PV GAS successfully organizes a financial conference of "Assessment of influence caused by exchange and interest rates fluctuations on PV GAS"
PV GAS On October 31 successfully organized a financial conference of “Assessment of influence caused by exchange and interest rates fluctuations on PV GAS" in Ho Chi Minh City. PV GAS invited the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) to attend and give opinions on risk management solutions to confront interest rate and exchange rate fluctuations to enterprises like PV GAS.
At the conference, Mrs. Phan Thi Phuong Anh - Head of Finance Department at PVGAS shared the snapshot of its finances (PV GAS annual revenue is nearly USD4 billion, its profit reaches $500 million with a long-term loan balance of nearly $500 million). Amid world economic developments in the first half of 2022, many fluctuations drove the surge of prices and global inflation, forcing countries including Vietnam to accelerate contractionary fiscal and monetary policies and the increase of interest rates and exchange rates to control inflation. Oil and gas enterprises whose main business activities are associated with exchange rates and interest rates like PV GAS will be affected almost immediately. Therefore, it is necessary to understand and assess the influence of interest rates and exchange rates, in line with the scale of PV GAS.
At the conference, Dr. Can Van Luc - Chief Economist and Head of BIDV Training and Research Institute- shared information on macroeconomics, inflation, interest rates and exchange rates; recognized that the problems faced by PV GAS were common concerns of business community and may last longer. Dr. Can Van Luc also emphasized good endurance in the current difficult period at large-scale enterprises such as PV GAS to be favorable conditions for a faster recovery when the economy becomes stable.
Concluding the conference, Mr. Pham Dang Nam - Deputy General Director of PV GAS emphasized that it was very important to monitor, assess and manage the risks of interest rates and exchange rates fluctuations- volatilities that directly affect PV GAS trade, especially amid PV GAS currently establishing joint ventures with large foreign corporations to invest in large key projects that require a professionally trained financial team, the appropriate attention of the units at PV GAS and the coordination from banks such as BIDV to develop quality and timely capital arrangement solutions.