PV Oil Vung Ang: Harmonising the Interests of Company and Customers

In late 2010, Vung Ang Petroleum Joint Stock Company (PV Oil Vung Ang) officially went into operation in the face of global economic crisis and domestic economic slowdown. “Hardships and challenges are also the source of motivation for us to complete our tasks,” said Director Nguyen Trung Kien.

 

After two years of operation, the company has nine affiliated business units, more than 100 agents and general agents, and 103 employees. The firm always fulfils all statutory employment policies.

 

As a petroleum distributor, PV Oil Vung Ang always performs its tasks effectively. However, its operations are significantly affected by State price-regulating policies. The firm is trying its best to bring most benefits for customers.

 

In 2011, the company fetched more than VND2,000 billion of revenues, paid VND100 billion to the State Budget, and made a profit of VND38 billion, beating its plans.

 

The success is the result of the efforts of all members and guidance from parent company, PV Oil. The company is also enjoying tax relief (full exemption in the first three years and 50 percent rebate in the next five years), and applying appropriate agent management regime to bring most benefits to consumers and agents.

 

The company’s current major markets are Nghe An, Ha Tinh, Quang Binh and Laos. It is committed to providing sufficient quantity and guaranteed quality of products for customers and agents.

 

Its ultimate objective is to harmonise interests of the company, customers and agents. This is the foundation, norm and motivation for the upcoming development of Vung Ang Petroleum Joint Stock Company.