On the evening of December 3, in Ho Chi Minh City, the 18th Vietnam Listed Company Awards (VLCA) ceremony took place. PetroVietnam Drilling & Well Service Corporation (PV Drilling; stock code: PVD) was honored in the Top 20 Best Annual Reports - Non-financial Industry Group (ranked first) and the Top 8 Best Corporate Governance - Large Cap Group. Additionally, PV Drilling received a commemorative medal for its significant contributions to the HOSE and the Vietnamese stock market during the 2000-2025 period.
The event was held in conjunction with the Annual Listed Company Conference, attended by leaders from the Ministry of Finance and the State Securities Commission (SSC). Also in attendance were leaders from the HOSE and HNX Stock Exchanges, the Vietnam Securities Depository and Clearing Corporation (VSD), and representatives from over 300 listed companies, securities firms, fund management companies, and other financial institutions in the market.
2025 marks a proud milestone as the market rating agency FTSE Russell announced that the Vietnamese stock market has met all criteria and is officially upgraded from a Frontier Market to a Secondary Emerging Market. This transition opens doors for Vietnamese listed companies to attract high-quality foreign investment and strengthens Vietnam's position on the regional financial map. Simultaneously, the continued refinement of legal regulations supporting the market upgrade has created a more transparent and professional investment environment that aligns with international best practices.
Mr. Nguyen Ngoc Truong (fourth from right), Chief Accountant and Manager of the Finance - Accounting Department of the Corporation, received the commemorative medal on behalf of PV Drilling
A highlight of the 2025 VLCA was the Organizing Committee’s presentation of commemorative medals to honor organizations and individuals for their significant contributions to the HOSE and the Vietnamese stock market during the 2000-2025 period. PV Drilling was proud to be among the top listed companies recognized for these major contributions. The PVD stock has been listed on HOSE since 2006 and was once a prominent 'blue chip' on the Vietnamese stock market. Over nearly 19 years as a member of HOSE, PV Drilling has consistently strived to enhance the image and quality of Vietnam’s listed company community. This is evidenced by the Corporation's continuous improvements in governance quality, information transparency, and the adoption of international corporate governance practices. Furthermore, PV Drilling maintains strict compliance with local laws and cultures in every market where its rigs operate, demonstrating professionalism and affirming the position of a leading drilling contractor in the region.
Regarding the awards, after nearly six months of evaluation covering more than 500 listed companies on both the HOSE and HNX exchanges, the Selection Committee chose over 50 outstanding enterprises to honor across three categories: Annual Report, Corporate Governance, and Sustainability Report. Surpassing many major names, PV Drilling excelled by receiving awards in two categories: Top 8 Best Corporate Governance - Large Cap Group and Top 20 Best Annual Reports - Non-financial Industry Group (ranked first). Additionally, PV Drilling’s Sustainability Report successfully reached the final evaluation round.
Mr. Mai The Toan - Chairman of the Board of Directors of PV Drilling accepted the Top 8 Best Corporate Governance - Large Cap Group honor from Deputy Minister of Finance Nguyen Duc Chi
In the Corporate Governance category this year, the Organizing Committee applied a stricter set of evaluation criteria. Award-winning enterprises not only fully met the standards for transparency, efficiency, and sustainability but also demonstrated a leadership spirit by setting new benchmarks for the Vietnamese listed company community. Ranking in the Top 8 Best Corporate Governance - Large Cap Group is a testament to PV Drilling’s exceptional performance across all criteria: information transparency that exceeds regulatory standards; a highly professional and effective Board of Directors; an internal control and risk management system that operates with high efficiency; and the integration of ESG as a long-term strategy for sustainable development rather than merely a compliance requirement.
Ms. Tran Thu Hang - the Corporation’s Corporate Office Manager - accepted the Top 20 Best Annual Reports - Non-financial Industry Group on behalf of PV Drilling
In the Annual Report category, 2025 was considered a challenging year for listed companies as evaluation criteria were tightened, focusing more deeply on the connectivity between strategy, operations, and business results, as well as accountability and the quality of governance information. Despite these challenges, PV Drilling continued to excel across nearly all criteria groups.
Experts noted that PV Drilling has invested systematically in reporting systems that align with international practices, highlighted by three key strengths. First is governance transparency, through detailed disclosure of the activities of specialized committees, internal controls, risk management, and Board oversight evaluations. Second is the description of the business model through the value chain, helping investors clearly understand the origins of value addition, risks, and growth potential. Third is the increasingly comprehensive ESG disclosure, where PV Drilling is recognized for reporting environmental, social, and governance (ESG) metrics that closely align with ISSB and GRI standards.
In terms of format and structure, the Annual Report is presented scientifically and coherently. With comprehensive data and a robust accountability framework, PV Drilling’s report successfully convinced both the Preliminary and Final Selection Committees - where objectivity and accuracy are the highest priorities.
Being honored for several consecutive years in the Top 20 Best Annual Reports - Non-financial Industry Group (ranked first in both 2024 and 2025) and the Top 8 Best Corporate Governance - Large Cap Group has strongly solidified PV Drilling’s reputation as a listed company on the Vietnamese stock market. Furthermore, these awards add to PV Drilling’s long-standing track record of excellence in governance and transparency, serving as a 'seal of good governance' for investors and institutions - a crucial factor as Vietnam has just been reclassified as a 'Secondary Emerging Market'.
In summary, through its modern governance system, enhanced information transparency, and a strategic shift from 'compliance' to 'effective accountability,' PV Drilling is emerging as a benchmark for corporate governance within Vietnam’s listed company community. These results establish a vital foundation for PV Drilling to sharpen its competitive edge, bolster the trust of shareholders, investors, and international partners, and expand its market reach. Furthermore, it facilitates access to high-quality capital, supporting the Corporation's journey of ‘Reach to the Ocean – Sustain the Future'.
PV Drilling News