(PetroTimes) – Despite facing numerous challenges, the staff and management of PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo) successfully met major business and operational goals assigned by the Group and internal management targets within the first nine months of 2024.
On the morning of October 31, 2024, PVFCCo held a preliminary conference to review Party and business activities for the first nine months of 2024 and outline key tasks for the year’s final three months. The conference took place at the Corporation’s headquarters and was broadcast to locations in Ba Ria – Vung Tau, Hanoi, Binh Dinh, and Can Tho.
The meeting was presided over by Mr. Nguyen Xuan Hoa – Party Secretary and Chairman of the Board of Directors; Mr. Phan Cong Thanh – Deputy Party Secretary and President,CEO; and Ms. Tran Thi Phuong Thao – Deputy Party Secretary and Deputy President,CEO. It was also attended by members of the Party Committee, the Board of Directors, the Executive Board, the Supervisory Board, and other leaders across departments, offices, and affiliated units, as well as representatives of PVFCCo’s social organizations.
Overview of the First Nine Months’ Results
In his opening remarks, Mr. Nguyen Xuan Hoa stated that PVFCCo has completed approximately 80% of its journey for 2024. Despite obstacles, all employees’ collective effort and determination enabled the Corporation to fulfill key assigned objectives. However, there are areas where improvement is needed, including some unmet targets for the nine months and delays in the implementation of certain investment projects.
This meeting was an opportunity for PVFCCo to assess its progress comprehensively in Party and business activities from the start of 2024, while also discussing solutions to accelerate work in the remaining months of the year.
Performance Report for Party and Business Activities
The report highlighted the Party Committee’s proactive approach in identifying challenges at the start of the year and issuing essential directives to guide PVFCCo through the difficult environment of 2024. The Party Committee’s work included efforts in thought leadership, tradition education, cultural renewal, and building internal trust. It also focused on information dissemination, employee management, and legal compliance, creating a positive impact both internally and externally.
In line with this, PVFCCo continued to promote learning and following President Ho Chi Minh’s ideology and ethics, organizing themed activities under “One Team, One Goal,” and fostering corporate culture and trust among employees.
Business Operations and Market Adaptations
Despite unfavorable conditions such as a sluggish fertilizer market, fluctuating prices, and rising costs for raw materials, PVFCCo navigated these issues by closely monitoring market trends, managing production costs, balancing domestic and export markets, and addressing operational challenges. As a result, primary product output met the nine-month plan, and total fertilizer sales reached 103% of the target.
Investment Project Updates and Goals for the Final Quarter
During the conference, representatives discussed operational challenges and strategies, including those related to digital transformation projects and development investments.
For the last quarter, PVFCCo’s Party Committee directed all levels to align closely with set goals. This includes ensuring safe, stable factory operations, closely monitoring market dynamics to meet business targets, and enhancing export efforts to alleviate pressure on the domestic market. PVFCCo will also prioritize flexible sales strategies, digital transformation, and chemical projects to balance its fertilizer division while advancing sustainable organic fertilizer strategies aligned with green agricultural trends.
Closing Remarks
The leadership expressed confidence that with a clear understanding of challenges and development solutions, combined with the determination and skill of its workforce, PVFCCo will continue to lead in the fertilizer and chemical sectors.
