran Ho Bac - General Director of the Corporation affirmed: "The workshop has fulfilled its set objectives, is a quality forum to draw practical lessons, strengthen the guarantee control system, contribute to improving competitiveness and minimizing risks for the Corporation". The workshop ended in a serious, professional and open atmosphere, opening up the premise for PTSC Corporation to continue to perfect the guarantee management framework, firmly preparing for the next strategic projects at home and abroad.

Le Tuan Vinh

Source: https://www.ptsc.com.vn/tin-tuc/tin-ptsc-1/san-xuat-kinh-doanh/hoi-thao-ve-bao-lanh-cong-ty-me-tai-du-an-gallaf-1--thanh-cong-tu-nhung-bai-hoc-thuc-tien