Changes in the 2024
Sustainability Report
2024 marks the second year that PVCFC has published a separate Sustainability Report. Alongside positive transformations in sustainable development practices, this report features several key enhancements compared to the 2023 edition, specifically:
Reference to SASB Industry Standards
In addition to GRI and SDGs, the report now references the Sustainability Accounting Standards Board (SASB) standards for the chemicals industry (RT-CH 2023-12 edition). This represents a significant distinction from the general approach to sustainability reporting in Vietnam.
Enhanced Report Assurance
Beyond maintaining limited independent assurance by Deloitte on Workforce, Energy, and Water Consumption as in 2023, this year’s report includes additional assurance on:
- Scope 1 and 2 GHG emissions and emission intensity are assured by Deloitte.
- Training and social welfare indicators are assured by Internal Audit.
- Scope 1 and 2 GHG emissions are implemented with consultation from Bach Khoa Energy Saving Joint Stock Company (for PVCFC) and Vietnam Technology Solutions Joint Stock Company (for KVF).
Increase number of quantitative targets
In addition to the target of reducing energy consumption by 5% by 2025 compared to 2022, PVCFC has set a new goal of reducing GHG emissions intensity per ton of urea product by 1% (2030 vs. 2024). The determination of the targets is based on calculating the impacts of the energy-saving and emission-reduction initiatives that PVCFC is currently implementing and will implement in the future.
Climate Change Mitigation Roadmap Disclosure
Based on the reliable implementation of the greenhouse gas (GHG) emissions inventory conducted by a specialized consulting firm, PVCFC has designated 2024 as the baseline year for its emission intensity reduction target by 2030. With this baseline, PVCFC has also announced a roadmap and key milestones to achieve this goal.
Improved Information Disclosure Quality
The report’s contents are disclosed in greater detail and with more complete information, such as Chemical management, Research and develop product. In particular, climate change-related information has included a description of risks and opportunities, and a description of how to manage, exploit opportunities and respond to risks is presented more clearly and fully.
Inclusion of KVF Data in Consolidated Figures
KVF data will be incorporated into the consolidated figures for a nine-month period (from April to December 2024, following PVCFC’s acquisition of KVF).
Sustainable Supply Chain
PVCFC's 2024 Sustainability Report has outlined several sustainability criteria to evaluate suppliers. The report also provides information on the number of suppliers evaluated.
Detailed Data Disclosure
PVCFC's 2024 Sustainability Report has been enhanced with numerous quantitative indicators, aiming to increase transparency and the measurability of results. This change helps the information to be presented more specifically and clearly compared to last year. Consequently, readers can easily monitor progress and objectively assess performance.
The detailed data is presented in the appendices of this report.
Overview information
GRI 2-1
PETROVIETNAM CA MAU FERTILIZER JOINT STOCK COMPANY
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Company name:
CÔNG TY CỔ PHẦN PHÂN BÓN DẦU KHÍ CÀ MAU
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English name:
PETROVIETNAM CA MAU FERTILIZER JOINT STOCK COMPANY
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Abbreviation:
PVCFC
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Charter capital:
5,294,000,000,000 VND
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Business registration certificate number
2001012298
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Website:
www.pvcfc.com.vn
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Headquarter
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Address
Block D, Industrial Zone Ward 1, Ngo Quyen Street, Ward 1, Ca Mau City, Ca Mau Province
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Phone
(84 - 290) 3.819.000
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Fax:
(84 - 290) 3.590.501
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Representative office
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Address:
173-179 Truong Van Bang Street, Thanh My Loi Ward, Thu Duc City, Ho Chi Minh City
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Phone:
028.2208.5555

STOCK CODE:
The process of formation and development
In 2008, The Ca Mau Fertilizer Plant Project - one of the most important links in the Ca Mau Gas – Electricity - Urea Project Cluster officially commenced construction at the southernmost tip of the country, bearing a great mission for the development of national agriculture.
