Tan Cu Le

PetroVietnam Fertilizer and Chemicals Company (PVFCCo) was establised under the Decision No. 02/2003/QD-VPCP dated 03/28/2003 of the Secretary of the Office of Government and officially came into operation from 01/19/2004. The functions and duties of PVFCCo are to take over, manage and operate effectively the Phu My Fertilizer Plant; produce and trade urea fertilizer, liquid ammoniac, industrial gas and other chemical products. Right after receiving the establishment decision, PVFCCo formed and utilized its full forces to be able to take over, manage, and operate successfully and efficiently the Phu My Fertilizer Plant. Today, PVFCCo production satifies roughly 50% of the total urea Vietnam domestic demand (total domestic demand is from 1.6 – 1.8 milllion tones per year) and about 40% of the liquid ammoniac. Following the national economy growth trend, the Department of Industry decided to equitize PVFCCo. On September 01, 2007, Petro Vienam Fertilizer and Chemical Company was officially equitized and became a joint stock company with charter capital of VND 3,800,000,000,000 (roughly USD237,500,000). On November 05, 2007, 380 million shares of PVFCCo were officially listed and traded in the Hochiminh City Securities Exchange under symbol of DPM. At the shareholders’ annual meeting on May 04, 2008, PVFCCo transformed its business model into corporation.