ANNUAL REPORT 2021

Plant operators and the Company’s leaders at quarantined rooms/workshops

At workshops and Ca Mau Fertilizer Plant, Covid-19 prevention measures have been implemented more strictly than ever

Covid-19 prevention at the main gate of Ca Mau Fertilizer Plant

At PVCFC, operation is always not separated from inspection and supervision which are conducted quarterly to actively review and assess potential risks and timely give out exact solutions. The Company has concretized risk control by issuing and applying KRI which is a basis for monitoring and giving warnings the possible risk in an exact and effective manner. Engagement will create deep understanding. PVCFC has promoted the advantage of IT to successfully research and develop its own risk management software which was initially put into use in the first quarter of 2020. This has shown the grown and strength of the Company’s corporate governance.

Risk management has become an essential part of PVCFC’s operation. Promoting the available achievements, we will continue to build risk management system according to COSO-ERM in a comprehensive and consistent manner in line with risk culture and strategy which helps our leaders to focus on building policies, determining central point and operation mechanism, improving risk measurements and fostering risk management responsibility. In addition, we accelerate solutions to identify potential risks, change portfolio and are ready to response risk circumstances in entire system.

In 2022, PVCFC will continue to complete risk management system with major duties as follows: