On 12 September 2019, the delegation of Vietnam Oil and Gas Group (PVN) led by Mr. Le Manh Hung, President & CEO of PVN visited PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo). On PVFCCo side, the attendees included Mr. Nguyen Tien Vinh – Chairman of BOD, Mr. Le Cu Tan – President & CEO, as well as members of the Board of Directors, Board of Management, Board of Supervisors, Functional divisions, Phu My Fertilizer Plant, Project Management and other units of PVFCCo.
During the meeting, PVN delegation was informed on the business performance of PVFCCo within the first 8 months, plans in the last months of 2019 and for the year 2020, as well as development orientations in the future. According to the report, the year 2019 is considered as one of the most difficult years of the fertilizer industry in general and PVFCCo in particular, mostly due to objective reasons: unfavorable weather, the agricultural prices fell sharply, the demand for fertilizer decreased, input material prices increased, the plant stopped operating for maintenance, etc. In that situation, until the end of August 2019, PVFCCo had strived to run the Plant safely and effectively, continuously improving quality, maximum reducing costs, reaching the total production of fertilizers and chemicals with nearly 510,000 tons, and selling nearly 640,000 tons of chemicals and fertilizers. PVFCCo will strive to fulfill main business targets of the year 2019, actively carry out the project acceptance procedures as prescribed, implement the restructuring and streamlining of the corporate organization, improve the business model, encourage employees, etc.
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