PetroVietnam’s State budget payment surpasses 2021 target

The Vietnam Oil and Gas Group (PetroVietnam) has surpassed important business and financial targets set for the first nine months of 2021, with its contribution to the State budget fulfiling the yearly plan.
PetroVietnam’s State budget payment surpasses 2021 target ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – The Vietnam Oil and Gas Group (PetroVietnam) hassurpassed important business and financial targets set for the first nine months of 2021, with its contribution to the State budget fulfiling the yearly plan.

Amidthe COVID-19 pandemic, PetroVietnam adopted a number of response measures,including forecasting, flexible management, and connecting links in the valuechain, which helped the firm maintain production and trade, as well as expand markets.

In the past nine months, its oil equivalent output reached 8.2 million tonnes,surpassing the target by 13 percent. Its total revenue also exceeded the plan by16 percent to 437.8 trillion VND (19 billion USD) while its contribution to the Statebudget hit 65.9 trillion VND, higher than the yearly target by 5 percent and up17 percent year-on-year.

PetroVietnamalso put the Su Tu Trang (White Lion) oil field into operation as scheduled,and ensured the progress of other fields such as BK-18A and BK-19.

As theSong Hau 1 and Thai Binh 2 thermal power plants are to be operational soon, thefirst turbine of the Song Hau 1 plant is expected to be put into commercialoperation in early November.

As ofSeptember 30, PetroVietnam donated 775.8 billion VND to the fight againstCOVID-19, including 554.9 billion VND to the national COVID-19 vaccinefund.

Duringthe nine-month period, the company saved over 2.2 trillion VND, or 80.9 percentof this year’s plan.

On September 9, the international credit rating agency Fitch Ratings assessedPetroVietnam’s standalone credit profile at BB . It also affirmed the group’sLong-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB' with a PositiveOutlook as well as senior unsecured rating at 'BB'.

PetroVietnamGeneral Director Le Manh Hung said in order to achieve the 2021 business andfinancial targets, PetroVietnam will continue flexibly adapting to the pandemicdevelopments, thereby seeking measures to grasp growth recoveryopportunities./.

VNA

See more

At the meeting between Minister of Agriculture and Rural Development Le Minh Hoan and visiting FAO Director-General Qu Dongyu. (Photo: VNA)

Vietnam, FAO join hands to boost South-South cooperation on agriculture

United Nations Food and Agriculture Organisation (FAO) Director-General Qu Dongyu's working trip to Vietnam from February 5-8 aims to promote bilateral cooperation in the fields of agriculture, food security, environmental protection, and rural development amid complicated and unpredictable global developments.

Deputy Prime Minister Ho Duc Phoc speaks at meeting of the Steering Committee for Price Management (Photo: VNA)

Deputy PM stresses importance of efficient price management in 2025

Deputy PM Ho Duc Phoc said with the GDP growth target for 2025 of at least 8%, the amount of money injected into the economy will be significantly higher than in 2024, and growth drivers will be stimulated, thereby impacting price indexes, especially consumer prices.

At the business registration office under the municipal Department of Planning and Investment (Photo: VNA)

Number of firms resuming operations in Hanoi surges 44%

New business registrations in Hanoi saw a 24.3% decline, with 2,045 new enterprises receiving certificates. The total registered capital for the new establishments dropped by 53.4% to 13.8 trillion VND (546.1 million USD).

A corner of VSIP Bac Ninh (Photo: VNA)

Bac Ninh wins growing investor confidence

With its potential and local authorities’ flexible and business-friendly policies, Bac Ninh is establishing itself as a magnet for both domestic and foreign investors.

Investors watch the market's movements at a trading office of a securities firm. (Photo: VNA)

Stock market gears up for a new era

The mission of the securities sector is to continuously develop infrastructure, improve service quality, attract international investors and mobilise medium- and long-term capital.

The Cai Mep - Thi Vai deep-water port complex in Ba Ria - Vung Tau province plays a pivotal role in attracting FDI capital to the southeastern region. (Photo: VNA)

Vietnam’s FDI inflow soars by 48.6% in January

The manufacturing and processing industry dominated foreign investment, attracting over 3.09 billion USD, equivalent to nearly 71.3% of total investment and showing a remarkable 99.1% increase year-on-year.

Vietnam's CPI in January 2025 expands by 3.63% year-on-year, while core inflation rose 3.07%. (Photo: VNA)

January CPI up 0.98%

Such factors as adjusted healthcare fees, and higher transportation costs and food prices led to a 0.98% rise in the Consumer Price Index (CPI) in January.

The cargo port in Qingdao, Shandong province, China, on January 13, 2025 (Photo: VNA)

Vietnam - China economic, trade cooperation flourishes

China - Vietnam's economic ties have flourished, with bilateral trade and investment growing rapidly. In 2024, trade reached 260.65 billion USD, up 13.5% from the previous year, while Vietnam is also an important destination for Chinese investors.