Corporate structure and Human Resource Management
Governance
PVFCCo is a subsidiary of PetroVietnam, a State-owned GROUP. PetroVietnam holds 60% stake in PVFCCo. The remaining shares are held by local and foreign shareholders representing individual and institutional investors.
PVFCCo’s parent company and subsidiaries are set up as public joint stock companies, listed on Ha Noi Stock Exchange (HNX) and Ho Chi Minh Stock Exchange (HOSE) and have complied with regulations and governance standards for listed enterprises.
CORPORATE STRUCTURE
General Meeting of Shareholders
General Meeting of Shareholders
Board of Directors (BOD)
Board of Directors (BOD)
The current BOD consists of the Chairman, two full-time members, two independent members and the President & CEO.
Board of Supervisors (BOS)
Board of Supervisors (BOS)
The current BOS consists of the Head of BOS, one full-time member and one part-time member.
Board of Management (BOM)
Board of Management (BOM)
The Head of BOM is the President & CEO who is also a member of the BOD. The President & CEO is assisted by Vice Presidents. They are responsible for production, engineering technology, investment and construction, finance and accounting, sales and distribution network, research and development, legislation and internal affairs.
At the parent company’s headquarters, the Board of Management supervises functional divisions.
Dependent Accounting Units
Dependent Accounting Units
The branches, representative offices are located in other production and business locations
PVFCCo’s Branch - Phu My Fertilizer Plant: It is the Corporation’s production complex, located at Phu My 1 Industrial Zone, Phu My Ward, Phu My Commune, Ba Ria - Vung Tau Province: The complex has an annual production capacity of 540,000 tons of NH3, 800,000 tons of Urea and 250,000 tons of NPK.
Ho Chi Minh City Branch: This office deals with chemicals business.
Project Management Unit (Fertilizer and Petrochemicals): A subsidiary that manages key investments and development projects.
RELATED COMPANIES
In 2020, the Corporation has four subsidiaries and five associates.
Companies with over 50% shareholding
| NO. | COMPANY NAME | BUSINESS SEGMENTS | CHARTER CAPITAL (MILLION VND) | OWNED BY PVFCCo |
|---|---|---|---|---|
| 1 |
North PetroVietnam Fertilizer and Chemicals Joint Stock Company (PVFCCo - North, stock code: PMB)Address: 4th Floor, 167 Trung Kinh Street, Cau Giay District, Hanoi |
Fertilizer and chemicals production and trading | 120,000 | 75% |
| 2 |
Central PetroVietnam Fertilizer and Chemicals Joint Stock Company
|
Fertilizer and chemicals production and trading | 100,000 | 75% |
| 3 |
South-East PetroVietnam Fertilizer and Chemicals Joint Stock Company (PVFCCo - SE, stock code: PSE)Address: 27 Dinh Bo Linh Street, Binh Thanh District, Ho Chi Minh City |
Fertilizer and chemicals production and trading | 125,000 | 75% |
| 4 |
South-West PetroVietnam Fertilizer and Chemicals Joint Stock Company (PVFCCo - SW, stock code: PSW)Address: 151/18 Tran Hoang Na Street, Ninh Kieu District, Can Tho City |
Fertilizer and chemicals production and trading | 170,000 | 75% |
Companies with less than 50% shareholding
| NO. | COMPANY NAME | BUSINESS SEGMENTS | CHARTER CAPITAL (MILLION VND) | OWNED BY PVFCCo |
|---|---|---|---|---|
| 1 |
Dam Phu My Packaging Joint Stock Company (PVFCCo - Packaging, stock code: PMP)Address: Phu My 1 Industrial Zone, Phu My Town, Ba Ria - Vung Tau Province |
Packaging manufacturing and trading | 42,000 | 43.35% |
| 2 |
PetroVietnam Petrochemical and Textile Fiber Joint Stock Company (VNPOLY)Address: Lot CN5.5A, Dinh Vu Industrial Park, Dong Hai 2 Ward, Hai An District, Hai Phong City |
Textile fiber production and trading | 2,165,110 | 25.99% |
| 3 |
PetroVietnam Information Technology, Telecom and Automation Joint Stock Company (PAIC)Address: 4th Floor, 167 Trung Kinh Street, Cau Giay District, Hanoi |
Information technology, telecoms and automation, clean energy | 42,352 | 8.5% |
| 4 |
PetroVietnam Urban Development Joint Stock Company (PVC Mekong)Address: Lot D - Petroleum Urban Area, Ngo Quyen Street, Ward 1, Ca Mau City, Ca Mau province |
Consulting, construction, construction materials production, real estate trading | 280,869 | 35.63% |
| 5 |
Ut Xi Aquatic Products Processing CorporationAddress: Provincial Road 8, Tai Van Commune, Tran De District, Soc Trang Province |
Aquaculture, Seafood processing and trading | 354,000 | 6.78% |
ORGANIZATIONAL CHART
HUMAN RESOURCES MANAGEMENT
HUMAN RESOURCES IN 2020
The total staff of the Corporation as at 31 December 2020 (including parent company and subsidiaries): 1,529 employees
University, College and Postgraduate
1,017
employees
Vocational
116
employees
Technical and Others
396
employees
LABOR POLICY
In 2008, PVFCCo formulated, documented and implemented a new compensation and benefits package fitting a joint stock company in accordance with the Labor Code. This move was to encourage talent retention while attracting new talent. The payroll system has been reviewed and is in compliance with the law and aligned with the market realities. In 2015, the Corporation has completed and implemented the Key Performance Indicators (KPI) system and payroll based on the results of the assessment of performance and personal performance. Accordingly, the organization, management and staffing will ensure the rightness, science, the right people in the right job. As a result, it measures the capacity and performance of employees to make the salary and reward payment fairer and more accurate.
PVFCCo has Social Security, Health Insurance and Termination Benefits according to the Social Insurance Law and other Government regulations.
Although the HR Policy took effect in 1 January 2009, it has been revised annually taking into consideration the current conditions. It consists of employee welfare, remuneration scales, training and development funds, leisure benefits, employment practices and placement and even welfare schemes for skilled and qualified professional employees.
PVFCCo has formulated reward policies in recognition of skills sets. A tiered remuneration scheme is applied to specialists and several gradings for employees. These policies and schemes are directed at attracting and retaining talents who have professional knowledge and skills. Senior specialists have similar remuneration to senior management of PVFCCo and its subsidiaries. To date, PVFCCo has recognized 25 specialists in their fields of expertise.
Training and development of human resources have always played a very important role in production, business and sustainable development. The Corporation has paid great attention to and developed mechanisms, policies and regulations for scientific training which encourages staff members to improve their professional qualifications.
In 2020, the pandemic also brought challenges in the organization of training courses. Some training institutions suspended face-to-face courses. The Corporation encouraged employees to participate in online courses and implement self-study methods.
Internal training is always considered to be the most effective training method. The Corporation has continued to promptly organize training courses and disseminate new articles from the Labor Code, Enterprise Law and the amended Investment Law to employees. This has not only helped to maintain and raise their expertise, but also to operate the Phu My Fertilizer Plant safely and effectively, while mastering the sales and distribution system. Employees are ready for any changes in the Corporation's operation situation.
