PetroVietnam asked to strive for annual growth of 20% in 2025

Prime Minister Pham Minh Chinh has instructed the Vietnam Oil and Gas Group (PetroVietnam) to strive to achieve annual growth rates of 15-20% by 2025 while addressing the firm's year-end review conference in Hanoi on December 28.

PetroVietnam should contribute to the national GDP growth rate of 8% that year, the PM said.

The group should renew administration and build a restructuring plan in line with the development orientation for the oil and gas sector of Vietnam, he said.

PM Chinh asked PetroVietnam to continue coordinating with relevant ministries and agencies to build and complete related policies and mechanisms, including policies to enhance cooperation between domestic and global enterprises to attract investment, technology transfer and human resources training.