PVN representatives meeting organized

Overview of the meeting

Attendants included representatives of the Government Office, ministries and sectors. PVN General Director Nguyen Vu Truong Son, Dinh Van Son from PVN Member Council, and PVN Deputy General Director Le Minh Hong co-chaired the meeting.

Dinh Van Son presented a report on PVN’s contributions to other businesses. Accordingly, by the end of last year, PVN had invested a total of nearly VND189 trillion, equivalent to 43.03 percent of its total assets, in other businesses, an increase of VND769.48 billion compared with 2015; its provision for investment was more than VND5.17 trillion; and PVN received dividends totaling more than VND17.46 trillion in 2016, a rise of 69.74 percent compared with 2015.

Dinh Van Son attributed these results to efforts by its representatives at other businesses and highly appreciated their role in ensuring the effectiveness of PVN’s investment.

Representatives of PVN’s Organization and Personnel, Finance, and Accounting and Auditing Departments presented reports on the restructuring and management of the group’s representatives, management of its investment in other businesses, and assessments, inspections and supervision by state authorities and PVN. After that, PVN’s representatives at PV Oil, PV Gas, PV Drilling, PVEP, Vietsovpetro, PVCFC, PVFCCo, PVC, PV Power, BSR, PTSC, and PVI spoke about difficulties that they have encountered in the management of investment capital, personnel, salaries, wages and bonuses, as well as other policy-related problems.

In his closing speech, PVN General Director Nguyen Vu Truong Son said that in the coming time, the group will concentrate on streamlining its organizational structure and emphasized that its management officials must be appointed based on their real capabilities and in a transparent manner.

General Director Nguyen Vu Truong Son also spoke about the management of PVN’s representatives in the last seven months of 2017. Specifically, PVN will tighten management and supervision mechanisms to ensure that its representatives in other businesses fulfill their responsibilities. Stricter penalties will be imposed on those who fail to accomplish their assignments. All stages of personnel management will be implemented in a transparent manner. Training activities will be intensified to improve qualifications and skills for PVN’s representatives. At the same time, PVN will ensure stable incomes for its representatives. The group’s leadership will consult its departments to consider and approve its representatives’ proposals.