News & Events

News & Events

PV Drilling pioneers and commits to enhancing Corporate Governance

Petrovietnam Drilling & Well Service Corporation (PV Drilling, stock code: PVD) is honored to be recognized as a Pioneering Enterprise committed to enhancing corporate governance in Vietnam – VNCG50 at the Annual Forum on Corporate Governance – AF7 on December 5, 2024. 

The 7th Annual Forum on Corporate Governance (AF7) with the theme “Investing in Corporate Governance: A Strategy to Attract Responsible Investors in the Market Globalization” is the most prestigious professional event in Vietnam on corporate governance integrated with ESG and sustainable development, organized by the Vietnam Institute of Directors (VIOD) in collaboration with the International Finance Corporation (IFC), the Swiss State Secretariat for Economic Affairs (SECO), and the State Securities Commission (SSC). The forum also receives professional support from the Ho Chi Minh City Stock Exchange (HOSE) and the Hanoi Stock Exchange (HNX). 


Image of the Forum

At the Forum, VIOD also announced for the first time the debut of the VNCG50 Corporate Governance Scorecard, comprising of 110 questions related to the rights and equitable treatment among shareholders, sustainable development, information disclosure and transparency, and the board of directors’ responsibilities with transparent evaluation criteria, fair rewards/penalties. This is considered the a tool to assess the quality of corporate governance of listed companies in Vietnam, developed based on the evaluation criteria of the ASEAN Corporate Governance Scorecard (ACGS) combined with governance practices in Vietnam, and evaluated by a Council chaired by the Vietnam Exchange (VNX), with members consisting of experts from HOSE and HNX, representatives of funds, securities companies, and independent experts.

Chairman of the Board of Directors Mai The Toan (left), President and CEO Nguyen Xuan Cuong (right), and Chairperson of VIOD Ha Thu Thanh (center)

Since its establishment, PV Drilling has always prioritized sustainable development combined with ESG practices, considering it a guiding principle in all its operations. By applying advanced corporate governance systems that meet international standards, PV Drilling not only provides high-quality well services but also contributes to minimizing environmental impact, aiming for a greener future. Additionally, PV Drilling has maintained transparency and accountability in its information disclosure since its listing on the HOSE in 2006, ensuring that shareholders and investors are always fully updated. The company's consistent high rankings in the Corporate Governance and Annual Report categories of the VLCA (Vietnam Listed Company Awards) over the years is concrete evidence of its adherence to and enhancement of corporate governance practices according to best practices for sustainable development.


Vice President Do Danh Rang accepting the Pioneering Enterprise committed to enhancing corporate governance in Vietnam – VNCG50 on behalf of the company

In July 2024, during a review of over 500 listed companies on their practices of English-language Disclosure of Governance and Annual Reports, PV Drilling was honored to be selected by the Evaluation Board as one of the top 42 pioneering enterprises committed to enhancing corporate governance in Vietnam – VNCG50. This is a positive result of PV Drilling’s continuous improvement efforts and excellent governance practices, not only affirming the company’s commitment to international standards but also enhancing its brand reputation, building trust with shareholders and partners, as well as motivating PV Drilling to continue innovating, improve its service quality and sustainable development, and contribute to the upgrading of the Vietnamese market on the international scene. 

PV Drilling's PR Team.

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