PVN - VRG cooperation: Connecting value chains, aiming for green growth

Continuing to realize the new mission and vision as the center of industry, services and the national energy pillar - contributing to sustainable development, technological innovation, ensuring energy security for Vietnam; with the leading role, creating cooperation, linking value chains between large enterprises, on May 22, 2025, the National Industry - Energy Group ( Petrovietnam - abbreviated as PVN) and the Vietnam Rubber Industry Group (VRG) signed a comprehensive cooperation agreement to promote the potential and strengths of the two state-owned economic groups in the fields of energy and rubber, opening up opportunities for sustainable and effective development.

Petrovietnam shifts model, focusing on three strategic production and business pillars: Energy, Industry and Services.

After 50 years of construction and development, Petrovietnam has successfully built a complete oil and gas value chain, becoming a key State economic group with a multi-sector, multi-field industrial, energy, and oil and gas ecosystem, operating effectively both domestically and internationally, playing a pioneering role in ensuring national energy security, sustainable development of the marine economy, proactively adapting to energy transition and deep international integration.

Realizing Conclusion No. 76-KL/TW dated April 24, 2024 of the Politburo , as well as in line with the energy transition trend, Petrovietnam proactively builds strategies and implements the transition to a new development model. At the same time, the Group determines to focus on developing on three strategic pillars: Energy - Industry - Services, with Energy as the core pillar.

The cooperation between Petrovietnam and VRG marks a strategic step forward in the cooperative relationship between two key national enterprises in the energy and rubber sectors.

In the new development phase, Petrovietnam aims to play a leading role in promoting the development of other sectors and fields of the economy through creating linkage chains and cooperation with leading corporations and companies in the country and region.

With its role and position as a leading enterprise in Vietnam in the fields of energy, industry and services, Petrovietnam has been implementing many comprehensive cooperations with corporations and enterprises such as Viettel, ACV, TKV, Vinachem... to strengthen connections, expand scale, increase production and business capacity, and optimize competitiveness.

Petrovietnam General Director Le Ngoc Son and VRG General Director Le Thanh Hung signed a comprehensive cooperation agreement between the two Groups.

The cooperation event between Petrovietnam and VRG is of great significance, marking a strategic step forward in the cooperative relationship between two key national enterprises in the energy and rubber sectors.

In the spirit of comprehensive cooperation, Petrovietnam and VRG will take advantage of the advantages of both sides in terms of facilities, human resources, products and services, enhance the development of energy production and supply projects, thereby creating great synergy value, contributing to improving competitiveness, optimizing resources and saving costs.

This is a step demonstrating Petrovietnam’s initiative in implementing the Group’s development strategy in the new period as well as in line with the Prime Minister’s direction on enhancing support and cooperation between economic groups. The comprehensive cooperation between Petrovietnam and VRG has demonstrated the great determination of the two Groups to act together for the goal of sustainable development, enhancing national competitiveness in the context of a strongly changing economy.

Chairman of Petrovietnam Board of Directors Le Manh Hung: "Cooperation between Petrovietnam and VRG not only realizes the Party and State's guidelines, but is also the intrinsic and objective need of both Groups."

Petrovietnam Chairman Le Manh Hung affirmed that the signing ceremony is a very meaningful occasion to establish a comprehensive strategic relationship between the two Groups. With the orientation of the Party and the State on developing a growing economy associated with autonomy, the head of Petrovietnam believes that when businesses join hands to cooperate in trade and technology, the overall capacity of both Groups will be enhanced.

This is not only the realization of the Party and State's guidelines, but also the intrinsic and objective needs of both sides, creating a comprehensive, substantive and sustainable cooperative relationship. The combination of Petrovietnam and VRG creates mutual support and complementarity, opening up many practical and long-term cooperation opportunities, thereby helping both Groups develop more strongly, contribute more to the economy, expand the Ecosystem and enhance national competitiveness.

VRG Chairman Tran Cong Kha pledged to devote the best resources to accompany Petrovietnam.

Affirming Petrovietnam's role as a leading enterprise in the State-owned enterprise sector, VRG Chairman Tran Cong Kha believes that the two Groups will be reliable strategic partners in the coming time, opening up many new development opportunities for Petrovietnam and VRG. VRG commits to devoting the best resources to accompany Petrovietnam for the good relationship between the two sides, creating a foundation to contribute more to the country's economic development.

The results achieved from the cooperation between the two sides will contribute to the implementation of national strategic goals on industrialization and modernization of the country, while contributing to green growth, developing a circular economy and ensuring energy security.

Vietnam National Energy Industry Group (Petrovietnam) was established in 1975 with the mission of contributing to ensuring national energy security and being an economic pillar in the construction and development of the country. After 50 years of establishment and development, Petrovietnam has made remarkable and comprehensive developments in both scale and depth, completing and synchronizing from the stage of oil and gas exploration and exploitation, to the gas industry, petrochemical refining, electricity and renewable energy, and high-quality oil and gas technical services.

In the new development phase, Petrovietnam proactively shifts its business model to suit the trend of energy conversion and sustainable development, focusing on three strategic production and business pillars: Energy, Industry and Services.

Vietnam Rubber Industry Group (VRG) is a large-scale agricultural economic group in Vietnam, playing a pioneering, core role and being the center of strategic planning for the development of Vietnam's rubber industry. In addition to the main industries of rubber exploitation, processing, consumption, etc., VRG also invests in industrial park infrastructure, develops high-tech agriculture, and produces renewable energy and electricity.

Ha An

Source: https://vtcnews.vn/pvn-vrg-hop-tac-ket-noi-chuoi-gia-tri-huong-toi-muc-tieu-tang-truong-xanh-ar944715.html