CJ CheilJedang announces vision for VN food business

They include two foreign projects based in the Phu My 3 Industrial Park (IP) and the My Xuan B1 – Tien Hung IP, which are invested by the UK’s Zincox Resources PLC and the Republic of Korea (RoK)’s CJ Cheiljedang Corporation. Three domestic ones are located in the Phu My I IP and Tan Phuoc commune, Tan Thanh district. Investment licences are granted to five new projects in Ba Ria – Vung Tau on February 16 At the event, Secretary of the provincial Party Committee Nguyen Hong Linh highlighted the three key investment sectors, which are hi-tech and environmentally friendly industrial projects, logistics services, and tourism. Additionally, the locality has also actively called for investment in hi-tech agriculture, projects in trade, health care, education and infrastructure facilities. In 2015, the province drew 12 new foreign invested projects and 20 domestic ones with a total registered and adjusted capital of US$550 million and VND4.25 trillion (US$189.7 million). As of the end of last year, there were 295 foreign projects operating in the locality, totaling nearly US$27 billion, and 434 domestic projects, worth more than VND240 trillion (US$10.7 billion).... [read more]

CJ starts chili farming in Vietnam Hung Le By Hung Le - The Saigon Times Daily HCMC – After investing in the sectors of food processing, cinema, TV shopping, animal feed and film production in Vietnam, South Korea-based CJ CheilJedang has joined the cultivation sector here by cooperating with Ninh Thuan Province. CJ CheilJedang on Wednesday signed a memorandum of understanding with Ninh Thuan Province to develop a high-quality chili farm, helping contribute to the province’s agricultural development. Ninh Thuan Province will coordinate with CJ CheilJedang to transfer advanced technology to farmers while the South Korean firm will supply chili seeds and buy all chili from farmers. This project will create jobs and stable incomes for around 3,000 locals. According to CJ CheilJedang, while the rainy season in other provinces starts in May and ends in September, the season in Ninh Thuan lasts from October to December, which is advantageous to chili harvesting. In addition to Ninh Thuan, CJ CheilJedang will cooperate with other provinces to produce more farm produce of high quality.... [read more]

Here are the leading news stories about Vietnam you should not miss today, December 3 Here are the leading news stories about Vietnam you should not miss today, December 3 Politics -- The Asian Development Bank is one of Vietnam's most important partners in capital, technical assistance and policy advice supports, Prime Minister Nguyen Xuan Phuc said at the 50th anniversary of the establishment of the bank. Society -- Some 1.1 million residents in four central Vietnamese cities will benefit from a US$273 million World Bank-backed project aimed to improve access to environmental sanitation services and the effectiveness of sanitation facilities there. -- A raging blaze engulfed a 1000ha warehouse of recycled plastic in Hanoi for three hours on Friday night. There are no immediate casualty reports. -- A man was caught red handed when he was making an explosive device inside a hotel room in the north-central province Nghe An on Friday. -- A tornado swept through the southern province of Soc Trang on Friday, unroofing 126 houses. -- Two were killed while two others went missing as rain and flood hit central Vietnam on Friday. Business -- Vietnam's foreign arrivals are expected to top 10 million in 2016, a strong rise from 7.94 million last year, according to the Vietnam National Administration of Tourism. -- Vietnam and Argentina logged two-way trade value of some $2.42 billion in the year to early November, according to data released at the fifth meeting of the Vietnam-Argentina Inter-Governmental Committee in Hanoi on…... [read more]

The Cau Tre Export Goods Processing JSC is seeking shareholder approval for CJ CheilJedang, the food subsidiary of South Korea’s CJ Group, to purchase shares from major shareholders and become its strategic partner. CJ CheilJedang is seeking agreement from Cau Tre’s shareholders to purchase shares from Transwell Enterprises, which holds 37.22 per cent, Vietnam Investment Fund, with 10 per cent, and the Song Da Corporation, with 0.11 per cent. The total purchase would be approximately 47.33 per cent of voting rights and be based on agreement, not public bidding. Cau Tre’s Board of Directors will ask the EGM to approve CJ CheilJendang’s proposal and become its strategic partner. The South Korean company also proposed taking seats on Cau Tre’s Board of Directors. Mr. Chang Bok Sang, Chairman and CEO of CJ Vietnam, Mr. Roh Woong Ho, Mr. Kim Jung Ho, and Mr. Park Young Ju have been nominated for the Board seats, replacing Ms. Dang Pham Minh Loan, Mr. Le Thanh Hao Nhien, Mr. Tran Bao Minh and Mr. Le Xuan Dong. The Supervisory Board may also change, with Mr. Kim Se Won being nominated to replace Ms. Pham Thi Thuy. Elections will be conducted at the EGM on December 2. After failing in its bid for Vissan, a Vietnamese State-owned food processor, in March the CJ Group then moved to purchase the Cau Tre shares. It plans to pour another $500 million into Vietnam via direct investment and M&A, including in food, retail and entertainment. CJ Vietnam took over…... [read more]

