PVFCCo: deserving the title 'Eldest Brother' of Vietnam's petrochemical industry

PVFCCo becoming a leading enterprise in Vietnam's fertilizer industry

Vietnam is an agricultural country, among the top rice exporters in the world, and thus the annual demand for nitrogen fertilizer is more than 2 million tons. But until the end of the 1990s, the whole country had only one nitrogen fertilizer factory of Ha Bac with a production of merely about 7% - 10% of the demand. For the rest, our country had to spend a huge amount of foreign currency at hundreds of millions of dollars to import annually.

On the other hand, due to the almost absolute dependence of domestic urea fertilizer supply on the international market, the fertilizer price fluctuated frequently according to the fluctuations of the world price, as well as the erratic import source. This made farmers and businesses trading in fertilizers are adversely affected when the price went up and down. When the price “fevered”, the farmer suffered damage, and when it "freezed", businesses got loss, bankrupt ...

In that condition, the birth of Phu My Fertilizer Factory (officially inaugurated in December 2004) organized, managed and operated by the PetroVietnam Fertilizer and Chemicals Corporation, (PVFCCo) was a right policy, which is especially important for agriculture, rural areas and Vietnamese farmers, a radical solution to change the above situation.

Phu My Fertilizer Factory.

Fertilizer products of Phu My Fertilizer brand for bumper crops appearing on the market at the time had met nearly 40% of the country's nitrogen fertilizer demand. It has fundamentally changed the situation of supply and demand and fertilizer market, contributing to significantly reducing the dependence on imported goods, reducing “fevers” caused by speculation and external influences, contributing to stabilizing the domestic market, helping the source of materials in agricultural production stable.

Over two decades of development, PVFCCo has constantly improved the capacity of production, business and corporate governance, becoming a leading enterprise in Vietnam's fertilizer industry. Currently, PVFCCo operates 2 modern factories with the capacity to produce about 1 million tons of fertilizer per year, holding the No. 1 position in the fertilizer industry in terms of market share, competitiveness and brand value ...

For the past two decades, PVFCCo has produced and supplied for the agriculture tens of millions of tons of fertilizer, bringing a profit of VND 30 trillion, contributing to the State budget of more than VND 6 trillion. PVFCCo successfully built a wide distribution netword with thousands of distributors at all levels to bring fertilizers to farmers in all parts of the country in time of crop. Thereby, PVFCCo has contributed directly and effectively to the Government's macro regulating policy, stabilizing the market and curbing inflation.

Especially in recent years, PVFCCo has also promoted international business development. From an urea importer, so far, Vietnam has gradually been named on the ure export map where the Dam Phu My brand is outstanding.

PVFCCo has always explored, researched and invested to create high quality fertilizer products.

With the slogan “For bumper crops”, from the day of starting operation PVFCCo has always explored, researched and invested to create high quality fertilizer products, contributing with farmers to create the bumper crops. From the single product of ure at the beginning, so far, PVFCCo has a quite comprehensive range of fertilizer products including Phu My Nitrogen, Phu My Potassium, diverse formulas of Phu My NPK. And the company continues to produce new products such as Kebo nitrogen or most recently, microbiological organic NPK - the first inorganic fertilizer product line containing useful microorganisms on the market. This new product is also the way PVFCCo shows their understanding and practical sharing with farmers in the context of increasing agricultural production costs, as well as the business philosophy that PVFCCo steadily pursues which is the interest, social responsibility and sustainable value for customers.

PVFCCo has always played a leading role in performing social and community responsibilities

Along with the task of production and business, PVFCCo has always played a leading role in performing social and community responsibilities. Over the past years, the company has spent more than VND 1,000 billion for social security. Thanks to that spirit of responsibility and sharing, thousands of gratitude houses, hundreds of health, cultural, educational and transportation works have been built throughout rural areas, and tens of thousands of difficult lives have been helped by PVFCCo ...

Where people suffering difficulties such as natural disasters, floods and crop loss, or encountering uncertainties in life, PVFCCo came in time to encourage, share and support them. As in 2021, when COVID-19 pandemic was raging, PVFCCo, on the one hand, helped ensure safe, continuous and effective production and business operation. On the other hand, it actively implemented many programs to support the anti-pandemic front forces, families seriously affected by COVID-19 pandemic, and orphaned children with unfortunate parents dying of COVID-19 etc. Of which the most remarkable is the program "Spring of love - Tet of sharing" was conducted by PVFCCo in 50 provinces and cities across the country. A total of about 20,000 gifts were awarded through this program, contributing to help many families to stabilize their post-pandemic life.

The achievements that PVFCCo has obtained for the past years have affirmed its role and position in Vietnam National Oil and Gas Group and in the country's economy, being praised by the Party, the State and the Government and trusted by farmers. PVFCCo deserves being the "eldest brother" of Vietnam's petrochemical industry.

With the vitality and strong bravery of a business after two decades of growth, on the next development path, with the planned development strategy and specific, clear solutions, plus constant effort and high determination of all leaders and employees, PVFCCo is confident to continue to achieve greater achievements, contributing positively to the cause of economic and social development in general and for Vietnamese agriculture in particular.