Phnom Penh — The PetroVietnam Fertilizer and Chemicals Joint Stock Company (PVFCCo) officially opened a branch in Cambodia last Friday in an attempt to sell products directly to local farmers.
Since the establishment of its representative office in Phnom Penh in May 2010, PVFCCo, an affiliate of the Viet Nam National Oil and Gas Group (PetroVietnam), has sold around 6,000 tonnes of urea to Cambodian companies.
PVFCCo Chairman Bui Minh Tien said the inauguration of the Phnom Penh branch would help the company better serve the Cambodian market.
Through the direct sales of products to Cambodian farmers, the company might reduce the time it took to supply farmers and to transfer techniques in rural areas, he added.
Speaking at the inauguration ceremony, Cambodian Deputy Prime Minister Men Sam An said PVFCCo's shift from a representative office into a true branch proved the company's firm confidence in its long-term investments in Cambodia.
Meanwhile, Vietnamese Ambassador to Cambodia Ngo Anh Dung said the event marked a turning point and affirmed Vietnamese businesses' commitment and resolve to invest in Cambodia.
On this occasion, PVFCCo signed deals on distributing urea with two major fertiliser agents in Cambodia, namely Heng Pich Chay in Takeo Province and Chhun Sok An Company in Kandal Province.
The Vietnamese company also donated 25 tonnes of urea fertiliser to poor farmers in Battambang province.
This is the PVFCCo's first foreign branch. The company is planning to expand its market to other regional countries such as Myanmar, the Philippines and Thailand. — VNS