21 years of steady companionship with the country's agriculture
PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo) - formerly PetroVietnam Fertilizer and Chemicals Company - was established on March 28, 2003 with the task of receiving Phu My Fertilizer Plant - the first plant in Vietnam to produce nitrogen fertilizer from natural gas with a capacity equivalent to nearly 50% of the domestic demand for nitrogen fertilizer at that time.
Since its establishment, PVFCCo has continuously developed and improved its production, business and management capacity to become one of the leading enterprises in the fertilizer and chemical industry in Vietnam.
With the slogan "For a bumper crop", since its inception until now, PVFCCo has always strived to research and invest to create high-quality fertilizer products, contributing with farmers to create bumper crops in fields, farms and gardens.
PVFCCo considers ensuring product quality to meet market demand as a prerequisite for the survival of the Corporation. Currently, PVFCCo has a comprehensive range of fertilizer products including Phu My Urea, Phu My Potassium, diverse formulas of Phu My NPK, and specialized product lines for urban agriculture.
Over the years, PVFCCo has maximized its internal strength, continuously completing and exceeding its tasks. The brand "Phu My Fertilizer" has always been the first choice of farmers, is considered one of the Top 50 most valuable brands in Vietnam, has been voted as "High-quality Vietnamese Goods" for 21 consecutive years, and is an official partner of the Government's "National Brand" program.
Besides fertilizers, PVFCCo has also affirmed its position in the field of chemical and specialized chemical production. The contribution of the chemical segment in revenue and profit to PVFCCo is increasing, helping the Company to be more and more balanced, walking on both “fertilizer” and “chemical” legs, contributing to the solid position of PVFCCo as it is today.
It can be affirmed that after 21 years of establishment and development, PVFCCo has excellently fulfilled its political mission by supplying the agricultural sector with nearly 20 million tons of high-quality fertilizer at reasonable prices, contributing to stabilizing the domestic market and promoting the development of agriculture, making Vietnam a world agricultural export powerhouse.
At the same time, thanks to effective production and business activities, the state's investment capital was quickly recovered and high efficiency was brought to investors - a rare result in both public and private investment projects in Vietnam up to now.
To achieve these successes, we must first of all mention the contributions of the Party and State leaders of that period, who made extremely wise and courageous decisions when deciding to invest in the construction of Phu My Fertilizer Plant.
Next is the contribution of the leaders of the Ministries, branches, of the Vietnam Oil and Gas Group, of the Project Management Board at that time, leaders and employees of PVFCCo through the periods... those are the people who turned the project into reality, contributed their efforts to create a PVFCCo like today.
In addition to successfully completing production and business tasks and thoroughly implementing the culture of "humanity and affection" of the Vietnam Oil and Gas Group (Petro Vietnam), PVFCCo always prioritizes allocating resources and performing well the social security work towards the community.
PVFCCo's social security activities demonstrate the values of "Responsibility - Sharing - Dedication" which have become a typical cultural feature of PVFCCo. PVFCCo is also one of the leading enterprises in social security and social responsibility.
Since its establishment, PVFCCo has spent more than VND 1,200 billion on social security programs with nearly 26,000 solidarity houses built, nearly 300 medical - educational projects, rural bridges, hundreds of thousands of relief gifts for natural disaster victims, Tet gifts for the poor, scholarships for students...
Adding new impetus to sustainable development
On March 28, 2024, PVFCCo celebrated its 21st birthday after 2023 was considered the most difficult year ever. However, with maximum efforts in management, production and business operations, and proactive solutions, PVFCCo has basically overcome objective and internal challenges, stabilized production and business activities and achieved positive results.
Accordingly, in the first two months of 2024, PVFCCo's main targets were basically completed or exceeded the plan, which is the foundation for successfully completing the tasks of the first quarter as well as the whole year of 2024.
Assessing that the world market and geopolitical situation in the coming time will have many complex and unpredictable fluctuations, PVFCCo has been strengthening forecasting work and making careful preparations.
The Board of Directors and staff of PVFCCo determined that in order to grow, it is necessary to thoroughly grasp and seriously implement the motto of the Vietnam Oil and Gas Group: "Renew old motivation, supplement new motivation".
Specifically, it is to operate production plants safely and stably, ensuring output and product quality; effectively trading fertilizer and chemical products with efforts to strengthen cost management, reduce product prices; increase market share and strongly apply technology solutions - digital transformation in marketing, sales and customer care.
Actively carry out research and development of new products; strengthen financial management and risk management to ensure a healthy financial situation and improve the efficiency of using existing assets; accelerate the implementation of new investment projects. These are the “backbone” task groups that help the Corporation form and realize sustainable development goals.
Regarding medium and long-term development strategy, PVFCCo will increase investment to expand production and business scale based on the principle of optimal use of PVFCCo's infrastructure and resources, integration with the existing Phu My Fertilizer Plant and Petrovietnam's petrochemical refinery projects, mergers and acquisitions...
PVFCCo will increase investment and develop new products, especially deeply processed products, diversifying from the Factory's existing products such as hydrogen peroxide (H2O2), DEF...
Vision goal by 2045 PVFCCo becomes an enterprise producing fertilizers and chemicals that meet international standards, creating a sustainable development value chain.
To achieve these goals, PVFCCo will strengthen corporate governance, fluctuation management, risk management, strong restructuring, promote digital transformation associated with business model shift, expand international markets, increase the use of clean energy in production and business as well as shift to using other forms of energy in line with the goals and roadmap for emission reduction of the Vietnam Oil and Gas Group.
Entering the age of 21 with the PVFCCo cultural foundation, the depth of development and accumulated experience, the attention and facilitation of the parent company - Vietnam Oil and Gas Group, the companionship and trust of shareholders and customers, PVFCCo is determined and resolute to constantly add new motivation.
This will be a solid foundation, creating momentum for PVFCCo to overcome all difficulties and challenges and develop to a new height, becoming one of the leading enterprises in the region in fertilizer and chemical production.
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