Production operation

The Plant maintained safe operation with average capacity of 109.39% (Calculating based on capacity of Urea workshop). On 06 October 2021, Ca Mau Fertilizer Plant reached the capacity of 8 million tons per day after more than 9 years of commercial operation.

Total productive maintenance (TPM) in 2021 took place in extremely special conditions. To be specific, the plan of machine termination for maintenance was changed three times; the procurement faced many challenges due to pandemic outbreak; foreign experts could not be mobilized and it was difficult to find domestic contractors. However, thanks to initiative in preparation and highly skilled plant personnel, the Company has completed TPM objectives. The TPM was carried out in November 2021, with 2,171 items, in 13.4 days (including the time to stop and restart the Plant) and produced NH3 and Urea products in 50.5 hours and 6 hours prior to schedule.

This is a new step in self-controlled maintenance towards implementation and development of maintenance services according to strategic goals.

In particular, optimization is a strength of the team of plant engineers and workers. During the year, PVCFC has accelerated optimization program, including the items already completed in TPM and in the process of recording efficiency evaluation data such as collecting hydrogen in off gas stream to increase NH3 production; increasing the capacity of heat exchanger E04301; and recalling MP vent gas in Urea plant. In addition, the items under construction such as optimizing cooling water system, optimizing LTS operation to increase NH3 output, renovating and importing liquid NH3 for Urea production, installing coalesce filter at gas distribution assembly, and renovating hydrogen recycle supply system and expected to be put into operation in 2022.

Business, marketing and communications management

When Covid-19 pandemic widely broke out in HCMC and Southern provinces in April 2021, some cities/provinces have posed social distancing measures, travel restrictions which had big impacts on product consumption and left ports, warehouses short of workers, difficulties in fertilizer transportation and circulation had negative impacts on product consumption need. Facing these challenges, PVCFC has implemented business solutions to adapt with the pandemic, ensure smooth production consumption and contribute to market stabilization, specifically:

By expanding distribution channels, investing and developing B2B channels toward key customers including farms, agricultural production enterprises, etc. have shown that market expansion and change of distribution types to Tier 2 agents have gained good results.

Renew approaches to reach target customers in consumption of NPK products and micro-organic products toward strong investment on end-customers instead of concentration on distribution channels based on digital platform for business, marketing and communication activities.

Maximize digital platform applications on sales and marketing communications in the context of Covid-19 pandemic outbreak, conduct non-touch based interactions with customers. The digital platforms such as ERP, Eoffice, DMS, CRM and “2 Nông” App, etc. have been playing a positive role in maintaining smooth business and marketing communications activities in a cost-efficient manner.

Investment and construction

The Covid-19 pandemic outbreak in 2021 has caused difficulties for the Company to implement investment projects as well as attract experts and contractors, however, with ceaseless efforts in connecting with Copyright Office to begin remote tests on “molten Urea-based complex fertilizer production project with a capacity of 300,000 tons/year”. And when social distancing measures were eased, the Company has completed necessary procedures for the Copyright Office to visit Vietnam. The project is now under acceptance process. Besides, projects implemented in 2021 have shown positive changes:

  • Progress of converting and supplying raw CO2 at Ca Mau Fertilizer Plant has reached 96.30%/97.47%, the Company is now taking final steps of construction and preparing for putting into trial operation.

  • PVCFC’s Research and Development Center: with hi-tech agricultural development as its strategic orientation and providing nutritional solutions for plants, PVCFC has allocated a land plot in Long An province to build a Research and Development Center. Long An Department of Planning and Investment is now completing procedures for approval of investment policy.

  • Projects under material diversification strategy: “Coal gasification factory project” is under evaluation of investment opportunity with Ca Mau Fertilizer brand as its business strategy to conduct tests and market research before making investment decision.

  • Apart from diversifying products and expanding factory scale, demand of storing material and products also keeps increasing. Therefore, the Company is seeking sites for a wholesale warehouse in the Mekong Delta region, upgrade and expand warehouses in the plant for seasonal inventory during low-season to ensure continuous production.

PVCFC always takes initiative in carefully reviewing and evaluating all investment projects, procurement items before implementation to ensure necessary steps, reasonability and orders of priority as well as optimal capital structure.

