PVFCCo – Phu My Must Identify Core Competencies for Sustainable Development

On June 9 in Ho Chi Minh City, Mr. Lê Mạnh Hùng – Chairman of the Members’ Council of the Vietnam National Industry – Energy Group (Petrovietnam) – chaired a working session with the PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo – Phu My) to review the business performance over the first five months of 2025, discuss plans for the remaining months of the year, and outline directions for the upcoming development period.

At the meeting, PVFCCo – Phu My’s leadership reported that, despite rising gas prices, a stronger USD exchange rate, and a highly volatile market, the Corporation has maintained stable production, implemented cost-saving measures effectively, and upheld the strong market presence of the Phu My brand.

Strong Performance Amid Market Turbulence

According to the report, in the first five months of 2025, PVFCCo – Phu My met all business targets assigned by Petrovietnam. It achieved production cost savings of VND 123 billion (50% of the annual target), including VND 113 billion in energy savings.

Specifically, compared to Management Plan 529:

• Urea output reached 377,687 tons (101% of plan)

• NPK output reached 88,942 tons (135% of plan)

• Financial indicators exceeded the plan by 30–91%

Despite increased input costs and market fluctuations, PVFCCo – Phu My maintained stable operations and efficient production.

Petrovietnam Leadership Emphasizes Strategic Transformation

During the session, Petrovietnam’s leadership and professional departments held comprehensive discussions with PVFCCo – Phu My to assess business results for the first five months and provide guidance for the remainder of the year and future periods.

On behalf of Petrovietnam, Chairman Lê Mạnh Hùng acknowledged and praised PVFCCo – Phu My’s recent efforts. He noted the Corporation’s swift organizational stabilization, strengthened internal solidarity, and effective execution of production and business activities.

Mr. Phan Công Thành, General Director of PVFCCo – Phu My, shared key positive outcomes from the first five months. Notably, PVFCCo – Phu My was one of the few units to exceed all management targets set by the Group, reflecting the Corporation’s strong governance and concerted efforts.

2025: A Strategic Pivotal Year

Chairman Lê Mạnh Hùng stressed that 2025 is a pivotal year — both to fulfill the objectives of the 2020–2025 term and to lay a strategic foundation for 2025–2030. To maintain development momentum, PVFCCo – Phu My must focus on addressing several long-term, strategic issues, especially in transforming its business model, applying science and technology, and developing new products.

He proposed that PVFCCo – Phu My comprehensively reassess its strategy in the context of evolving conditions, with a focus on:

• Core markets

• Input materials

• Core products and technologies

• Industry value chain optimization

The Corporation must also:

• Clearly identify its core competencies

• Establish a roadmap for new product development

• Shorten plant maintenance durations while ensuring absolute safety

• Enhance R&D and technology innovation

• Leverage emerging policy mechanisms

• Develop a corporate culture resolution aligned with sustainable and efficient growth

Chairman Lê Mạnh Hùng emphasized that the development strategy must align with Petrovietnam’s overarching goal of achieving at least 8% revenue growth. Specifically, PVFCCo – Phu My is expected to reach a revenue milestone of no less than VND 16,000 billion in 2025.

Affirmation of Determination from PVFCCo – Phu My Leadership

Mr. Nguyễn Xuân Hòa, Chairman of the Board of Directors of PVFCCo – Phu My, expressed sincere gratitude to Chairman Lê Mạnh Hùng and the leadership team of Petrovietnam for their close support and clear guidance.

He emphasized that the strategic analyses and recommendations from Petrovietnam provide invaluable insights for PVFCCo – Phu My to comprehensively reassess its business landscape and development strategy.

He affirmed that based on Petrovietnam’s directives, PVFCCo – Phu My would appropriately adjust its strategic approach, with a particular focus on identifying and strengthening its core capabilities for sustainable growth in the coming period.

Mr. Hòa also expressed the unit’s hope for continued trust and collaboration from Petrovietnam, asserting that the entire PVFCCo – Phu My team will uphold its legacy, draw lessons from past experience, and move forward in unity and determination to successfully fulfill the 2025 targets.

He concluded by emphasizing that the successful achievement of the 2025 goals would serve as a strong foundation for PVFCCo – Phu My to confidently enter the next development phase (2026–2030) with greater initiative and resilience.

Corporate Culture: A Pillar of Sustainability

Corporate culture was also highlighted as a key element in PVFCCo – Phu My’s sustainable development strategy. Mr. Hòa reiterated the importance of instilling a unified, value-driven culture that supports the Corporation’s long-term mission and reinforces its internal strength amid challenges.