Globalising PVFI Trademark

 

PetroVietnam Trade Union Finance Investment Joint Stock Company (PVFI) started official operations in June 2007 with an initial registered capital of VND300 billion, two branches in Ho Chi Minh City and Sa Pa City, Lao Cai province, and a workforce of 95 staff. After three years of operation, in spite of difficulties from the global financial crisis and inflationary impacts, PVFI has still managed to achieve outstanding accomplishments. Specifically, its revenues increased from VND13.8 billion in 2007 to VND248.4 billion in 2009. Profit jumped from VND6.9 billion in 2007 to VND16.5 billion in 2009. Dividend payout was five % in 2009

 

With its achievements, PVFI is always hailed by the Vietnam National Oil and Gas Group (PetroVietnam) and awarded many noble titles like the excellent performer in the “Study and work in the light of President Ho Chi Minh’s conducts” campaign, “strong pure party unit” titles in 2007 and 2008, the excellent performer in working and trade union construction” campaign, the “excellent working collective” title in 2009. The General Director of the Company was named the “outstanding PetroVietnam manager” title in 2009. These merits inspire the company to step forward.

PVFI functions as a financial vehicle to implement employment policy of the Vietnam National Oil and Gas Group, represents the Group’s employees to manage assets in invested companies and projects. Besides, PVFI functions as an investment trust, invests in other companies and provides financial and consulting services, etc under the law. To date, PVFI has been assigned by the Group to represent nearly 80,000 employees. PVFI has done its work very well and won the absolute trust of officials and employees of the Group.

 

As regards the investment field, PVFI has gradually completed its key projects. Particularly, the company contributed capital to build offices for rent at 4 Lieu Giai Street, Ba Dinh District, Hanoi, and completed the 3-star North Star Hotel in Sa Pa City, Lao Cai province to serve employees and foreign tourists.

 

Moreover, PVFI is accelerating preparatory works for the commencement of an apartment - office

complex at 168 Ngoc Khanh Street, Ba Dinh District, Hanoi. Also in 2009, PVFI contributed capital to set up Tri Viet Education Joint Stock Company. This is the first world-class school with training programs meeting all requirements and standards provided by the Ministry of Education and Training of Vietnam as well as accessing international standards to provide perfect learning environments and knowledge of foreign languages, studying skills and existence skills for students. Students at the school can follow higher classes at international schools in Vietnam or in other nations.

 

With respect to financial service field, immediately after its inception, PVFI joined hands with SME Securities Joint Stock Company to set up PVFI - SME stock exchange and provide a number of services for customers.

 

There are many elements for the success of PVFI. The first and foremost element is the human factor. As a newly established entity, PVFI can attract young, enthusiastic, professional and qualified staffs. The solidarity and unanimity of all leaders and staffs also play pivotal roles. In the guideline of “PVFI is a common house”, the company has successfully inspired its staffs. In addition, the leadership of the Party is also very important.

 

PVFI always receives praise from the Vietnam National Oil and Gas Group and has won many noble titles.

The growth of PVFI is associated with the growth of the Group and with the general socioeconomic development of the nation in the process of industrialisation and modernisation. Our success in the past years is the clearest evidence for the unity of the oil industry in general and PVFI in particular for the development of the oil industry as well as Vietnam.

PVFI presents the Group’s employees to seek solutions and resources from oil and gas units to solve matters related to the needs and interests of employees. It also builds and develops a powerful PVFI to ensure the benefit of shareholders and the community in the principle of “acceleration - efficiency - sustainability”.

With our strengths and internal resources, we will strive to build PVFI into a leading financial investment company in Vietnam and the world in the coming years. We will complete the Group’s policies with the best results. We will strive to achieve an average annual growth rate of at least 20 %. In the coming time, PVFI will focus on mobilising unemployed capital to deploy a number of projects like houses and schools to serve the Group’s staffs.