Leaders of Ca Mau Province, Vietnam National Oil and Gas Group and of PVCFC at a completion ceremony for Ca Mau NPK Plant

Other activities
  • During Covid-19 pandemic outbreak in 2021, PVCFC has adapted to “live with the pandemic”, minimized impacts of social distancing measures causing supply disruptions thanked to well-prepared technology platforms: Eoffice, electronic signature, digital process, SAP ERP system providing data visibility needed to improve quality of report, analysis and governance, it is the central system to connect with other systems such as HRM, DMS, Eoffice, MIS/MES; platforms like DMS, CRM, “2 Nông” App, etc. have promoted their positive roles in ensuring smooth business and market communications activities on a cost-efficient manner.
  • Strengthen the Company’s governance capacity, establish Project Co-ordination Board to carry out IFC’s recommendations:
  • Create financial statements and governance report compliance with International Financial Reporting Standards (IFRS), governance of R&D and intellectual properties, risk management, etc. to enhance competitiveness, attract investors and improve corporate value.

Corporate culture is a foundation for PVCFC to overcome challenges caused by Covid-19 pandemic. After five years of implementation of the project of “Building PVCFC’s corporate culture” from basic culture based on “7 habits of highly effective people”. In 2021, the Company has conducted preliminary review of 5 years of implementation of the project of “Building PVCFC’s corporate culture”. Basically, PVCFC has completed a set of cultural identities and is now focusing on putting these cultural identities into life. In 2021, the Company has organized online sharing sessions of the company’s leaders on PVCFC’s culture handbook, sharing the Company’s visions, strategies and 4 core values, connecting common goals and contributions of employees based on the Company’s development criteria; organizing sessions to sharpen “7 habits of highly effective people”; making a cultural handbook video & organizing Elearning training courses, etc.

On 5 December 2021, PVCFC was recognized as typical enterprise in construction and implementation of corporate culture, sustainability, code of business ethnics and social responsibility.

The Company has prepared necessary works to improve capital efficiency and asset value: complete information of PVCFC for announcement, attract foreign investors on digital platform; seek potential investors through foreign advisors; build development goals and action plans till 2025 in line with economic changes post-Covid-19 pandemic, energy transition and digital transformation, etc. to enhance competitiveness and market value of PVCFC as a premise for new development phases, attract investors, implement divestment of PVN holding 51% of charter capital.

Implement the company’s development orientations and strategy to diversify products and services, research and development activities in 2021 mainly focused on:

  • Successfully conduct research for new product (N46.True) on plants (sweet potatoes, potatoes, corn), complete field-based agronomic evaluation on ability to keep plants from falling over and keep plant trunks healthy, etc. The Company has produced and put these plants on business trial since February 2022 to evaluate market evaluation rate.
  • Do research on additional products, bacterial strains to enhance phosphorus solubilization, solubilize iron and aluminum bound phosphorus into chemical fertilizer; microorganisms decomposing organic residues in rice field; salt tolerant microbes. These research themes have been tested and expected to put into pilot scale production.
  • Continue to do research and completion of industrial scale production process of beneficial microorganisms and fermented organic fertilizers from animal by-products on farming/processing, fisheries, animal husbandry; conduct research on nutritional fertilizers for fruits (mango, durian, pomelo, jackfruit) grown in Dong Thap Muoi - an ecological protected area with characteristics of acid sulfate soil, conduct tests and experiments at PVCFC’s experimental farms for efficiency evaluation.
  • In 2021, PVCFC has built a long-term R&D Strategy, conducting product research and development toward diversification of NPK fertilizer products, organic mineral, organic microorganisms and high-quality fertilizers in line with the company’s strategic orientations.

PVCFC has synchronously and flexibly implemented optimal solutions to improve energy efficiency and plant performance, doing a good job in cost management and product cost management through assigning detailed cost plans to each department/unit as a foundation for monitoring and evaluation of cost planning.

Total savings from cost management/reduction in 2021 reached VND 132.51 billion, equal to 169% of the plan, of which VND 111.23 billion came from energy and material efficiency, VND 20.07 billion came from management, sales and production activities, VND 1.21 billion came from construction and investment management.





