Tue. Nov 29th, 2022

Deputy Prime Minister Hoang Trung Hai has urged the PetroVietnam
Fertiliser and Chemicals Corporation (PVFC) and its Phu My Fertiliser
plant to develop products which are in short supply in Vietnam in an
effort to gradually ease the country’s reliance on imports.

At
present, 24 percent of Vietnam’s fertilizers and other chemical products
are still imported from other countries to meet local demand, Deputy PM
Hai said at a ceremony to award the State’s Labour Order, first class
to PVFC and Phu My fertiliser plant in Ho Chi Minh City on March 26.

He
said PVFC should improve its competitiveness and corporate governance
to efficiently deal with the increasingly fierce competition at home and
abroad, especially when the country’s free trade agreements with
regional and global partners are due to be signed.

Hai elaborated that Phu My fertiliser plant operating as scheduled has
helped meet 40 percent of domestic nitrogenous fertiliser demand for
agricultural production.

With its Phu My and Ca Mau
fertilizer plants, the PVFC has to date supplied 70 percent of
nitrogenous fertilisers to the market, helping stabilise domestic supply
and ensure national food security, Hai said.

Since its establishment, the PVFC has churned out over 6 million tonnes of Phu My fertilizer.

It
has also contributed more than 550 billion VND (26 million USD) to
social welfare programmes and built over 16,000 houses for the poor and
dozens of health care and educational facilities.

At
present, 24 percent of Vietnam’s fertilizers and other chemical products
are still imported from other countries to meet local demand, Deputy PM
Hai said at a ceremony to award the State’s Labour Order, first class
to PVFC and Phu My fertiliser plant in Ho Chi Minh City on March 26.

He
said PVFC should improve its competitiveness and corporate governance
to efficiently deal with the increasingly fierce competition at home and
abroad, especially when the country’s free trade agreements with
regional and global partners are due to be signed.

Hai elaborated that Phu My fertiliser plant operating as scheduled has
helped meet 40 percent of domestic nitrogenous fertiliser demand for
agricultural production.

With its Phu My and Ca Mau
fertilizer plants, the PVFC has to date supplied 70 percent of
nitrogenous fertilisers to the market, helping stabilise domestic supply
and ensure national food security, Hai said.

Since its establishment, the PVFC has churned out over 6 million tonnes of Phu My fertilizer.

It
has also contributed more than 550 billion VND (26 million USD) to
social welfare programmes and built over 16,000 houses for the poor and
dozens of health care and educational facilities.-VNA

By vivian