SUSTAINABILITY REPORT 2022
Sharing Resposibility Steady Position
The global economy was going through a year of major challenges in 2022, geopolitical conflict between Russia-Ukraine, prolonged inflation and known as a peak in decades led to tight monetary policies of many countries. The energy crisis in general and petroleum crisis in particular have become so intense which was completely different compared to previous crises.
Pham Van Thanh Chairman
Contribution to the state budget
VND
2021: 33,826 billion VND
Social security benefits
of parent company
VND
2021: 340 billion VND
Guarantee jobs and incomes for*
2021: 18,623 employees
Training expense*
VND
2021: 21,402 million VND
Average income 2022 of companies*
VND
3.06 times as high as of the minimum regional income
(*Based on the statistics of petroleum member unit)
Important principles of code
of conduct including
Relationship with
environment
Relationship with environment
Petrolimex upholds responsibility for ensuring environmental safety in all business and production activities.
Petrolimex pioneers promoting environmentally friendly products.
Relationship with
authority and laws
Relationship with authority and law
Comply with all regulations of the laws related to Petrolimex’s activities.
Relationship with
consumers
Relationship with consumers
Petrolimex, by its enthusiasm, responsibility, optimism and trust, commits to making ceaseless efforts to go further up its development path and bringing the lives of Vietnamese people to a new height in the future as they wish.
- Commit to providing the highest standard products and services while ensuring appropriate prices for a majority of consumers.
- Take care of consumers in a timely, polite, fair and reasonable manner to build and maintain customer trust.
- Respect privacy and commit to protecting customers’ personal information.
Relationship with
Shareholders
Relationship width Shareholders
Petrolimex commits to serving the highest interests of shareholders and enhance the value of shares.
- Promote corporate governance scientifically to protect the value of shares.
- Recognize and place an importance on shareholders’ rights, including both minority and foreign shareholders.
- Ensure equal and appropriate treatment with each shareholder by accurate, transparent and timely information disclosure. Petrolimex always attaches great importance to completeness of information disclosure for shareholders to make informed decisions at meetings of shareholders, including voting and expressing opinions on significant changes and electing members of BOD based on accurate, complete and transparent information and ensuring everyone is on the same page for information sharing.
- Always inform business activities information with shareholders.
- Build and fulfill a fair and consistent dividend policy.
- Transactions with stakeholders are approved and conducted by ensuring proper management of conflicts of interests and protection of interests of Petrolimex and shareholders.
Relationship with
society
Relationship with society
Commit to contributing to the development of Vietnam and community through social security activities in localities where Petrolimex is operating.
- Actively participate in social security programs to promote growth and welfare of local communities such as building houses for the poor and disabled and those with extremely difficult circumstances; education and health funding, etc. One of Petrolimex’s focuses is to educate younger generations by education funding activities, inventions, sports and other youth activities across Vietnam with a desire of nurturing a spirit of emulation for the younger generations, etc.
- Fight against labor exploitation and inhumane treatment with laborers under all forms.
Relationship with
partners and suppliers
Relationship with partners and suppliers
Always make efforts to maintain Petrolimex as a reliable and enthusiastic image in the mind of partners.
- Promote equality, responsibility and integrity in all transactions with partners and suppliers, ensure compliance with business ethics to build long-term and sustainable relationships.
- Giving or receiving gifts, money or other benefits are not accepted as it can have impacts on business decisions and interests of Petrolimex.
- Respect trade secrets and confidential information of company and other entities.
Internal principles
Internal principles
Ethical employee behavior in the workplace: based on trust, enthusiasm, spirit of responsibility and optimism.
- Strive for a successful working relationship by fulfilling individual responsibilities and providing necessary support at all levels for everyone to excellently fulfill their jobs. No individual nor department should put their priority above the priority of the company.
- Engage in open communication with sincerity and equality to stimulate creative thinking and innovation.
- Consider Petrolimex’s employees as valuable intangible assets which are reflected in the workplace through programs of building and rewarding individual and group performance.
Relationship between Employees and Petrolimex:
foster integrity, sincerity and responsibility in all circumstances.
- Each individual strictly complies with Petrolimex’s policies while promoting max efforts to enhance business performance and promote Petrolimex’s image.
- Avoid conflicts of interests of individuals with that of the company in all situations such as investment in places that have direct contacts with private interests outside of Petrolimex which can have an impact on the private business decision; working for competitors and Petrolimex at the same time, etc.
- Protect trade secrets, internal data and other proprietary information of Petrolimex (even when not working at Petrolimex) till information disclosure is not confidential.
- Strictly comply with Petrolimex’s policies in responding to media requests.
- Files should be stored in a well-ordered manner, complete and accurate reporting.
- Protect the tangible assets of Petrolimex.
- Promote responsible use of information technology resources.
Since joining the Group, each employee is informed and committed to complying with Code of Labor, Code of Conduct, anti-corruption policy and other internal regulations of Petrolimex
To make it convenient for shareholders, domestic and foreign investors and other stakeholders to search & capture information, corporate culture and Code of Conduct is published on the website of The Group in a specific and detailed manner: www.petrolimex.com.vn.
We, at Petrolimex, promote transparency and encourage employees to speak up signs of violations or potential violations of code of conduct to create a safe working environment where all feel respected and heard. Order, procedures for handling behaviors or signs of ethical violations are specified at Labor Principles.
Fraud and corruption prevention is one of the top priorities of Petrolimex to ensure legitimate benefits and maintain a transparent, fair and healthy competitive business environment for partners, suppliers and customers; Bringing the best interests of stakeholders. In addition, establishment of the Steering Committee on Anti-Corruption led by Chairman of BOD is a step forward to promoting anti-corruption prevention and fighting at Petrolimex and other member units.
In 2022, no sign or report of corruption case was found related to personnel, employees in terms of violation of code of conduct and professional ethics.