In 2021, PVCFC has trained a total of 4,350 people, equal to 165% of year plan. The Company has implemented skill development training courses and continuous learning programs to support laborers to be fully equipped and updated professional knowledge and self-development. Besides, on purpose of improving competitiveness and adaptation to unpredictable economic changes post-Covid-19 pandemic, PVCFC has strengthened training courses, seminars, Vietnam-Singapore Senior Governance Forum, energy transition, digital transformation, corporate governance compliance with the best practices, legal issues in business, risk management, R&D governance and intellectual property, local documents, etc. to enhance performance management and governance capacity

Till end of 2021, PVCFC has total of 1,022 employees, 23 lower than 2021 plan and a slight increase as of end of 2020 due to request of additional staff to technical and production divisions, while sales staff were transferred to other professional divisions, units and production plants.

Salary: PVCFC deploys a policy of paying salaries, bonuses, benefits and other remunerations in compliance with provisions of the Laws, the Group and the Company to ensure proper work-life balance for employees. Besides, PVCFC is updating and adjusting regulations on salary, bonus and remuneration, new policy on employee to create motivation and equality for all employees, consider job description salary range.


Pursuant to the Company’s Charter and Corporate Governance, the Board of Directors supervised the activities conducted by the General Director and members of the Board of Management in operating the Company’s production and business as well as implementing resolutions of the General Meeting of Shareholders and ones of the Board of Directors in 2021. Details are as follows:

Supervision method
  • Supervising the production planning process in 2021 and the implementation of those targets approved by the General Meeting of Shareholders.

  • Attending periodical meetings of the Board of Management on the Company’s business and production performance and holding quarterly progress meetings in order to promptly support and ensure the effective operation of the Board of Management, the assisting apparatus for the Board of Management, and a representative in the enterprise that the Company contributed capital in.

  • In addition to individual thematic meetings with the Board of Management and supervisors of some departments, the Board of Directors also has real-time inspection and supervision to grasp the actual situation of the Company’s business through the Audit and Risk Management Committee, the Internal Audit Committee, and coordinate with the Supervisory Board. Furthermore, the Board of Directors has supervised and discussed with independent audit firms during the audit and appraisal of financial statements in accordance with prevailing regulations.

Supervision results

The Board of Directors assessed that the Board of Management had successfully completed its role of operating the Company’s production and business, successfully completed the assigned targets in 2021, specifically as follows:

Managed and operated the Company’s production and business with a high sense of responsibility, ensuring compliance with the Resolution of the General Meeting of Shareholders, the direction of the Board of Directors, complying with the processes and regulations in operating the Company in accordance with its Charter, Corporate Governance regulations as well as relevant laws.

Constantly improved professional and modern management capacity, gradually completing management tools from production, financial management, to risk management, and strategic management.

The implementation of strategic goals has continued to be carried out methodically according to the roadmap with specific solutions and always be ready to prepare for adverse situations or future risks.

Regularly reviewed and evaluated investment projects in details, promptly provide solutions to ensure projects are implemented safely, timely, with high quality and efficiency.

Based on the results achieved in 2021, the Board of Directors has summarized, discussed and evaluated that despite difficulties due to the impact of the Covid-19 pandemic, the General Director and the Board of Management have made great efforts and well performing the assigned tasks in 2021, strictly complying with the prevailing legal regulations and the Company’s governance. In particular, the Board of Management has successfully managed the production and business, ensured employment, employee’s health and safety, and done business with high responsibility to related parties.


In 2022, because of the complicated progress of the Covid-19 pandemic, high oil prices, fierce competition between domestic fertilizer manufacturers and importers, slow recovery of the global supply chain, PVCFC’s Board of Directors has determined the key tasks to be performed during the year as follows:

  • Continue to operate Ca Mau Fertilizer Plant effectively, safely, and optimize capacity.
  • Continue to follow research orientation to diversify sources of materials and fuel for Urea production to increase flexibility, initiative and sustainability in its production and business.
  • Direct the operation and efficient exploitation of the Ca Mau NPK Plant, meeting the fullest extent of market demand.
  • Continue to promote digital transformation.
  • Promote effective and strategic investment projects.