Petrovietnam and Vinachem sign a comprehensive cooperation agreement. — Photo courtesy of Petrovietnam

HÀ NỘI — The Vietnam National Industry - Energy Group (Petrovietnam) and the Vietnam National Chemical Group (Vinachem) have signed a comprehensive strategic cooperation agreement to leverage each other’s strengths in technological development and modern industrial growth.

The agreement focuses on collaboration in research, training, innovation, transforming green production and the development of products serving the semiconductor, new energy, electronics and automation industries.

Both parties also agreed to expand investment and capital contributions in strategic projects, particularly in specialised materials, chemical products and high-tech components.

As two core state-owned economic groups, Petrovietnam and Vinachem play a central role in the national economy. This partnership is expected to maximise their financial, technological and project management capacities while contributing to the development of a modern industrial ecosystem, enhancing domestic production capabilities and increasing Việt Nam’s integration into global value chains.

In the context of the Fourth Industrial Revolution and global supply chain restructuring, the two groups view technological innovation as the key to sustainable development. Their joint development of high-tech products aims not only to meet domestic demand but also to expand into export markets, positioning Việt Nam more prominently in global industrial value chains.

Leaders of both groups confirmed that the agreement is a strategic step to materialise the Government’s policy on state-owned enterprise cooperation. With a clear agenda and a practical implementation roadmap, both sides committed to accompanying the Government in the national industrialisation and modernisation process. — VNS