Chairman's letter

Dear valued shareholders, customers, and partners,
For Petrolimex, with the determination and efforts of the leaders and all employees, the Group achieved proud business outcomes in 2021.

2021 and results

The Covid-19 pandemic continued to cause the global impacts with new variants and complicated developments in 2021. As a result, the prospect of world economic recovery is difficult and slow. Vietnam is one of many countries suffering heavy effects from the pandemic when its economic growth reached 2.58% in 2021, the lowest rate in the recent 30 years. The pro-longed pandemic also interrupts production and business activities of many enterprises together with the slow recovery.

For Petrolimex, with the determination and efforts of the leaders and all employees, the Group achieved proud business outcomes in 2021. Total consolidated revenues reached 160,000 billion VND; consolidated profit before tax reached 3,820 billion VND; obligations to the State budget reached 33,826 billion VND, equal to 92% of the average plan of previous years. Besides, Petrolimex donated the Covid-19 fund appealed by the Government with a total value of nearly 300 billion VND. In 2021, Petrolimex continued to be recognized by the market for its corporate governance when receiving “Outstanding Progress in Corporate Governance Award” and “Sustainability Report Award” for the best listed companies, by HOSE.

A vision for 2022 and the coming years

In 2022 as well as in the coming years, besides the goal to complete the targets assigned by General Meeting of Shareholders, the other important goal of the Group is consolidating and optimizing inner strength and pervading added values not only for the society but also for the staff who are devoting to Petrolimex in conformity with the sustainability message of “Optimizing inner power - Spreading higher values” that the Group’s leaders has conveyed. To turn goals into reality, the Group’s Board of Management continues to direct and orient Board of General Directors and member units to balance financial benefit and human benefit, combining with market factors and modern corporate governance to enhance inner strength and competition of the Group. The Group continues to foster the application of digital technology into governance, focusing on training and improving qualification and labor productivity of employees; building a team of professional and high-quality staff in the whole Group. In addition, the Group continues to push corporate restructure, focusing on the sectors and products with high profit, accelerating research and development of new eco-friendly products, aiming to the goals towards 2030 with a vision to 2045 to become a green energy group with an effective and modern management system. This is also in line with the direction of the Government with the responsible and strong commitments of the Prime Minister at COP26 Summit. With the consistent orientation in long-term vision and development strategy, we believe that Petrolimex will keep its position as one of the biggest groups which play an important role in Vietnam’s economy, to be a dynamic enterprise aspiring to reach the standards of human values, technology values together with social standards, business ethics and professional corporate culture. On behalf of the Board of Management of the Group, I would like to express my sincerely thanks to the support and companionship of Petrolimex employees, shareholders, partners, customers and stakeholders during the past time and we hope to continue to receive your support and trust in the future.

ChairmanPham Van Thanh