In the period of 2020-2025, PVFCCo-Phu My's production output of Urea and NH3 in each year exceeded the plan.
The period of 2020-2025 is a period of many ups and downs for PVFCCo. In addition to the negative impact of the global economic recession, the COVID-19 pandemic, and increasingly complicated natural disasters... Phu My Fertilizer Plant has affected a long period of operation, facing great maintenance pressure, while the value-added tax policy on fertilizer production and trading has not been adjusted appropriately, significantly affecting the business's operating efficiency.
With the attention of the Party Committee and the Board of Directors of Petrovietnam , the collective of cadres, party members and employees of PVFCCo-Phu My has promoted the spirit of solidarity, dynamism, creativity, overcome difficulties, and comprehensively completed 14/14 targets set out in the Resolution of the 4th Party Congress of the Corporation, term 2020-2025.
In particular, important financial indicators at the end of the term all recorded double-digit growth compared to the beginning of the term. specifically, total assets increased from VND 11,828 billion to VND 17,944 billion, equivalent to an increase of 39%; equity increased from VND 8,291 billion to VND 11,532 billion, equivalent to an increase of 52%.
Effective production and business, investing in developing many new products
PVFCCo Party Committee has devoted special and consistent leadership and direction to the core political task of production and business, in parallel with promoting investment and construction to expand production and business, diversify products, and ensure the goal of sustainable growth and development.
organized, the Factory has organized safe, stable and effective production; especially during the COVID-19 pandemic, in addition to ensuring the health of workers, production activities have been maintained continuously at high capacity. Urea and NH3 output has exceeded the plan every year.
The operating team has completely mastered the most modern chemical technology NPK production line in Vietnam, continuously coming up with many initiatives and ideas, rationalizing production, diversifying the product portfolio from 3 formulas according to the original design (FS) to nearly 30 formulas, continuously improving product quality, meeting market demand.
PVFCCo has been expanding investment, developing and diversifying products in both the direction of development and improvement from existing production and products to investing in building new workshops and factories.
The Corporation has completed construction, put into operation and finalized the NH3 workshop and NPK plant upgrading project complex; prepared to implement chemical production projects such as: H2O2, DEF and Offgas recovery...; continued to research investment opportunities for a number of new fertilizer and chemical projects such as: H2SO4 production project, Melamine project... The total disbursed value of investment in basic construction and procurement is estimated at 1,018 billion VND, equivalent to 205% of the entire term target.
To diversify fertilizer products, PVFCCo has researched and launched new products, launching the market.
In 2020, Phu My Fertilizer + Ke Bo was developed from the traditional urea product Phu My Fertilizer, with the addition of necessary micronutrients such as Boron and Zinc, helping to increase the resilience and resistance of crops, increase the flavor and quality of agricultural products. Next is Phu My NPK + microorganisms (inorganic NPK supplemented with beneficial microorganisms, both improving the soil, increasing fertilizer efficiency, and being environmentally friendly).
Since 2022, Phu My has launched a high-end Phu My fertilizer product line, specialized for urban agriculture - Phu My Garden, meeting the criteria of "Convenient - Safe - Classy". For the chemical sector, PVFCCo has successfully upgraded the NH3 plant, supplying 80-90,000 tons/year to the market; at the same time, actively developing new products.
Regularly during the 5-year term 2020-2025, PVFCCo researched and launched new products, emerging the market, especially the high-end Phu My fertilizer product line, specialized for urban agriculture.
Phu My fertilizer products with new identity
Initiatives, ideas, and production rationalization to optimize operations, reduce consumption of raw materials and energy, as well as improve business performance, management and market development... have become highlights during the term. In the past 5 years, PVFCCo has recorded 656 initiatives and production rationalization, 1,589 ideas were recognized, bringing in a value of profit (only in the first year of application) of up to 284 billion VND, contributing to promoting the spirit of creativity and surpassing oneself, which is extremely important in a business with more than 2 decades of operation.
Thanks to the synchronous efforts in implementing political tasks, during the 2020-2025 term, Phu My produced more than 5.06 million tons of fertilizer and 397,000 tons of chemicals, reaching 101% and 127% of the plan, respectively. Consumption output reached more than 6.26 million tons of fertilizer and more than 635 thousand tons of chemicals, reaching 101% and 111% of the plan, respectively.
The total revenue of the Corporation exceeded the target by 136%, the consolidated pre-tax profit was more than 7 times higher than the assigned plan, thereby contributing to the state budget up to 3,726 billion VND, exceeding 423% compared to the resolution target of the term. The Corporation and its products also received important domestic and international titles and awards such as: National Brand, Top 50 famous titles, High-quality Vietnamese goods...
Average income of employees reached 32.5 million VND/person/month, exceeds 51% compared to the target set by Resolution of the 4th Congress, continuing to affirm a stable, attractive and humane working environment.
PVFCCo Party Committee and Board of Directors always identify recreating corporate culture as one of the key tasks, closely linked to the goal of ensuring stable employment and constantly improving the material and spiritual life of employees.
Strongly innovate the work of Party building and political system
PVFCCo Party Committee has directed the drastic implementation of enhancing innovation in leadership methods, improving the capacity and efficiency of Party committees at all levels. At the same time, build a scientific working style; issuing concise resolutions, close to the situation and task requirements; innovating the method of organizing learning, thoroughly grasping resolutions, and political activities in online form.
Regarding personnel work, the Party Committee of the Corporation issued specific regulations and instructions, effectively implementing the work of mobilizing, rotating and planning cadres; creating conditions for promising young cadres and cadres in the planning area to be trained in practice; with the proud results achieved, along with political determination in the spirit of
Entering the 2025-2030 term, in the context of the country's strong transformation, the development model changing towards streamlining, efficiency, green economy, digital and circularity being promoted, along with the new VAT policy for fertilizers and Petrovietnam's change of identity to Vietnam National Industry-Energy Group, PVFCCo faces many new development opportunities.
Inheriting lessons from flexible management, especially "fluctuation management," PVFCCo has a solid foundation to proactively adapt, effectively exploit resources, maintain stable production and business and make breakthroughs.
On that basis, the PVFCCo Party Committee determined the general goals for the new term as: improving leadership capacity, promoting solidarity and creativity, building a stable and sustainable development of the Corporation; maintaining the leading position in fertilizer production and business and gradually expanding the chemical sector.
At the same time, the Party Committee also sets out specific targets for production and business tasks and building the Party organization and political system with growth targets, demonstrating the determination and development aspirations of the entire Party Committee.
Linh Dan
Source: https://baochinhphu.vn/pvfcco-phu-my-hoan-thanh-toan-dien-chi-tieu-nghi-quyet-dai-hoi-iv-102250707165209335.htm
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