On September 22, 2026, in Phu Quoc, Vietnam National Petroleum Group (Petrolimex/the Group) and Sun Group signed a Strategic Cooperation Agreement, marking a new stage in the relationship between the two parties while opening up opportunities for deeper connections between their respective ecosystems across multiple sectors. The cooperation is expected to contribute additional resources to support Phu Quoc in preparing for APEC 2027, while creating practical, long-term and sustainable value for the businesses, customers and socio-economic development.
Attending the signing ceremony, representatives from Petrolimex included Mr. Luu Van Tuyen – Deputy Secretary of the Party Committee, Member of the Board of Directors and General Director of the Group; Mr. Tran Tuan Linh – Member of the Group’s Board of Directors; Mr. Nguyen Quang Dung – Deputy General Director of the Group; Mr. Nguyen Ngoc Tu – Deputy General Director of the Group; together with representatives of the Group’s functional departments and member companies within the Petrolimex ecosystem.
Representing Sun Group and National Citizen Commercial Joint Stock Bank (NCB) were Ms. Bui Thi Thanh Huong – Vice Chairwoman of the Board of Directors and General Director of Sun Group, Chairwoman of the Board of Directors of NCB; Mr. Nguyen Manh Quan – Deputy General Director of Sun Group and General Director of the Aviation Division; Mr. Huynh Nam Thang – Vice Chairman and General Director of Sun Group – Southern Region; Mr. Ta Kieu Hung – Member of the Board of Directors and General Director of NCB; together with representatives of functional departments and member companies within the Sun Group ecosystem.
Mr. Nguyen Manh Quan – Deputy General Director of Sun Group and Mr. Nguyen Quang Dung – Deputy General Director of Petrolimex signing the Strategic Cooperation Agreement between the two Groups
Mr. Ta Kieu Hung – Member of the Board of Directors and General Director of NCB, and Mr. Nguyen Ngoc Tu – Deputy General Director of Petrolimex signing the Strategic Cooperation Agreement between Petrolimex and NCB
Mr. Truong Viet Cuong – Deputy General Director of Sun PhuQuoc Airways and Mr. Luong Ho Anh – Deputy General Director of Petrolimex Aviation signing the Memorandum of Understanding on expanding cooperation in aviation fuel supply and fuel infrastructure development at airports
Under the Strategic Cooperation Agreement, Petrolimex and Sun Group have established a cooperation framework to leverage their respective strengths, connect resources and gradually translate cooperation opportunities into specific initiatives across the fields of energy, petrochemicals, green energy infrastructure, finance – banking – insurance, trade – services and ecosystem operations.
Alongside the overall cooperation agreement between the two Groups, Petrolimex and NCB signed a Strategic Cooperation Agreement in the finance and banking sector, while Petrolimex Aviation Joint Stock Company (Petrolimex Aviation) and Sun PhuQuoc Airways signed a Memorandum of Understanding to expand cooperation in aviation fuel. These represent the first specific initiatives to be implemented under the cooperation framework between Petrolimex and Sun Group.
Speaking at the signing ceremony, Mr. Luu Van Tuyen – General Director of Petrolimex – emphasized that the significance of the event lies not only in the establishment of a cooperation agreement, but also in the two parties’ alignment on priority areas, coordination mechanisms and approaches to connecting resources in order to gradually translate cooperation opportunities into practical outcomes.
Under the agreement, the two parties will focus on three key areas: enhancing the integrated energy supply chain; expanding cooperation in finance – banking – insurance; and developing a customer experience ecosystem through trade, payment, branding and digital platform initiatives.
In the energy sector, Petrolimex and its member companies will study the provision of stable, long-term energy products to support the investment, construction and operation of projects within the Sun Group ecosystem. The two parties will also explore solutions for energy efficiency, electric vehicle charging stations, rooftop solar power and integrated energy utilities at suitable projects, with Phu Quoc prioritized in the initial phase.
One notable area of cooperation is the agreement between Petrolimex and Sun Group to expand cooperation in Sustainable Aviation Fuel (SAF) at the Group level, while jointly studying solutions to promote the energy transition and reduce emissions in the aviation sector.
To concretize this direction, Petrolimex Aviation and Sun PhuQuoc Airways signed a Memorandum of Understanding to expand cooperation in aviation fuel supply and study the development of fuel infrastructure at airports. The cooperation provides an additional foundation for Petrolimex Aviation to leverage its capabilities across the aviation fuel supply chain, while expanding research into fuel solutions aligned with the aviation industry’s green transition trends.
In the finance and banking sector, Petrolimex and NCB will coordinate to implement cash flow and capital management solutions, together with suitable banking products and services. The two parties will also explore the development of card products, payment solutions and preferential programs for Petrolimex customers and employees, while connecting privilege programs within the Sun Group – NCB – VISA ecosystem.
Phu Quoc has been identified as one of the priority areas for the two Groups to study and implement cooperation initiatives, initially focusing on energy supply, aviation fuel, green energy infrastructure and services supporting tourism and aviation activities.
As Vietnam hosts APEC 2027, with Phu Quoc designated as the venue for the APEC Economic Leaders’ Week, the connection between Petrolimex’s supply, distribution and logistics capabilities and Sun Group’s infrastructure, aviation, tourism and service projects in the area is expected to provide additional resources for the preparation, operation and servicing of the event.
Through this agreement, Petrolimex and Sun Group aim to establish a substantive and long-term cooperative relationship, leverage their respective strengths and gradually translate the agreed initiatives into practice. On the basis of the overall and sector-specific agreements signed, the two parties will continue to identify priority areas, coordination focal points and implementation roadmaps, thereby enhancing value for businesses, customers and partners, while contributing to the green transition and sustainable development.
Some images from the Signing Ceremony:
Mr. Luu Van Tuyen – Deputy Secretary of the Party Committee, Member of the Board of Directors and General Director of Petrolimex, delivering remarks at the Signing Ceremony
Ms. Bui Thi Thanh Huong – Vice Chairwoman of the Board of Directors and General Director of Sun Group, delivering remarks at the Signing Ceremon
Mr. Ta Kieu Hung – Member of the Board of Directors and General Director of NCB, delivering remarks at the Signing Ceremony.jpg)
Petrolimex commits to accompanying Sun Group with a spirit of sincere, responsible and long-term cooperation
The cooperation is expected not only to contribute to the successful hosting of APEC 2027 but also to create practical, long-term value for Vietnam’s development