Through 20 years of development, PVFCCo has always maintained and promoted the core value system “Professionalism - Efficiency, Dynamism - Creativity, Professionalism - Sharing, Aspiration - Outreach”, through creating high quality products and services, actively contributing to the development of society, promoting the spirit of community building and environmental protection, thereby helping PVFCCo develop soundly and sustainably.
PVFCCo’s President and CEO undertakes the highest responsibility for the corporation’s environmental policies/issues.
PVFCCo has entered 2022 with considerable changes in the global political landscape. The world witnessed significant fluctuations in major economies together with a lot of loss and grief, followed by negative consequences affecting the people around the world. The Russia - Ukraine conflict made energy and agricultural product prices skyrocket, threatening the global supply chain; inflation in the US climbed to its highest level in 40 years. Interest rates also increased and the U.S. dollar appreciated, putting pressure on domestic currency while stock market moved down. Covid-19 pandemic, despite being controlled when almost people have been vaccinated, was still a long-term challenge for public health system.
Given that situation, PVFCCo has deployed appropriate response solutions, especially focusing on forecasting to effectively adapt to market fluctuations, grasping opportunities to break through, affirming its position as a leading enterprise in the industry, achieving impressive business performance with highest-ever profit, strongly increasing benefits for shareholders.
However, we are also aware and believe that, to maintain long-term profitability, by not only ensuring shareholder benefit but also ensuring stakeholder inclusiveness. Given that awareness, in 2022 PVFCCo set up task groups associated with sustainable development goals, connecting with the groups that benefit from employees, suppliers, customers, people and other vulnerable persons caused by adverse market fluctuations in recent years. Some typical targets/activities and achievements of PVFCCo in 2022 are as follows:
Ensuring safe, stable, efficient and economical operation of the system; continuing to perfect the lean governance on the principle of strict compliance with regulations on environment and sustainable development as prescribed by law:
In 2022, PVFCCo has fully promoted our advantages, opportunities and resources to improve production capacity and operational efficiency in all areas. Accordingly, all factories have been operating in a safe and stable manner, ensuring product quality. During the year, there have been no incidents related to safety, health and environment that may cause mishaps to people and production.
Maintaining a close connection in our system and implementing strategies and policies to cope with long-term pandemic, giving priority to digital transformation, accelerating application of information technology and ERP system:
Continuing to review and update pandemic prevention plans as recommended by Vietnamese agencies. At the same time, the Corporation set up a specialized department/special working group to prepare facilities, human resources and means to be readily respond to the pandemic circumstances.
Collectively deploying digital technology in business activities; deploying digital offices and increasing exploitation of information technology in order to improve the effectiveness of the Corporation’s governance. In 2022, the Corporation has established a functional department to take responsibilities for the digital transformation.
Completing and implementing the 5-year development strategy from 2021 to 2025, adapting in the long term for the next period while focusing on seeking a stable source of manufacturing materials to maintain productivity, consolidating the Corporation’s position as a leading enterprise in local market, expanding into overseas markets:
Based on the development direction to 2035 and the strategic vision to 2045 approved by the Annual General Meeting of Shareholders, PVFCCo has completed 5-year development plan and long-term development strategy.
Accordingly, the Corporation’s general long-term development goal is to maintain its position as the No.1 fertilizer manufacturer in Vietnam and expand to producing and selling basic chemicals and petrochemical products with the goal of positioning PVFCCo as a pioneering chemical and green energy producer in Vietnam.
Building a professional team, while promoting the spirit of solidarity to overcome difficulties, willingness to sacrifice and dedicate with the policies in ensuring good physical and mental health, working conditions, and income for employees:
Apart from medium-term and long-term development strategy, PVFCCo continues to accelerate overall restructuring plans in terms of our operating model along with executing/perfecting employee policies, skills training, taking care and improving living standards with many supporting activities and cultural exchanges, creating a playground to improve spiritual and physical life for employees.
Sharing success - community responsibility: Typical community support and social security programs in 2022...
During the past years, social security activities have become a tradition and cultural beauty in PVFCCo’s great family. Inheriting that tradition, Trade Unions, Youth Unions, Veteran Associations, etc. have coordinated, connected and implemented many social security programs and projects to give direct support to the families entitled to enjoy numerous benefits from State policies and the families with difficult circumstances in countless localities across Vietnam.
