PetroVietnam General Service Joint Stock Corporation (Petrosetco) pursues a business direction of bold thinking, responsibility, dynamism and creativity to seize opportunities of promoting production and business development. Its business motto, “Always with Passion,” is a commitment and determination to achieve solid progress toward becoming a professional service provider with sustainable development.
Efforts for robust growth
After 15 years of construction and development, Petrosetco has substantiated its strong position in general service with rapid growth and sustainable development. The corporation is currently involved in three major business fields: Trading and distribution (distribution of telecommunication equipment, equipment and material supply service for oil and gas industry, distribution of polypropylene plastic particle, fibres and LPG, and trading in agricultural products and fertilisers), oil and gas service (catering, transportation, logistics services), and real estate (real estate management, operation and investment and trading).
Mr Phung Tuan Ha, General Director of Petrosetco, said: With all the heart of professional service providers, the entire staff of Petrosetco has spared no effort to improve service quality to meet increasingly diverse and demanding customer requirements. The clearest testament to the efforts of Petrosetco is the rapid and sustainable growth in revenue and profits in recent years. Specifically, in 2010, its revenues topped VND10,001 billion and pre-tax profit reached VND250 billion. Return on equity (ROE) increases constantly year on year, with 17.6 percent in 2008, 23 percent in 2009 and 31.83 percent in 2010. With the remarkable growth in revenue and profit over the years, Petrosetco is currently ranked 67th on the list of the 500 largest enterprises in Vietnam, and 23rd in the Top 50 brands of Vietnam Star Award. The corporation also won a lot of awards for outstanding operations in 2009 and 2010.
Effective and sustainable development
Determined to become a leading multi-business corporation with effective and sustained development, in the period from 2010 to 2015, Petrosetco will strive to rake in VND10,490 billion of revenues in 2015, representing average annual growth of 15 percent, and keep average earnings growth of 17 percent.
Petrosetco will also flexibly restructure its business and services in a bid to raise the proportion of oil and gas services to 50 percent of revenues in 2015. Besides, Petrosetco will maintain its professional structure of production and business operations and build a strong brand in the oil and gas service sector. The corporation will endeavour to maintain its current market share of key services and expand the market share for new services. It will provide inputs for oil and gas-related companies like ethanol plants.
In its development strategies, Petrosetco has always striven to become a sustainable business and build itself into a strong, prestigious and professional icon in oil and gas, commercial and distribution services and bio-fuel production, in order to offer best products for customers. On that basis, Petrosetco is building a dynamic, creative, united collective to advance its constant innovation to head for success.
Taking on the professional and modern image of a service provider while expressing the power of a PetroVietnam member unit, the logo of Petrosetco harmoniously combines traditional elements and new trends to create a new but familiar image. Changes in new brand identity, with the slogan, “Always with Passion,” are the commitment and determination of Petrosetco to continue its solid progress towards the goal of becoming a professional service provider with sustainable development.
Ngoc Quyen
Vietnamese
