Prime Minister hosts leaders of foreign energy giants

At his meeting with the Japanese CEO, the Prime Minister commended Japanese enterprises—particularly Mitsui—for their contributions to Viet Nam's socio-economic development through technology transfer, export growth, job creation, and tax contributions. He welcomed Mitsui's long-term strategic investments in Viet Nam, especially its strong commitment to the rapidly progressing Block B gas-to-power project.

The Prime Minister said Viet Nam aims for double-digit growth in the coming years, which will require substantial energy resources. He urged Mitsui, with its long-term vision, to deepen cooperation with Vietnamese partners, accelerate progress on the Block B project, expand operations, and enhance efficiency in energy collaboration.

He also encouraged Mitsui to step up cooperation in fisheries, trade and exports; establish R&D centers in aquaculture and energy; promote technology transfer; support human-resource development; and strengthen links with institutions such as Ha Long University. He welcomed Mitsui's plan to promote exports of high-value, processed Vietnamese goods, aligning with Viet Nam's goal of improving growth quality and increasing technological content in exports.

Reaffirming the Government's commitment to protecting investors' legitimate interests, Pham promised to double efforts to improve the investment climate, reform administrative procedures, advance the national single-window mechanism, upgrade strategic infrastructure and develop a high-quality workforce. Viet Nam, he said, will continue creating favorable conditions for foreign investors, including Japanese firms, on the basis of harmonized benefits and shared risks. Ministries and sectors will accompany Mitsui, swiftly address difficulties, facilitate project implementation, expand supply chains and promote trade cooperation.

Hori Kenichi, for his part, updated the Prime Minister on the Block B gas project chain and praised the capacity of the Petrovietnam Technical Services Corporation (PTSC). He affirmed that Mitsui and its Vietnamese partners are working to accelerate all project components. He also outlined plans to expand investments in energy and carbon-reduction projects, as well as promote high-value Vietnamese exports, particularly in agriculture, aquaculture (notably shrimp), wood pellets, food processing and circular-economy initiatives. Mitsui also aims to enhance technology transfer, consulting cooperation, training and the development of scientific and technological human resources.

During his meeting with Zarubezhneft’s General Director Sergei Kudryashov, Prime Mnister Pham thanked Russia for its long-standing support for Viet Nam’s national independence and ongoing development. He said joint projects between Petrovietnam and Zarubezhneft not only produce economic benefits but also strengthen strategic trust, bolster energy security, support workforce development and enhance Viet Nam’s technological capacity.

He stressed that the Vietnamese Government consistently supports the Vietsovpetro and Rusvietpetro joint ventures, as reflected in multiple inter-governmental agreements facilitating their activities. He also affirmed support for Petrovietnam and Zarubezhneft to explore and expand investments based on efficiency, harmonised interests and full compliance with Vietnamese law. He urged both sides to maintain regular dialogue, improve joint-venture performance and promptly resolve arising issues in a constructive and mutually beneficial manner.

Kudryashov conveyed condolences to Viet Nam over recent storm and flood-related losses and reported on ongoing cooperation with Petrovietnam. He briefed about plans to expand oil and gas projects with Viet Nam, especially with Petrovietnam, while exploring opportunities in energy and minerals, including the establishment of an energy hub in Viet Nam.

The Prime Minister noted that Vietnamese ministries and agencies are reviewing proposals from Petrovietnam and Zarubezhneft to facilitate their expansion in both Viet Nam and Russia. He welcomed Zarubezhneft’s intention to participate in new oil, gas and energy projects beyond those under the Vietsovpetro framework. Highlighting that bilateral cooperation now spans the full oil and gas value chain—from exploration and extraction to processing—he affirmed that Viet Nam will continue offering the best possible conditions for Russian energy enterprises, including Zarubezhneft.

Pham expressed his confidence that oil and gas cooperation will continue to grow with strong government support and proactive business engagement, calling on both sides to actively implement signed agreements and maintain regular coordination mechanisms to resolve obstacles and accelerate joint projects.

He urged Zarubezhneft to expand Rusvietpetro’s operations in Russia by seeking larger licensed areas, acquiring new fields, and exploring adjacent blocks in the Nenets region to maximise existing infrastructure, technology and workforce advantages, while improving logistics and tax and fee conditions where needed. On the Vietnamese side, he called for Vietsovpetro to enhance efficiency, maintain appropriate production levels and actively pursue new potential blocks.

The Prime Minister  also called for stronger cooperation in LNG, including supply chains, port and storage infrastructure; technology transfer related to depleted-field extraction and deep or complex drilling; as well as joint development of renewable energy, hydrogen and new materials. He highlighted opportunities for cooperation in high-quality workforce training and encouraged both sides to explore investment and service partnerships in third countries./.