The Corporation is well aware of challenges, disadvantages and negative impacts on sustainable development in both short-term and long term. With the mission of accompanying together to build a sustainable foundation for Vietnam’s agriculture, the growth goal in PVFCCo’s development strategy will be aligned with the goal of accompanying the sustainable development of the agricultural and rural development. That goal will ensure that the achievements in the development of PVFCCo will be shared by supporting the local community as well as exchanging knowledge and experiences to help farmers save costs, enhancing cultivation efficiency, improving incomes and living standards.
With the outstanding achievements that the Corporation has achieved in the past year, on behalf of the Board of Management, I would like to express my recognition of the spirit of dedication, cooperation and continuous efforts of PVFCCo’s collective towards the common goals. During the past year, we have witnessed many struggles and unpredictable changes. However, the most important thing is that we have been ready to change and adapt with a spirit of optimism and persistence. With that will and spirit, I believe that we will be able to do better and go further to create sustainable values for shareholders and the community.
President and CEO
LE CU TAN
The Corporation is a producer and distributor of fertilizer and chemicals. It is inextricably linked to agriculture, farmers, and rural Vietnam (the region accounts for 70 percent of the total population of Vietnam). In its development strategy, the Corporation considers sustainable development as its orientation, principle and core value. In the past 20 years of developing, the business orientation “developing the enterprise integrated with environmental protection and social responsibility” has been preserved and developed by generations of employees as an asset and a cultural beauty of the enterprise. The Corporation consistently pursues a balanced priority among goals and optimizes the execution thereof:
The Corporation has been acting in the interest of sustainable development, participating in society’s activities in order to successfully implement Vietnam’s strategic orientation toward sustainable development in particular, and the world’s counterpart in general. The Corporation has recently implemented the following principles and activities:
PVFCCo has built a culture of “Professionalism - Efficiency; Dynamics - Creativity; Aspiration - Outreach; and Responsibility - Sharing”, through a positive and professional work environment, fair employee policy and a friendly workplace. In particular, the achievements of PVFCCo are as follows:
Read moreThe Corporation provided customers with high-quality products, effective solutions and services as mentioned below:
Xem thêmProfit before tax
6,606VND billion
an increase of 74% compared to 2021
Total savings in 2022
229VND billion
reached 450% of the plan
In order to create products and services to maximize shareholder value, PVFCCo has carried out the following activities in 2022:
Read morePVFCCo has ensured that its business activities complied with the laws. PVFCCo has achieved the following results:
PVFCCo contributed to the state budget: VND 1,521 billion, which reached 206% of the 2021 plan, an increase of 91% compared to 2021.
PVFCCo CONTRIBUTED TO THE STATE BUDGET
1,521VND billion
91% compared to 2021
In working with strategic business partners, the principles and values applied were: Healthy competition, collaboration and advancing customer best interests.
The Corporation is committed to carrying out its responsibilities to the community and society.
Sustainable development along with environmental preservation and social responsibility is always the Corporation’s motto.
During the last year, the Corporation has continued to keep its commitment to environmental protection, by actively participating in the action programs promoted by the Government within the “National environmental protection strategy to 2030, vision to 2050” and “National strategy on climate change to 2050” to implement Vietnam’s commitments at the 26th Session of the Conference of Parties joining in the UN Framework Convention on Climate Change (COP26).
Read moreHowever, the Corporation has taken the advantages in 2022 to overcome all difficulties and complete the plan and the targets as set out. Accordingly, the 2022 plan for HSE activities has been completed with the results as follows:
Safety - Security, fire control and emergency response activities in 2022 have been completed as per the plan assigned by the Corporation’s management team.
The Covid-19 pandemic was complicated in the first quarter of 2022 and was then controlled effectively; therefore, the Corporate’s business and production as well as the employee healthcare have recovered. Healthcare and pandemic prevention activities during the past year have achieved the following outcomes:
In 2022, PVFCCo has implemented numerous social security activities, valued up to over VND 91 billion, including building 150 great solidarity houses; deploying 2 healthcare projects/programs, 17 educational programs, gratitude programs, etc.; and giving scholarships to poor students and so on.
In early October 2022, Storm number 4, the strongest in the last 20 years, has caused damage to people and property in the North Central provinces. Faced with that situation, PVFCCo has cooperated with the Red Cross Society in Nghe An Province to give emergency relief to the families with property damage and unfortunate families who have loss of loved ones to overcome financial difficulties, trying to return to normal life and restore production after natural disasters.
PVFCCo has distributed approximately 30,000 Tet holiday gifts, worth almost VND 20 billion, to individuals facing challenging circumstances in 50 provinces and cities throughout Vietnam. This initiative, which was launched during the Lunar New Year, has contributed to providing a meaningful Tet celebration and a fresh start to the underprivileged.
