Development Strategies
Development Targets
Become a Vietnam’s leading energy group
Complete the business missions
Maintain and sustain its position as the largest Corporation in Vietnamese market
Improve business performance
Reform organization and business methodology
Successfully play the role of
the key enterprise
Invest in key and
effective projects
Development Strategies
New product
development strategy
Developing new product following the trend of clean and eco-friendly product, meeting both domestic and international standards.
Marketing and brand
development strategies
Petrolimex will choose to push strategy, using integrated marketing communication tools (IMC). Increase investment in promotional activities, communication and brand development. Innovate and apply IT to business performance progress to promptly fulfill and conform to the Industry 4.0 era.
SWOT analysis
The Board of Directors acknowledge that 2023 will be a difficult and challenging year for the Group. Therefore, Petrolimex should be aware of its strengths and weaknesses to create opportunities for development and overcome threats.
The Petrolimex brand is a well known petroleum supplier in both the domestic (nearly 50% market share) and international market with over 66 years of experience in trading petroleum. Owning the largest technical infrastructure among the petroleum key traders in Vietnam with the modern and synchronous level up to the regional standards. Petrolimex’s strategic partner is ENEOS Corporation – Number 1 energy Corporation of Japan with over 100 years of experience, always accompanying and assisting Petrolimex in corporate governance improvement.
Petroleum is the product under the State’s price stabilization initiative; thus the price is not fully determined by the market forces due to that State control petrol price to achieve other macro targets. Despite being adjusted in line with the fluctuation of the world, the degree of adjustment of domestic price may not correspond to that of the world’s, partially affecting the Group’s business.
The growth potential of the petroleum business is still promising in the near future, which is an opportunity for petroleum trading enterprises, including Vietnam National Petroleum Group, to increase their market share. Drastic encouragement and direction by the Board of General Directors for the process of digital transformation, application of advanced science and technology is a great source of motivation for the Group’s sustainable growth in the 4.0 era.
The ever more competitive environment due to the attractiveness of the market leads to many potential threats to petroleum enterprises. In 2023, the world economy continues to face major risks and challenges relating to the pandemic, the war and the global economic downturn. Therefore, finding the focus of resources for business activities that generate cash flows associated with value, stopping investing in investments that do not generate cash flow, and the right decisions of the Group’s leaders will be the key to stability and a premise for the Group’s future growth.