From the early days of its establishment until now, after more than a decade of hardship to mature “MORE SUSTAINABLE - MORE PROSPEROUS”, PVCFC has increasingly affirmed its position as a leading brand in the field of fertilizer production and trading nationwide, contributing to ensuring food security and enhancing the value of Vietnamese agricultural products. The journey of more than a decade in building and developing PVCFC is a glorious journey with many proud historical milestones.
Ca Mau Fertilizer Plant officially commenced construction.
PetroVietnam Ca Mau Fertilizer Limited Company (a subsidiary of the Vietnam Oil and Gas Group) was established on March 9, 2011.
- The company’s first commercial product, “Dam Ca Mau - Golden Harvest”, was launched on January 30, 2012.
- The company achieved a production volume of 500,000 tons of Urea after 10 months of operation.
PVCFC received two important awards: “Vietnam Gold Star Award” and “Outstanding Agricultural Product”. The production volume reached 1 million tons of Urea after 15 months of operation.
- On November 12, 2014, PVCFC successfully conducted an IPO with 128,951,300 PVCFC shares being fully sold, making it the largest IPO in 2014.
- PVCFC was officially recognized as a National Brand.
- PVCFC transitioned to a joint-stock company model, and was listed on the Ho Chi Minh Stock Exchange with the stock code DCM.
- The premium fertilizer product line N.HUMATE+TE was officially launched.
- The production volume reached 3 million tons of Urea after 4 years of operation.
- PVCFC received the Second-Class Labor Order.
- Two premium functional product lines were launched: N46.PLUS and N46.NANO C+.
- The production volume exceeded 4 million tons of Urea after 5 years of operation.
- PVCFC was honored in the Top 500 Largest Enterprises in Vietnam.
- The company officially distributed a set of 7 superior products that provide a complete range of nutrients for crops.
- The “Experience the High-Tech Products” program was first introduced to cooperatives and farmers.
- Urea production volume reached the 5 million tons milestone. Sales volume increased significantly for the first time.
- Self-sales exceeded the plan by 10%.
- PVCFC was awarded the “Prestigious Export Enterprise” title.
- PVCFC was honored in the Top 100 Sustainable Enterprises in Vietnam in 2019.
- A production record was set, reaching the target 36 days early with a total volume of 870,000 tons, reaching the 6 million tons Urea milestone.
- The DMS system was officially operated, helping to digitize business transactions.
- The brand was expanded from “Dam Ca Mau” to “Phan bon Ca Mau”.
- Awarded the Vietnam National Brand Award 2020.
- Revenue reached a record of VND 7,700 billion. Export volume reached a record of over 300,000 tons, reaching the 7 million tons Urea milestone.
- Celebrating the 10th anniversary of the company’s establishment from 2011 to 2021.
- Recognized as one of the Top 50 best listed companies in Vietnam in 2021 by Forbes Vietnam magazine.
- Achieved the Top 500 Largest Enterprises in Vietnam (VNR500).
- For the first time, produced and launched the organic fertilizer product named OM CAMAU.
- Impressive business results with a record total revenue of VND 10,041.67 billion, achieving 110% of the plan. Profit before tax reached VND 1,956.27 billion, achieving 212% of the plan.
- Honored to receive the Vietnam Gold Star Award for the 4th time.
- Ranked in the Top 50 Best Listed Companies in Vietnam for the 2nd consecutive year according to the Forbes Vietnam announcement.
- Awarded the National Brand Award for the 5th consecutive year.
- The Ca Mau Fertilizer Plant reached the milestone of 9,180,800 tons of urea production.
- Revenue and profit recorded the highest levels ever:
- Total revenue reached VND 16,240.76 billion, achieving 112% of the plan.
- Profit before tax reached VND 4,596.31 billion, achieving 118% of the plan.
- PVCFC successfully penetrated and developed the NPK market, with sales volume reaching 138.61 thousand tons, in the year, equivalent to 166% of 2022.
