On February 10, 2025, the Vietnam National Petroleum Group (Petrolimex / ticker symbol: PLX) signed a comprehensive cooperation agreement with the Vietnam National Chemical Group (Vinachem) and Vietnam Posts and Telecommunications Group (VNPT).

The comprehensive cooperation between three major corporations, leaders in key sectors of Vietnam, aims to leverage and maximize each other's strengths, promoting cross-business development of products and services. This partnership promises to bring numerous benefits to customers and contribute to the sustainable and robust development of the country's socio-economy. It also reaffirms their commitment to implementing the Government's directive on promoting the core, leading, and pioneering role of state-owned enterprises in the economy, while supporting the "Vietnamese People Prioritize Using Vietnamese Goods" campaign.

The signing of the Agreement is a prerequisite for the parties to implement and deploy uniformly and effectively throughout the entire system, from management levels to affiliated subsidiaries and branches, in accordance with each party's organizational model. Petrolimex, Vinachem, and VNPT commit to maintaining comprehensive, long-term, effective, and mutually beneficial cooperation based on compliance with the law in relevant areas of operation, aiming to become strategic partners in the process of operation and development.

According to the cooperation agreement, Petrolimex and Vinachem will collaborate in the following areas: Enhancing cross-use of products and services from both corporations; Promoting cooperative activities for product and service distribution across each other's systems and networks; and Synergizing strengths based on the capabilities, experience, and brand advantages of both corporations and their member units.

Petrolimex and Vinachem will closely coordinate to maximize market opportunities and participate in potential collaborative investment projects, aiming to optimize business efficiency.

Meanwhile, Petrolimex and VNPT will focus on cooperation in the following areas: Electronic payment services; and Infrastructure, connectivity services, and digital service solutions.

Petrolimex will collaborate with VNPT to: Research and implement the application of VNPT Money e-wallet payment solutions at Petrolimex's gas stations; Continue using the network connectivity infrastructure that VNPT has established and is currently providing to Petrolimex; Coordinate to review options for upgrading or replacing technology to meet operational needs, ensuring optimization and efficiency; and Consider, research, and propose the selection and implementation of IT solutions and digital platforms based on the needs and strengths of both parties.

Addressing the signing ceremony, Petrolimex chairman Pham Van Thanh emphasized: “This collaboration not only opens up new opportunities for our three corporations but also makes a significant contribution to the development of industry and the Vietnamese economy amid global integration. We are committed to working with Vinachem and VNPT to implement innovative initiatives and apply modern technology to develop advanced products and services that meet the increasing demands of our customers.”

On behalf of Vinachem, Chairman Phung Quang Hiep affirmed: “The strategic cooperation agreement between Vinachem, Petrolimex, and VNPT is a groundbreaking step, showcasing the pioneering role of our three corporations in connecting strengths, driving innovation, and leading the national industry. This collaboration is not just a simple partnership; it is a commitment to action to optimize resources, expand the product-service ecosystem, accelerate digital transformation, and enhance competitiveness in both domestic and international markets. We believe that, with determination and strategic vision, this cooperation will create sustainable value, promote strong growth, and contribute to shaping the future of Vietnamese industry.”

VNPT general director Huynh Quang Liem shared: “The signing of the strategic cooperation between our corporations today is an important step to leverage and promote the strengths of each party in their respective fields of operation towards a common goal of development. With its wealth of experience and existing resources, VNPT is committed to partnering with Petrolimex and Vinachem to successfully implement digital transformation projects in the near future, create differentiated products, and bring practical benefits to our customers.”

The leaders of Petrolimex, Vinachem, and VNPT shared a common vision for strategic cooperation and the development of an increasingly deep and comprehensive relationship. This partnership opens up new opportunities for all parties and contributes to promoting the development of Vietnamese industry in the process of international integration.

About Petrolimex

The Vietnam National Petroleum Group (Petrolimex) is a leading economic entity in the domestic petroleum market, with a distribution network of over 5,000 petrol stations, accounting for approximately 50% of the market share and holding 70% of the total national reserves. Petrolimex owns the largest system of depots, tanks, petroleum pipelines, supply chains, and logistics in the country.

In addition to its core petroleum business, Petrolimex operates effectively in various sectors including insurance, petrochemicals, gas, petroleum transportation, aviation fuel, design, construction, mechanical engineering, petroleum equipment, as well as information technology and telecommunications.

About Vinachem

The Vietnam National Chemical Group (Vinachem) is a leading economic entity in Vietnam’s chemical industrial production sector. Its main business lines include the production and trading of fertilizers and pesticides, mining and processing of minerals for raw materials used in fertilizer and chemical production, the rubber processing industry, and the production and trading of basic chemicals, consumer chemicals, pharmaceuticals, petrochemicals, and electrochemicals (including the production of batteries and accumulators), contributing to ensuring some major balances in the national economy, ensuring the national food security strategy.

About VNPT

The Vietnam Posts and Telecommunications Group (VNPT) is a group that provides Telecommunications - Information Technology - Communications and Digital Services, owning a modern and extensive telecommunications network infrastructure, directly connected to more than 240 countries and regional economic and financial centers worldwide. VNPT is also the only unit in Vietnam that owns a satellite information network, meeting the highest requirements for national information security as well as the diverse service needs of customers.