Memorandum of Understanding between PVFCCo (Phú Mỹ) and Stavian Group on Chemicals and Plastic Pellets

Ho Chi Minh City, February 21, 2025 – PetroVietnam Fertilizer and Chemicals Corporation (Phú Mỹ, PVFCCo) and Stavian Group Joint Stock Company (Stavian Group) have officially signed a Cooperation Agreement to drive the expansion of investment and business activities in the chemical industry and in products derived from plastic pellets. The signing ceremony was held at the PHUMY Tower headquarters, with the leadership teams from both parties in attendance to sign and witness the event.

Under the terms of the agreement, both parties have committed to collaborate in key areas, including: researching investment opportunities in chemical production, with a special focus on modern chemical production projects that pave the way for sustainable industry growth; partnering in the distribution of Adblue, hydrogen peroxide (H2O2), and other chemical products manufactured by Phú Mỹ, leveraging Stavian Group’s robust international distribution network; and jointly producing and distributing products made from plastic pellets, such as various types of plastic packaging, agricultural mulch films, and other market-leading products.

This strategic move is designed to maximize the effective utilization of each party’s resources and expertise and unlock numerous new growth opportunities. In the context of increasing international economic integration, this initiative is set to foster the development of high-quality chemical and plastics industries that meet market demand while contributing to environmental safety and sustainability.

During the ceremony, Mr. Phan Công Thành – CEO of Phú Mỹ – and Mr. Đinh Đức Thắng – Chairman of the Board and CEO of Stavian Group – both highlighted that this agreement marks an important milestone in deepening the collaboration between the two enterprises. They emphasized that this initiative will further strengthen the companies' bonds and catalyze more robust and practical cooperation, creating significant growth prospects for both sides. Mr. Đinh Đức Thắng also expressed his vision for broadening the cooperation model between state-owned and private enterprises, enabling the entire business community to work together towards common development goals and build an exceptionally dynamic and sustainable economy.

It is noteworthy that PetroVietnam Fertilizer and Chemicals Corporation (Phú Mỹ, PVFCCo) stands as a leading entity in fertilizer production and distribution in Vietnam. In line with its new development strategy, Phú Mỹ is accelerating the expansion of its chemical sector to capitalize on the advantages of its integrated complex at Phú Mỹ and the chemical and oil refining network of Petrovietnam. For more information on Phú Mỹ, please visit: www.dpm.vn.

On the other side, Stavian Group is a large-scale industrial, technology, and multinational trading conglomerate with over 30 branches worldwide. The group exports goods to more than 100 countries and territories and has earned recognition as one of the Top 17 Largest Chemical Distributors Globally, one of the Top 21 Largest Private Enterprises in Vietnam, and one of the Top 10 Golden Stars of Vietnam in 2024.