The September 8 workshop is jointly held by the Party Central Committee’s Economic Commission and the Vietnam Oil and Gas Group (Petrovietnam). (Photo: VietnamPlus) Hanoi (VNA) – Participants at a recent workshop in Hanoi raised proposals to ensure that the oil and gas sector catches up with current trends, helping it remove obstacles and set forth typical mechanisms and policies for rapid, sustainable development.
The September 8 workshop, jointly held by the Party Central Committee’s Economic Commission and the Vietnam Oil and Gas Group (Petrovietnam), reviewed the implementation of guidelines on Vietnam’s oil and gas development strategy in line with the Politburo’s Resolution No. 41-NQ/TW dated July 23, 2015.
In his remarks, Petrovietnam General Director Le Manh Hung stressed that it has always received special attention from the Party and the State, and grown into a leading economic group in Vietnam, making significant contributions to national socio-economic development.
After seven years implementing the resolution, it has basically fulfilled its assigned targets and tasks.
However, he said, apart from favourable conditions, there remain challenges relating to operation scope and area, mechanisms, policies, market, digital transformation, green transition, and the circular economy.
Such difficulties need a comprehensive review, and on that basis proposals on strategic adjustments in the sector will be raised to the Party and the State, Hung continued.
Nguyen Duc Hien, deputy head of the Economic Commission, presented a draft report on the implementation of the resolution, and urged Petrovietnam experts and managers as well as representatives from relevant ministries and agencies to opine on the communications work and outcomes of the implementation of major viewpoints and targets, among other matters.
He also suggested experts raise proposals on specific targets and orientations, especially those regarding the export market, infrastructure construction, the attraction and use of capital investment, scientific-technological development, innovation, high-quality personnel development, international cooperation, green growth, and sustainable development, with Petrovietnam playing a core role.
Participants also looked into the sector’s potential, how to approach to and new mindset on the national oil and gas development strategy in the new situation, and the perfection of relevant mechanisms, policies and laws by 2030 with a vision towards 2045.
They stressed the need to propose the Politburo soon issue a new resolution on strategic orientations for oil and gas development by 2030 with a vision towards 2045.
Petrovietnam said it will continue putting in place many concerted measures to achieve its growth targets in the last six months of this year.
The group and its subsidiaries will set forth management plans based on the country’s economic growth scenarios, while reviewing difficulties and limitations to take policies and mechanisms to address them.
Apart from stepping up investment, they will assess the digital transformation process, build a database, promote energy transition, materialise the sharing economy and circular economy models, and quickly implement the Government’s Decree No. 45/2023/ND-CP guiding the enforcement of the 2022 Petroleum Law and relevant regulations.
The group will strive to operate gas pipelines safely to ensure the supply for power plants, guarantee the readiness and availability of its plants to provide electricity for the economy at the fullest, expand the market and market shares, and diversify its products.
At the same time, it will further build a capital strategy, allocate capital to new sectors, settle debts, manage financial risks, and prepare for a restructuring project once it is approved, especially for businesses and projects in difficult conditions./.