- Overcoming numerous difficulties and economic fluctuations in 2023, PVCFC achieved impressive business results, exceeding the annual plan targets with total revenue reaching VND 13,172 billion and profit before tax reaching VND 1,255 billion.
- The Board of Directors of PVCFC was awarded the title “Board of Directors Committed to Good Corporate Governance Practices”.
- PVCFC launched the first artificial human project in the Vietnamese agricultural sector called “Anh Hai Ca Mau”, strongly affirming PVCFC’s innovation and creativity to meet sustainable development goals in the new era.
- The Ca Mau Fertilizer Plant reached the milestone of 10 million tons of urea production on December 7, 2023.
- PVCFC’s total revenue reached VND 14,037 billion, profit after tax reached VND 1,428 billion.
- Export and international business continue to be a bright spot for Ca Mau Fertilizer, with export volume reaching 319,000 tons and annual export value of VND 2,940 billion. PVCFC is the first Vietnamese enterprise to receive a bulk export certificate for the Australian and New Zealand markets, marking its presence in nearly 20 countries and territories worldwide.
- The Ca Mau Fertilizer Plant reached the milestone of 11 million tons of urea production on December 25, 2024.
- PVCFC successfully completed the M&A of Korea-Vietnam Fertilizer Co., Ltd.
- PVCFC’s representative office is officially located at 173 – 179 Truong Van Bang Street, Thanh My Loi Ward, Thu Duc City, Ho Chi Minh City.
- PVCFC partnered with Samsung to distribute fertilizers globally; it was honored with the “National Brand” award for the sixth consecutive time.
- PVCFC officially opened the first Urban Agricultural Supermarket in Ho Chi Minh City.
Business lines and business area
Business lines
Established on 09/03/2011, PVCFC is an enterprise with the main business lines and activities in: Manufacturing, trading and import-export of fertilizers, petrochemicals, primarily serving the agricultural sector with the mission of serving millions of farmers with high-nutrient fertilizer products suitable for various crops and soil types. Applying technology based on the petrochemical industry, PVCFC has enhanced its business efficiency, while contributing to transforming the agricultural economy of the country towards green and sustainable development.
Production Capacity
PVCFC currently owns 3 plants, Ca Mau Fertilizer Plant, Ca Mau NPK Plant, and Korea-Vietnam NPK Plant.
Business operating area
With a vision to become a leading enterprise in the fertilizer production and trading sector, PVCFC always focuses on developing its business operations in an organic, safe and sustainable manner, contributing value to society and bringing benefits to the community. PVCFC brand is now present nationwide and has expanded its exports to international markets.
Present in approximately
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Countries
export volume
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tons
export value
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Billion VND
DISTRIBUTION NETWORK
PVCFC currently owns an extensive distribution network that spans along the country from North to South, while also establishing a significant market share in Cambodia. In the coming years, PVCFC continues to actively expand its distribution network, increase brand recognition, enhance competitiveness, and contribute to the prosperous and sustainable development of the national agriculture sector.
Products
Key business areas
GRI 2-6
PVCFC is an enterprise whose main functions and business activities include the production, trading, import-export of fertilizers and petrochemical products, primarily serving the agricultural sector. With the mission to serve millions of farmers, PVCFC provides high-nutrient fertilizers suitable for a wide variety of crops and soil types. By applying technological advancements based on the petrochemical industry, PVCFC enhances business efficiency while contributing to the transformation of the national agricultural economy towards sustainable green development.
PVCFC has made significant and positive contributions over the years:
To ensure sustainable development across all our business areas, we continuously improve and optimize our product portfolio, aiming for environmentally friendly solutions that meet international standards. Our products not only deliver economic value but also help minimize the impact on the ecosystem and enhance quality of life.
Products
MAIN PRODUCT LINES UNDER THE CA MAU FERTILIZER BRAND
The current product lines under the PVCFC brand include single fertilizers, NPK fertilizers, and high-quality organic fertilizers with high nutrient content. Throughout its development journey, PVCFC has consistently prioritized sustainable development as a strategic goal.

