In Vietnam, oil and gas giant joins hands with chemical juggernaut for semiconductor push
Vietnam Oil and Gas Group (Petrovietnam) and Vietnam National Chemical Group (Vinachem) on Tuesday signed a comprehensive strategic cooperation agreement to jointly explore research and investment opportunities in the semiconductor sector.
The partnership aims to follow the government’s directive to leverage the role of state-owned enterprises in leading technological advancement and green transformation across key industries.
Under the deal, Vinachem, with its strength in chemical technology, will team up with Petrovietnam, a financially robust enterprise with extensive project management experience, to establish a domestic supply chain for the semiconductor industry.
The collaboration is expected to lay the groundwork for Vietnam’s entry into the global semiconductor value chain.
Apart from the cooperation in the semiconductor industry, the two firms aim to develop hi-tech products for renewable energy, electronics, and automation sectors.
Also, they will plan to co-invest in key strategic projects, expanding their operational scale and enhancing competitiveness.
Petrovietnam chairman Le Manh Hung said that the partnership not only opens up new growth opportunities, but also boosts the strategic capabilities of both companies.
It is a significant step toward sustainable economic development, he stressed.
Both enterprises believed the collaboration would generate strong synergies, enhancing production efficiency, accelerating scientific research, and contributing long-term value to the nation’s industrial ecosystem.
Vinachem and Petrovietnam had previously cooperated in raw material supply and chemical and fertilizer production.
However, this new agreement marked a more comprehensive evolution in their relationship, aligning with a strategic vision to build a modern, integrated industrial ecosystem in Vietnam.
By Tieu Bac & Ngoc An – Tuoi Tre News – April 16, 2025