On June 29, 2023, PVFCCo (PetroVietnam Fertilizer and Chemicals Corporation) had the honor of being recognized in the “Top 50 Exemplary Sustainable Development Enterprises 2023” in the category of “Outstanding Risk Management Platform.” Nhip cau Dau Tu magazine awarded this title to outstanding enterprises that have significantly contributed to promoting sustainable development, environmental friendliness, and social equity.
Attending the prestigious event, Mr. Le Cu Tan, President & CEO of PVFCCo, stated that this recognition serves as both an acknowledgment and motivation for PVFCCo to continue implementing activities related to sustainable development, especially risk management. PVFCCo is a company engaged in the production and business of fertilizers and chemicals, and its growth targets in the development strategy are always linked to the goal of accompanying the sustainable development of the agricultural sector and rural development. The company recognizes that to maintain long-term sustainable development, it is necessary to ensure that the increase in benefits is proportionally shared among all stakeholders. With this understanding, PVFCCo has established a task force committed to sustainable development goals, connecting with groups ranging from employees, suppliers, and customer partners, to vulnerable individuals affected by unfavorable market fluctuations in recent years.
Further explaining the risk management work, Mr. Le Cu Tan stated that in an increasingly unpredictable and volatile environment, this has always been a top concern at PVFCCo. Over the past 20 years, PVFCCo has continuously built, improved, implemented, and updated a system of risk management solutions, along with advanced corporate governance practices, to effectively implement risk management measures ensuring the safety of production, business operations, and investments.
In risk management, the company places special emphasis on forecasting and business planning. At the same time, the overall resource management system of the enterprise is constantly improved and enhanced. To date, the company has successfully implemented the Enterprise Resource Planning (ERP) system, Phase 1, and operated the ERP system, Phase 2, with the Planning and Forecasting Module (HPM – Hyperion Planning Management) and the Manufacturing Management Module (OPM – Oracle Processing Manufacturing), which has been improved after the operation. The next phase, Phase 3, includes the Business Intelligence Module (BI), aiming to maximize automated control and direct control within the system, thereby enhancing operational and management capabilities at PVFCCo.
It is known that the “Top 50 Sustainable Development Enterprises” is organized by the Investment Bridge magazine in coordination with the Appraisal Council, which includes leaders from HSBC Bank, Deloitte, PwC, Institute of Circular Economy Research and Development, VinaCapital Fund Management Company, and Talentnet Company. This collaboration aims to ensure objectivity and scientific rigor in the evaluation process. The program evaluates three categories of enterprises: foreign-invested enterprises, listed companies, and small and medium-sized enterprises.
