Abstract:

In the context of global upheaval and a strong trend toward energy transition, transforming the growth model has become an urgent requirement for the Vietnam National Industry - Energy Group (PetroVietnam). The traditional resource-based growth model is increasingly revealing its limitations. This paper analyzes PetroVietnam’s strategic shift toward a new growth model, driven by core pillars: Science and Technology (S&T), Innovation, and Digital Transformation. The foundation for this transformation is the "Strategy for Science, Technology, and Innovation to 2030, with Orientation to 2050" currently under development. The paper focuses on key strategic technology directions that PetroVietnam intends to prioritize for development and application, including: optimization of current operations through digital technologies and AI; development of clean energy and green chemicals; decarbonization technologies and circular economy practices; and advanced energy and material technologies. Additionally, the paper introduces systemic implementation solutions being proposed, particularly the development of the “Petrovietnam Innovation Ecosystem (PIVOT),” to ensure a successful transformation. This approach aims to enhance PetroVietnam’s competitiveness and secure sustainable development in the evolving energy landscape.