Reporting to the leaders of the Vietnam National Oil and Gas Group (Petrovietnam) on the business performance in the first five months of 2025, a representative of the Petroleum Fertilizer and Chemicals Corporation (PVFCCo – Phu My) shared that despite the challenges of rising gas prices, unfavorable exchange rates, and market volatility, the corporation maintained stable production, effectively reduced costs, and upheld the reputation of the Phu My brand in the market.
Specifically, in the first five months of 2025, PVFCCo – Phu My achieved the production and business targets set by the Group, saving production costs of VND 123 billion (reaching 50% of the annual plan), including energy savings of VND 113 billion.
Comparing the results to the Management Plan 529, urea production reached 377,687 tons (101% of the target), while NPK production attained 88,942 tons (135% of the target). Financial indicators also surpassed targets by 30-91%.
Mr. Le Manh Hung, Chairman of the Members’ Council of Petrovietnam, highly appreciated and commended the efforts of PVFCCo – Phu My. He acknowledged the company’s swift actions in stabilizing its organization, fostering unity among its staff, and effectively carrying out production and business activities.
Notably, in the first five months of 2025, PVFCCo – Phu My was one of the few units to surpass the management plan set by the Group. Mr. Le Manh Hung attributed this success to the determined leadership and dedicated efforts of the entire system.
However, the Chairman also emphasized that 2025 is a pivotal year, marking the conclusion of the 2020-2025 term and the foundation for the 2025-2030 strategy. To sustain this momentum in the coming years, PVFCCo – Phu My needs to address several long-term strategic issues. This includes innovating its business model by incorporating advanced technologies and developing new products.
Mr. Le Manh Hung suggested that PVFCCo – Phu My comprehensively reassess its strategy in the new context, focusing on market, raw materials, products, core technology, and industry value chains. He emphasized the importance of identifying core competencies and developing plans for new product lines. Additionally, the corporation should aim to shorten plant maintenance periods while ensuring absolute safety at all facilities. Mr. Le Manh Hung also encouraged the corporation to leverage new mechanisms to enhance research and technological innovation.
Furthermore, he proposed the development of a resolution on the Phu My corporate culture to promote sustainable and efficient growth. The strategic direction, he asserted, must align with Petrovietnam’s overarching goal of achieving a minimum revenue growth of 8%, with PVFCCo – Phu My aiming for a minimum revenue of VND 16,000 billion in 2025.
Mr. Nguyen Xuan Hoa, Chairman of the Board of Directors of PVFCCo – Phu My, expressed his sincere gratitude to the Chairman of the Members’ Council of Petrovietnam and the leadership and specialized departments of the Group for their close guidance and concrete directions. He regarded their insightful analyses, suggestions, and profound observations as invaluable assets for the corporation to comprehensively re-evaluate its performance and development strategy.
Mr. Nguyen Xuan Hoa affirmed that, based on the Group’s directions and orientations, PVFCCo – Phu My would definitely make appropriate strategic adjustments, focusing on identifying the core elements to guide its sustainable development in the next phase.
The Chairman of the Board of Directors of PVFCCo – Phu My also expressed his hope that the Group would continue to trust and accompany the corporation. He assured that the unit would uphold its traditions, learn from its developmental journey, and foster unity to successfully accomplish the 2025 plan. Additionally, he emphasized that the successful realization of the 2025 targets would lay a solid foundation for PVFCCo – Phu My to enter the new development phase of 2026-2030 with greater confidence and proactiveness.
The Only Enterprise in Vietnam with Assets Exceeding VND 1 Quadrillion: Despite Holding Over VND 400 Trillion in Deposits, Profit for 2024 Unexpectedly Drops by VND 10 Trillion
As of now, excluding banks, PVN remains the sole enterprise with assets surpassing the monumental threshold of 1 quadrillion Vietnamese dong.
“Reinforcing the Board of Directors: A Strategic Move by DPM”
On May 29, PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo – Phu My, HOSE: DPM), successfully conducted an extraordinary virtual Annual General Meeting (AGM) for the year 2025. The main venue was the Corporation’s headquarter, located in District 1, Ho Chi Minh City.
A New Name, A New Vision: Petrovietnam’s Strategic Pivot in the Energy Evolution
“The renaming of the Vietnam Oil and Gas Group to the Vietnam National Industry-Energy Group marks a strategic turning point, reflecting ambitious aspirations but also posing significant challenges in the journey of transformation. This evolution in development model signals a pivotal moment for the organization, as aptly noted by Mr. Le Tho Binh, Vice President of the Vietnam Digital Communications Association.”
Two Enterprises Make an Impression: One Sets a Record of Consecutive Years!
These are two of the leading enterprises in Vietnam today.
The Hidden Treasure: Unveiling Vietnam’s Billion-Dollar Asset.
This treasure trove is a veritable goldmine, bringing in billions for Vietnam.
