There’s a saying that “Seventeen aged can break the buffalo’s horn”, which refers to the age of vigor and enthusiasm. The age of 17 of PetroVietnam Fertilizer and Chemicals Corporation shall be such a strong new age!

That strength is expressed through the determination to complete the impressive plan that PVFCCo has set in 2020.

In particular, 2020 is expected to be a difficult year for the agriculture and fertilizer industry across the country. These difficulties may include the impact of climate change to cultivation and fertilizer consumption; a large excess supply; the competition with imported fertilizers; fake and poor-quality fertilizers, etc.

However, on the basis of analyzing and recognizing the limitations that need to be overcome, lessons learned and market forecasts, PVFCCo has proposed an impressive plan with a total production output of 1,035,750 tons of fertilizers and chemicals, in which Phu My Urea accounts for 785,000 tons, Phu My NPK accounts for 180,000 tons; total business output is 1,263,800 tons of fertilizers and chemicals, in which the business output of two main products which are Phu My Urea and Phu My NPK fertilizer accounts for 960,000 tons; total revenue is VND 9,237 billion, profit before tax is VND 513 billion, and 10% of expected dividend.

It can be seen that, compared to 2019 and in the context of the current difficulties of agriculture and fertilizer industry, the plan in 2020 shows strong growth at all major targets, in which profit target is 2.5 times higher than that of the plan in 2019.

However, this is absolutely not irrational exuberance or dramatic movements to deceive oneself and others. PVFCCo has set and quickly implemented synchronous solutions in production and business in order to achieve this plan. The company strengthens in seeking a stable source of raw materials in both short and long term; reconstruct, optimize, improve operational efficiency, reduce cost; promote research and development activities of new products, services, and potential markets; in addition, take care of the material and spiritual life of employees, etc.

So far back as 17 years ago (28 March 28 2003), PVFCCo – formerly known as PetroVietnam Fertilizer and Chemicals Company – was established with the task of taking over Phu My Fertilizer Plant – the first plant in Vietnam that produced fertilizer from natural gas with a capacity equivalent to nearly 50% of domestic fertilizer demand at that time. Since then, PVFCCo has continuously developed, enhanced its production, business capacity, and corporate governance, becoming a leading force in Vietnam's fertilizer industry.

Over the past years, PVFCCo has maximized its internal resources and operated Phu My Fertilizer Plant in a safe and stable way, continuously completing and exceeding the production targets for many years. “Phu My Fertilizer” brand has always been the first choice of farmers, being considered as one of the Top 50 most valuable brands in Vietnam and voted as “High-Quality Vietnamese Goods” for the 17th consecutive year, becoming an official partner of the government's “National Brand” program.

Since 2018, as the NPK chemical technology Plant came into operation, PVFCCo has been able to provide superior-quality Phu My NPK to replace imported fertilizers, contributing to meeting the needs of advanced agricultural production of farmers nationwide. In addition to fertilizer products with high position in the market, PVFCCo has continued to promote the chemical segment and initially affirms its position in this area.

Not only focusing on production and business activities, as a joint-stock company listed on stock exchanges, PVFCCo has also focused on corporate governance and shareholder relations. PVFCCo always provides timely, complete and accurate information on the situation of all activities of the Company to its shareholders and investors. Therefore, PVFCCo is highly appreciated by shareholders and financial institutions regarding management activities. PVFCCo has received prestigious titles such as: “Listed companies with the best IR activities”, “Top 3 best Corporate governances in ASEAN region”, etc.

In addition to successfully fulfilling its production and business tasks, PVFCCo is also one of the leading companies in social responsibility. Since its establishment, PVFCCo has spent about VND 1,000 billion for social security programs in the fields of health, education, constructing Great Unity houses, performing humanitarian aid and gratitude activities. In March 2020, on the occasion of 17 years of establishment, PVFCCo organized the program “Phu My Fertilizers – For bountiful harvests”, with a total number of gifts of up to 2 million high-grade bottles of Tuong An cooking oil to appreciate customers, and help farmers to overcome this difficult period due to the impact of severe drought and saltwater intrusion, as well as the impact of coronavirus epidemic disease (COVID-19). PVFCCo is an outstanding unit in social security activities not only within Vietnam Oil and Gas Group in particular, but also within domestic enterprises in general.

At the age of 17, PVFCCo is ready to face both old and new challenges on its way towards its greater goals.