A kite flies high thanks to headwind. The picture of Petrovietnam Fertilizer and Chemical Corporation (PVFCCo) might be similar to a "kite" boldly coping with high winds, overcoming challenges to "fly high" heading to success.

Mr. Le Cu Tan – General Director of PVFCCo received the Medal of Top 50 leading brands

On the stylized cover of Time Magazine, the number of 2020 is crossed out with a sole headline below as a conclusion: "The worst year". So is the picture of the world oil and gas industry, perhaps it had never seen before a series of "giants" falling into tragedy when revenue declines, making loss, or even falling in bankruptcy due to Covid-19 pandemic and shocking oil price fall.

In Vietnam, for the oil and gas industry, 2020 is a year of dangers and challenges. PVFCCo is not the exception.

The Covid-19 epidemic broke out, causing the export activities of Vietnam agricultural products to China – the main consumer of Vietnam's agricultural products – almost frozen, leading to many consequences, price of agricultural products dropped dramatically, limiting investment in agriculture, resulting in a sharp decrease of the demand for fertilizers.

Phu My fertilizer products have been improved better in qualities

In addition, the weather in 2020 was very unusual and severe, hail destroyed crops in the North; drought, salinity in the Mekong Delta; Super typhoon, terrifying floods devastated the central land. Natural disasters caused a decline in cultivated area and crop yield, leading to a sharp decrease of fertilizer demand.

Being aware of that in order to overcome challenges and make full use of opportunities, safety must be put on top priority the pandemic context, PVFCCo was serious in both preventing & combating epidemics and maintaining uninterrupted production and trading activities; applying various measures to protect employees' health, bringing in remote/online working mode, enhancing IT system, quickly shifting events and business activities into appropriate mode in the context of epidemic and new normal conditions. Many initiatives to secure safety ware applied effectively and the whole PVFCCo staff was safe.

In production, the plant operated stably, efficiently and product quality was improved better. In business, although the selling price dropped deeply, owing to flexible marketing decisions and campaigns, following close the market, PVFCCo boosted sales and gained high profits. Especially, in 2020, PVFCCo exported 71,000 tons of Phu My urea to India, opening up a new road for the Phu My brand in this potential market.

Not only in but before 2020, PVFCCo had been aware that to meet the-later-the-higher demand of the market, as well as to survive and develop sustainably, it is imperative to diversify product range and develop new products in addition to traditional ones. Last year, R&D was accelerated, accounting for promising progresses, especially in the marketing phase which paved the way for trading in new products in 2021.

And, in the "big wind" of the present, renovation and restructuring is vital for a business survival and development. In 2020, PVFCCo drastically implemented restructuring such as rearranging and merging functional departments; testing the pluralism for a number of corporate officers who concurrently hold leaders in PVFCCo subsidiaries; rearranged and streamlined organizational structures subsidiaries; making first steps in transformation of workforce towards more direct labors, etc. All those have brought about initial positive results. In 2020 PVFCCo also kept practicing thrift and waste fighting with remarkable results, saving more than 400 billion dong.

Overview of Phu My Fertilizer Plant

In 2020 full of "storms and winds", all employees of PVFCCo worked together to overcome difficulties, turning dangers into chances, making full use of every opportunity achieving prideful results. PVFCCo of 2020 is like “a kite of headwind flying high", completing and exceeding most of the main production and business targets.

Entering the year 2021, PVFCCo will continue to face challenges from the outside as well as internally of the business, especially the epidemic which is still happening in the world and in the country; The weather is forecasted to be still harsh … However, with the positive results and lessons learned from 2020, a particularly difficult year in its history, PVFCCo is determined and confident. that will fly higher like a windy kite.