10 Highlight events
in 2024
Despite facing many difficulties and challenges due to market fluctuations, 2024 was considered a year of effective operation for Ca Mau Fertilizer, with impressive and comprehensive results.
Outstanding titles and
awards
In 2024, PVCFC was honored to receive numerous prestigious titles and awards, affirming its pioneering spirit and strength in the journey of serving Vietnam’s agriculture. These achievements not only mark the Company’s tireless efforts but also provide further motivation to continue building a green foundation toward a sustainable future.
Sustainability-Related Titles and Awards
No. | Award | Times | Years |
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1 | Most Reliable Sustainability Report | 1 | 2024 |
2 | Top 10 Best Corporate Governance Enterprises | 2 | 2023, 2024 |
3 | Enterprise Governance Beyond Compliance Award | 1 | 2024 |
4 | N.46 Plus Ca Mau - Top 10 products “Proud of Vietnamese Labor Intelligence” | 1 | 2017 |
5 | N.Humate +Te - “Proud of Vietnamese Labor Intelligence” Product | 1 | 2016 |
6 | Haldor Topsoe Certification - Top factories with the best operational efficiency. In 2022, Ca Mau Fertilizer was titled to be recognized among the “Top 10% of the World’s Lowest Energy-Consuming Plants.” | 4 | 2017, 2020, 2021, 2022 |
7 | Outstanding Enterprise for Employees | 4 | 2016, 2017, 2023, 2024 |
8 | National Quality Gold Award | 3 | 2015, 2020, 2022 |
9 | Sustainable Enterprise | 1 | 2019 |
10 | High-Quality Vietnamese Goods | 4 | 2016, 2017, 2019, 2024 |
11 | Enterprise Meeting Vietnamese Business Culture Standards | 2 | 2021, 2022 |
12 | Top 10 Strong Brands - Green Growth 2024 | 1 | 2024 |
13 | Community-Oriented Enterprise | 2 | 2023, 2024 |
Other Titles and Awards


Second-Class Labor Medal
(2016)


National Brand Award
(2014, 2016, 2018, 2020, 2022, 2024)


Vietnam Golden Star Award
(2014, 2016, 2018, 2024)
TITLES AND
AWARDS IN 2024
Based on a solid foundation, PVCFC continues to affirm our great desire, towards a faster and more effective development journey. After more than 14 years serving the national agricultural industry, PVCFC’s each step has marked endless efforts to overcome challenges and create sustainable values. In 2024, PVCFC was entitled to receive notable titles and awards, demonstrating the Company’s breakthrough and innovation.
These titles and awards not only recognize PVCFC’s achievements and efforts but also empower the Company to conquer new heights, realizing our desire to drive Vietnamese agriculture to further and faster development and more outstanding achievements.
Corporate culture
PVCFC's corporate culture is becoming increasingly well-defined and sustainable, with active contributions from employees through concrete action programs. Corporate culture is not only a measure of a professional and efficient working environment but also a key management tool that fosters unity, strength, and long-term prosperity.
With a sustainable development orientation, the implementation and development of corporate culture are given great attention and investment by the leadership. The company ensures the best conditions for all employees to participate in cultural training programs and activities, allowing PVCFC’s culture to be continuously promoted and deeply embedded. Over the past year, PVCFC culture has been continuously spread in many forms and implemented in many different activities to ensure suitability for 3 core segments: governance, production and subsidiaries PPC and KVF.
PVCFC always listens to the opinions, perspectives, and feelings of employees in order to implement more suitable adjustment solutions, maximizing the capacity of employees. Each individual is provided equal opportunities to demonstrate their own capabilities, regardless of gender, background, social status, or education level. Employees are always confident, autonomous, and have their capacity and experience fairly assessed based on the nature of the work and performance.
Maintaining the core culture and developing cultural identity are always integrated into the Company's annual plan and strategic orientation according to 4 core values: "Pioneering - Accountable - Considerate - Harmonious".