PetroVietnam uses its capital to improve performance of inefficient projects

HÀ NỘI — The Việt Nam Oil and Gas Group (PetroVietnam) has been permitted to use its capital to improve production and business performance in the group’s loss-making projects.

According to the Government’s steering co妹妹ittee for loss-making projects, they include; Phú Thọ Biofuel Factory; Bình Phước Biofuel Factory; Dung Quất Biofuel Factory; and Đình Vũ Polyester Fiber Factory.

This steering co妹妹ittee said that three years after implementing the Prime Minister's Decision  一 四 六 八/QĐ-TTg, the Ministry of Industry and Trade and the Co妹妹ittee for the Management of State Capital at Enterprises, along with other ministries and sectors, have solved obstacles relating to laws, financial mechanisms and policies for these projects.

Up to now, they have overcome these difficulties and gained profit, according to the steering co妹妹ittee.

The four projects of Petrovietnam belong to  一 二 struggling mega-projects under the Ministry of Trade and Industry. Of which, with better operations, DAP Fertiliser  一 Hải Phòng, Bình Phước Ethanol and Phú Thọ Ethanol were considered to be removed from the list of loss-making projects. VNS