An overview of the conference.
The conference on July 24 was co-chaired by Hoang Van Quang, chairman of PV Power’s Board of Directors, and Le Nhu Linh, president and CEO of PV Power. It was attended by members of the Board of Directors, the Executive Board, and the Supervisory Board, together with leaders of the corporation’s specialised departments and capital representatives from subsidiaries and affiliated enterprises.
Delegates attend the conference.
Nhu Linh opened the conference by emphasising how PV Power's network of subsidiaries and investee businesses has gradually improved in terms of corporate governance, operational effectiveness, and competitive strength in tandem with the corporation's ongoing development. He pointed out that the substantial efforts of the firm’s capital representatives and executive office holders, who are spread throughout its linked units and businesses, have supported these accomplishments.
Le Nhu Linh, president and CEO of PV Power, emphasises that capital representatives serve as the bridge carrying the corporation’s strategic direction into the operations of each enterprise.
Capital representatives do far more than exercise shareholders’ rights and fulfil shareholders’ obligations in accordance with the law, corporate charters, and PV Power’s internal regulations. They serve as the essential channel in which to integrate the Corporation’s strategic vision and policies into each enterprise's daily operations. Through their direct involvement in corporate governance and executive management, they help to safeguard and grow invested capital, improve business performance, and strengthen the competitiveness of the companies they oversee.
Presenting the report at the conference, Phan Ngoc Hien, vice president of PV Power, said their investment portfolio is still mostly focused on power generation and services throughout the electricity value chain, which is consistent with its long-term development strategy and core business operations. PV Power currently holds investments in 13 subsidiaries and affiliated enterprises, with a total existing investment value of approximately VND5.939 trillion, including around VND5.102 trillion invested in companies over which they retain controlling interests.
Phan Ngoc Hien, vice president of PV Power, presents the report at the conference.
Capital management has begun to deliver tangible results, thereby making a meaningful contribution to PV Power’s overall performance. Several investee businesses have continued to operate with high operational efficiency and stable dividend payouts. Most notably, PV Power has received cumulative dividends of VND4.619 trillion from PV Power NT2 and VND134 billion from PV Power Services.
Alongside these achievements, the conference also candidly identified a number of shortcomings that must be fixed. The findings underscored the need for PV Power to keep evaluating and categorising every investment, pinpoint operational bottlenecks, and adopt governance solutions tailored to each enterprise. This should be done whilst simultaneously aligning the responsibilities of capital representatives more closely with the actual performance and operational effectiveness of the businesses.
During the course of the conference, representatives from subsidiaries and affiliated enterprises exchanged views on a range of governance and management issues, including succession planning for leadership positions in remote areas, the allocation of authority between Boards of Directors and executive management teams, recruitment and workforce preparation for the operation of the Nhon Trach 3 and Nhon Trach 4 power plants, talent-retention policies, post-merger and acquisition workforce integration, labour and remuneration management, the expansion of technical services, and the role of capital representatives in enterprise risk management.
The conference also served to introduce and provide guidance on the implementation of PV Power’s newly issued regulations governing executive office holders and capital representatives, the assignment of managerial responsibilities, and the management of labour, salaries, remuneration, and bonuses. These measures are intended to establish a common understanding and a consistent approach relating to the implementation across the Corporation, reinforcing discipline, governance standards, and accountability throughout the management system.
Moving forward, PV Power will continue to improve its internal policies and institutional framework, streamline its organisational structure, maximise its resources, and build a solid pipeline of successor leaders over the coming years. It will expedite the training, redeployment, and rotation of younger managers. Simultaneously, it will digitise the management of capital representatives, expand the use of technology and artificial intelligence in human resource management, strengthen specialised training in corporate governance, capital management, legal affairs, finance, investment, and risk management, whilst gradually modernizing its governance model through performance-based management and KPI systems.
Hoang Van Quang, chairman of PV Power, commends executive office holders and capital representatives for effectively fulfilling their assigned responsibilities and contributing to the preservation and growth of the corporation’s invested capital.
Concluding the conference, Van Quang acknowledged that executive office holders and capital representatives had, in general, fulfilled their assigned roles and responsibilities effectively, participating actively in corporate governance and executive management and making an important contribution to preserving and growing PV Power’s invested capital.
He called on capital representatives to further strengthen their professional judgement, accountability, professionalism, and ethical standards, all as part of a wider effort to fully exercise their rights and discharge their obligations in accordance with applicable regulations, thereby placing the organisation’s overall interests at the centre of governance and decision-making.
The chairman also instructed functional departments to continue reviewing and finalising management mechanisms, while intensifying guidance, inspection, supervision and rigorous performance evaluation of capital representatives, and promptly addressing any difficulties or bottlenecks that arise in practice.
The conference served to reinforce a shared commitment across the corporation to building a team of capital representatives equipped with professional expertise, resilience, accountability and a modern governance mindset. In doing so, the group aims to enhance the efficiency of capital utilisation, create greater value across its investee enterprises, and help PV Power to carry out its long-term development strategy and production and business ambitions.
