As industry leaders, state enterprises are responsible for forming value chains and promoting innovation in their respective sectors by mobilizing the participation of enterprises from various economic components.

Cement, petroleum and retail stocks are those that could see strong rises in 2021.

The average tax contribution from 30 enterprises in the list is estimated at VND3 – 6 trillion (US$130 – 260 million) per year in the 2015 – 2019 period.

PVN accounts for about a third of the country's refined product output and supplies gas for power plants that make up about 15% of Vietnam's power generation.

The Ken Bau well is set to be put into operation by 2028.

Under the revised regulation, local oil and petrol traders are now allowed to transfer their stakes to foreign investors but foreign ownership should not exceed 35%.

A representative of the trade ministry, however, suggested measures should be in compliance with current regulations and international agreements that Vietnam is a part of.

The ratings are at the same level as the Vietnam sovereign rating.

Overall crude oil and natural gas production in Vietnam may suffer year-on-year declines of 5% and 1%, respectively, in 2020.