The Party Central Committee’s Economic Commission, the Ministry of Industry and Trade (MoIT), and the Vietnam Oil and Gas Group (Petrovietnam) recently held a joint conference to discuss the implementation of Conclusion No. 76-KL/TW on developing Vietnam’s oil and gas sector until 2025 with a vision to 2030. The conference highlighted the importance of the oil and gas industry in the country’s economic development and emphasized the need for sustainable growth in the sector.
Deputy Prime Minister Tran Luu Quang opened the event by emphasizing the special attention given by the Party and State to the oil and gas sector. He highlighted the significance of Conclusion No. 76-KL/TW in providing guidelines for the development of the Vietnamese oil and gas industry, creating new momentum, and opening up new development opportunities for the sector.
During the conference, Deputy head of the Party Central Committee’s Economic Commission Nguyen Duc Hien presented the major contents of the conclusion, along with orientations, tasks, and solutions for its implementation. He stressed the importance of completing institutions, policies, and legal regulations to create favorable conditions for the oil and gas industry in the new period.
The Ministry of Industry and Trade also presented a plan to realize Conclusion No. 76-KL/TW and Resolution No. 38/NQ-CP of the Government, linking them to the implementation of Party resolutions, strategies, and socio-economic development plans. Le Manh Hung, Chairman of the Board of Members of Petrovietnam, discussed the impacts of the world and regional environment, as well as the challenges facing the company.
The conference concluded with Deputy Prime Minister Quang highlighting the contributions of the oil and gas sector to the country’s socio-economic development. He emphasized the role of the industry in the country’s industrialization and modernization efforts. Quang stressed the importance of focusing on promoting the sector’s potential and advantages to develop renewable energy and new energy resources, ensuring sustainable and modern development associated with green and digital transformation.
In addition, Quang called on central and local Party Committees, as well as the Party Organizations of State-owned energy enterprises, to thoroughly study and implement Resolution No. 41-NQ/TW, Conclusion No. 76-KL/TW of the Politburo, and Resolution No. 38/NQ-CP of the Government, while continuing to build programs and plans for their effective implementation.
In another development, Prime Minister Pham Minh Chinh recently issued a directive to stimulate domestic consumption, production, and market development. The directive emphasizes the need to address challenges in production and business operations, boost consumer demand, and accelerate domestic market development to promote growth, maintain macroeconomic stability, control inflation, and ensure major economic balances.
The Ministry of Finance, the State Bank of Vietnam, and other relevant ministries and agencies have been tasked with implementing key tasks and solutions to support domestic businesses, enhance investment projects, and promote domestic trade. Efforts will be intensified to connect supply and demand, provide market information, and offer legal advice to small- and medium-sized enterprises.
Overall, the recent developments in the oil and gas sector, as well as the government’s initiatives to stimulate domestic consumption and production, reflect the ongoing efforts to promote economic growth and ensure sustainable development in Vietnam. By focusing on key sectors and implementing strategic policies, the country aims to strengthen its position in the global market and drive innovation and competitiveness in various industries.