Fitch Ratings ranks PetroVietnam's Standalone Credit Profile at 'BB+'
Fitch Ratings has assessed the Vietnam Oil and Gas Group (PetroVietnam)'s Standalone Credit Profile (SCP) at 'BB+', reflecting the company's conservative financial profile, diversification and integration.
Hanoi (VNA) – Fitch Ratings has assessed the VietnamOil and Gas Group (PetroVietnam)'s Standalone Credit Profile (SCP) at 'BB+',reflecting the company's conservative financial profile, diversification andintegration.
Fitch Ratings affirmed the group’s Long-TermForeign-Currency Issuer Default Rating (IDR) at 'BB' with a Positive Outlook aswell as senior unsecured rating at 'BB'.
The agency expected PetroVietnam’s earnings before interest,taxes, depreciation, and amortization (EBITDA) to double in 2021 to over 45trillion VND (1.97 billion USD) from 2020 due to a recovery in crude oilprices, refining margins and distribution spreads.
It does not expect the current surge in COVID-19infections in Vietnam to significantly affect PetroVietnam's earnings recovery, asVietnam is a net importer of fuels, resulting in stable demand for thecompany's gas distribution, fertiliser and power segments.
In the first eight months of 2021, the group surpassed its productionand business targets, with crude oilexploitation exceeding the plan by 12.7 percent and the production of nitrogen,petrol and LPG surpassing the plan by between 2-11 percent./.
The Vietnam Oil and Gas Group (PetroVietnam) reported that its pre-tax profit in the first eight months of the year surpassed the set plan by 177 percent and tripled the figure for the same period last year, reaching 30.2 trillion VND (1.32 billion USD).
The PetroVietnam Exploration Production Corporation (PVEP), has surpassed all of its business goals, with the contribution to the State Budget 7 percent higher than the year’s plan.
The PetroVietnam Drilling and Well Services Corporation (PVD) will supply drilling service using the PV Drilling VI jackup rig to the Thang Long Joint Operating Company (JOC).
Despite impacts of COVID-19, the Vietnam Oil and Gas Group (Petrovietnam) fundamentally fulfilled its set targets in the first eight months of this year.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative photo. (Source: VNA) 
