On August 25th, 2011 at PVFCCo Tower, Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo – stock code DPM) and PVI Insurance JSC have signed contract to implement An Nong Viet Insurance for farmers to buy and use Urea Phu My. This signing ceremony is aimed to concretize the principle contract signed by two parties on May 09th 2011 in Hanoi. Attendees of the ceremony were Mr. Nguyen Xuan Thang – Member of Council Member of Petrovietnam, Mr. Bui Van Thuan – President & CEO of PVI Holdings, Mr. Bui Minh Tien – Chairman of PVFCCo and Mr. Cao Hoai Duong – President & CEO of PVFCCo. Accordingly, An Nong Viet Insurance program whose targets are rice plants using Urea Phu My of PVFCCo, the insured (insurance beneficiaries) are users of Urea Phu My on the fields, and insurer (total fee) is PVFCCo, is implemented through distribution channel system of PVFCCo and insurance agents of PVI. The program was implemented for 12 months in seven provinces including Thanh Hoa, Nam Dinh, Quang Tri, Phu Yen, Ninh Thuan, An Giang, and Bac Lieu. An Nong Viet Insurance program shows not only practical support of the business for farmers to actively reduce the risks in agricultural production but also the response, specification of the Tam Nong policy, social security programs of the Party and State, the 315/QD TTg Decision of the Prime Minister on the pilot implementation of agricultural insurance from 2011 to 2013.
Ceremony of signing the contract to implement An Nong Viet insurance
