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18 Years of Building a Strong Foundation, Moving Confidently into the Future

On July 24, 2026, DAP-VINACHEM Joint Stock Company celebrates its 18th anniversary. While eighteen years may not be a long period in the life of an industrial enterprise, it has been sufficient to demonstrate the Company's resilience, commitment to innovation, and steady development. From the early days of constructing the Dinh Vu DAP Plant to becoming one of the most efficient manufacturing and business units within Vietnam National Chemical Group (Vinachem), DAP-VINACHEM has built its reputation through consistent progress at every stage of its journey.

Building the foundation, establishing the brand

Established in 2008, DAP-VINACHEM was entrusted with investing in and operating the Dinh Vu DAP Plant in the Dinh Vu Economic Zone, Hai Phong, with the mission of securing a domestic supply of DAP fertilizer for Vietnamese agriculture. The plant successfully completed trial operations in April 2009 and quickly entered commercial production. During the 2010–2015 period, the Company maintained stable operations, with the project officially finalized and handed over in 2013. DAP fertilizer bearing the Vinachem brand gradually earned market recognition for its quality, becoming an important domestic supply source and helping reduce Vietnam's dependence on imported DAP fertilizer.

Demonstrating resilience and creating momentum for growth

The year 2016 marked a particularly challenging period for the Company. In response to increasing demands for restructuring and operational efficiency, DAP-VINACHEM implemented a comprehensive range of measures covering corporate governance, production management, and resource optimization. Following the issuance of Decision No. 1468/QD-TTg by the Prime Minister in 2017, the Company gradually restored its growth trajectory, strengthened its financial foundation, and improved business performance. These achievements laid the groundwork for successfully fulfilling the objectives of the restructuring program under Decision 1468. During this period, DAP-VINACHEM also established Dinh Vu Gypsum Joint Stock Company to utilize phosphogypsum as raw material for construction materials, opening a new path toward a circular economy model.

From 2020 to 2022, the Company continued to maintain positive growth momentum. Business performance improved year after year, while financial capacity and corporate governance were further strengthened, providing a solid foundation for the next stage of development.

Driving innovation toward sustainable development

Entering the 2023–2026 period, DAP-VINACHEM identified technological innovation and green transformation as its long-term strategic priorities. The successful implementation of its phosphogypsum recycling project transformed industrial by-products into raw materials for construction materials and contributed to the development of national standards governing the use of these materials. At the end of 2025, the Company broke ground on an investment project to upgrade phosphoric acid quality and build a 60,000-ton-per-year MAP fertilizer production line, further expanding its value chain and enhancing competitiveness.

The Company's performance during the first six months of 2026 further reinforced its position within Vinachem, ranking among the Group's top five subsidiaries in both revenue and pre-tax profit. These results reflect the effectiveness of its ongoing efforts in governance reform, technological investment, and sustainable green development.

Looking back on its 18-year journey, every milestone achieved by DAP-VINACHEM has been built upon the dedication, unity, and creativity of generations of employees. From laying the foundation for Vietnam's domestic DAP fertilizer industry and overcoming challenging periods to establishing a strong position through efficient operations and continuous technological innovation, the Company has built a solid platform for future growth.

Building upon its achievements, DAP-VINACHEM will continue to pursue its development strategy for the 2026–2030 period and its vision toward 2040 by accelerating investment in advanced technologies, promoting green manufacturing, improving product quality, and strengthening its competitive capabilities. With the strong foundation established over the past 18 years, DAP-VINACHEM is well positioned to continue contributing to the sustainable development of Vinachem, Vietnam's chemical industry, and the nation's agricultural sector.