PV GAS appears in Top Most Creative and Business Efficient Enterprises in Vietnam 2024
On June 24, 2024, in Hanoi, the Investment Newspaper and Vietnam Business Research Joint Stock Company (Viet Research) announced the Top 50 and Top 10 Innovative, Creative, and Efficient Enterprises of 2024 (VIE50 and VIE10 respectively), as well as the Top 100 Innovative, Creative, and Efficient Products and Services of 2024 (POY). Notably, Petrovietnam Gas Corporation (PV GAS) was honored in the VIE50 and ranked second in the VIE10 within the Oil and Gas – Energy – Electricity sector, just behind its parent company, Vietnam Oil and Gas Group (Petrovietnam).
Along with Petrovietnam and PV GAS, many other Petrovietnam units were also glorified in the lists, including PTSC, PV Drilling, BSR, PVEP, PV Power, and PV Power NT2.
PV GAS ranked second in VIE10 within Oil and Gas – Energy – Electricity sector.
The organizers affirmed that the businesses honored at this event were those that had applied significant innovation, creativity, and modernization in their operating systems, product and service distribution, as well as management,. These efforts had helped to massively enhance production and business efficiency, thus strengthened their market positions, and contributing to the overall development of the country.
VIE10 Enterprises in Oil and Gas Energy Sector Survey Results
In the era of integration and sustainable development, with a strong trend towards energy transition, the oil and gas industry are entering a phase that demands breakthrough and decisive changes to meet the challenges posed by climate change. In light of this, enterprises in this field are required to implement frequent restructuring and innovations to meet the trend, not to mention digital transformation, as part of the journey towards green transformation.
Continuous research and development (R&D) are the backbones of innovation. It aids in discovering new materials, techniques, and technologies to revolutionize production and prepare for unforeseen future challenges. According to a survey by Viet Research, 75% of the VIE10 enterprises in the Oil and Gas Energy sector plan to increase their R&D and innovation budgets by 25-30%.
At the forum, experts acknowledged that the priority assigned to businesses was not only to innovate but to do so sustainably and effectively. A business innovation strategy would be a core element for the long-term success of any enterprise. It would enable VIE50 and VIE10 companies to stay ahead of their competitors, adapt to changing market conditions, and meet the growing demands of customers.