PVFCCo has just been honored with the 2020 Top Vietnamese 50 brands in the fields of business under Forbes Vietnam Magazine ranking. This is the 5th consecutive year for PVFCCo to attain this Forbes Vietnam’s award.
On December 17, 2020, Mr. Le Cu Tan – PVFCCo CEO - attended the Honoring Ceremony and received award from the Organizing Committee. At the Vote announcement, PVFCCo’s Dam Phu My (Phu My Urea) brand fell into the leading group of agricultural category with an estimated value of about 21.4 million USD.
Phu My Urea produced by Phu My Fertilizer Plant is the key brand among PVFCCo various products. For 16 years since its debut, Phu My Fertilizer has been proving its well-known brand in fertilizer industry, making a great contribution to PVFCCo business achievement in particular and the oil industry in general.
In the context of Covid-19 spreading in 2020, unfavorable weather and slump of fertilizer industry, that causes difficulties, PVFCCo took the initiative to setup and put into force anti-crisis measurements with the aim to sustain production activities, promote sales. As a result, 2020 made the company another successful year in all aspects.
For Phu My Urea alone, the company reached the planed production on November 25, 2020. Expectedly, Phu My Fertilizer Plant will achieve a production of 868 thousand tons of Urea in 2020, accounting for an 11% beyond the plan and a 23% increase compared to the plant name plate. This is the highest ever annual production since the plant first commercial operation in 2004.
Total Phu My Fertilizer sales volume is estimated at 807 thousand tons, 3% higher than the annual plan.
The Top50 Brands is chosen by Forbes Vietnam every year and this is the fifth year of publication. The total brand value of 2020 list is more than 12.6 billion USD, accounting for a 22% increase as compared to the fourth year. Most of the honored businesses are more than 10 years old – an enough maturity for them to carve out their names. Forbes Vietnam made this list based on Forbes (USA) format, namely evaluating the contribution of the brand in the business performance. The top valuable brands are the ones of those businesses that have huge revenues, well-known and high level of consumer awareness. Forbes Vietnam considers businesses gross incomes and prevailing loan interest, then determines the contribution of intangible assets. Such a process takes into account of businesses financial statements