PetroVietnam Oil Corporation (PVOIL) organized the 2023 PVOIL Representative Conference in Ho Chi Minh City on October 12th, 2023, under the chairmanship and administration of Mr. Cao Hoai Duong, Secretary of the Party Committee, Chairman of the Board of Management of the Corporation, and PVOIL President & CEO Doan Van Nhuom, who is also Deputy Secretary of the Party Committee of the Corporation.
Members of the Board of Management, Board of General Directors, Board of Supervisors, Chief Accountant, Heads of Departments and Offices, Capital Management Representative of PVOIL, Representatives of the Corporation, and Heads of the Supervisory Board at PVOIL's subsidiaries attended the Conference.
The majority of the conference participants spent their time analyzing the actions of PVOIL Representatives at subsidiaries. As a result, PVOIL has assessed the entire investment activities of providing capital to other organizations as well as restructuring and rearranging operations for the 2020-2025 timeframe.
The management of the Corporation's Representative and the Corporation's investment capital management were also examined, as were the organization and monitoring activities of Representatives and subsidiaries.
The conference also assesses the Representative's compliance in the management and operation of subsidiaries, the Corporation system's general development orientation, and the actions of Representatives.
Furthermore, Conference participants heard critical information, such as the report on PVOIL's Representative holding the position of Head of the Supervisory Board at a member unit, the Corporation's 5-year production and business plan 2021-2025, and Development Strategy for 2023, vision to 2045.
PVOIL personnel at subsidiaries delivered presentations based on business approaches that have substantial experience value and may be utilized effectively in Corporation units.
The presentations include Promoting the provision and use of internal services throughout the PVOIL system; Coordination and market development in overlapping and bordering areas; Coordination between Representatives at member units; Restructuring, implementing the merger plan, stabilizing and developing the enterprise after the merger; Experience in adapting and overcoming difficulties to complete the goals and plans assigned by the Corporation; Building a system of processes and regulations for practical application; Building and organizing an internal control system and effective risk management at the unit.
Mr. Doan Van Nhuom, in his speech directing PVOIL's representative at subsidiaries, praised and deeply appreciated the successes that the Corporation and its subsidiaries have accomplished, which he is presently expressing through the role of PVOIL Representative at subsidiaries.
At the same time, he fully understood the tirelessly effective collaboration between PVOIL Representatives at subsidiaries, as well as the coordination, support, and usage of internal Corporation services among subsidiaries. The corporation's general development goals and plans must be based on the aims and benefits of each company.
Mr. Doan Van Nhuom urged, on behalf of the Corporation's Board of Management, that the PVOIL Representative in each position correctly perform the given responsibilities and tasks and foster a spirit of solidarity in order to promote the efficacy of PVOIL's management and administration across the system.
Mr. Cao Hoai Duong, Chairman of the Corporation's Board of Management, concluded the Conference by stating that PVOIL is a big-scale enterprise with a large number of associated focus locations and a diverse operating model.
However, the Corporation's Board of Management and Board of General Directors oversee the successful implementation of the system's direction and management.
This diagram depicts the roles and responsibilities of PVOIL Representatives at subsidiaries, who serve as an important link between the Corporation and its units in production and business activities in collaboration with PVOIL's partners, particularly in corporate restructuring in accordance with the Corporation's development plan.
Furthermore, Mr. Cao Hoai Duong highlighted various member units' weaknesses, limits in the utilization of internal services, and coordination between subsidiaries. He stressed the sense of camaraderie among PVOIL Representatives at subsidiaries.
The sense of solidarity, together with adherence to legislation governing the roles and tasks of the representatives, as well as sharing and supporting common aims and collective advantages, will optimize the role of each representative. It generates overall system synergy. PVOIL representatives at member units will then continue to execute assigned tasks, contributing significantly to the development of each unit and the Corporation.
Mr. Cao Hoai Duong, Chairman of the Board of Management of the Corporation, concludes the Conference
PVOIL President & CEO Doan Van Nhuom speaks at the Conference
Overview of the Conference