Five investors pledge VND3.6 trillion in Ba Ria-Vung Tau Van Nam By Van Nam - The Saigon Times Daily HCMC – The government of Ba Ria-Vung Tau Province has allowed the first five investors of this year to spend an estimated VND3.6 trillion (US$161 million) on their projects in the province. Three projects got in-principle approval from the province at the 2016 Investment Day on February 16. They are a furnace dust treatment project worth US$115 million invested by the UK’s Zincox Resources PLC at Phu My 3 Industrial Park, an US$18.3-million animal feed material project of South Korea’s CJ Cheiljedang Corporation at My Xuan B1-Tien Hung Industrial Park and a renewable energy equipment production project worth VND385 billion at Phu My 1 Industrial Park invested by IREX Energy Joint Stock Co. The province granted investment certificates to a VND135-billion warehouse and logistics project of Soltrans Phu My at Phu My 1 Industrial Park and an VND80 billion port upgrade project of Duc Hanh Construction and Transport Company in Tan Thanh District. As of last year, foreign investors had registered nearly US$27 billion for 295 projects while domestic firms had pledged VND240 trillion for 434 projects in Ba Ria-Vung Tau. The provincial government pledged to continue improving the business environment to make the province an attractive destination for domestic and foreign enterprises. “We will keep supporting you, streamlining administrative procedures, improving the investment environment and facilitating operations of enterprises,” provincial Party chief Nguyen Hong Linh told investors. Linh added Ba…... [read more]

Annual Tra fish exports expected to increase 5 percent Earnings from Tra fish exports are expected to increase 5 percent to reach 1.6-1.7 billion USD in 2016, according to Vietnam Association of Seafood Exporters and Processors (VASEP). Demand for Vietnam’s Tra fish exports in the fourth quarter of 2016 and the first quarter of 2017 is forecasted to rise by 20 percent as the year-end holiday season begins in importing countries, added VASEP. The association also said Tra fish processors are facing material shortages, after many farmers stopped raising the fish due to falling Tra fish price and a lack of fry. In order to meet the projected figure, VASEP advised businesses to sign contracts with farmers to ensure stable supply and prices while helping expand fish farming area. Latest industrial technologies on show at int’l fair in Hanoi The 25th Vietnam International Industrial Fair (VIIF) is set to take place in Hanoi from October 17-20 with the participation of over 200 businesses. The VIIF is considered a prestigious industrial fair in the country and the region, Nguyen Minh Tien – Director of the Vietnam Exhibition and Fair Centre told the media on October 14. This year’s event, held at the International Centre of Exhibition, draws more than 100 foreign enterprises from the Republic of Korea, China, Taiwan (China), India, and Japan, among others. On over 4,500 sq.m. of ground, businesses will showcase up-to-date industrial products and technologies that help improve productivity and product quality such as automated welding robots,…... [read more]

Founded in 1970, Vissan is among the country’s leading producers and exporters of fresh meat, poultry and processed food. It possesses many advantages from a distribution network covering about 130,000 markets and more than 1,000 supermarkets and convenience stores. On March 7 its initial public offering (IPO) was held with a total of 11.32 million shares for sale, equal to 14% of its charter capital and with an initial price of VND17,000 (US$0.76). The IPO caught much attention, attracting 142 investors with purchase registrations totaling 63.6 million, or six times higher than the amount of shares available. The highest bidding price was VND102, 000 (US$4.57). All 11.32 million shares were sold to five investors at an average price of more than VND80,000 (US$3.58) per share, earning Vissan VND907 billion (US$40.66 million). On March 24 Vissan also held an auction for 11.32 million shares, or 14% of its charter capital, for strategic shareholders: the Agriculture International Company (Anco), the Producing Animal Feeds JV Co. (Proconco), and South Korea’s CJ CheilJedang Company (CJ). CJ offered to buy the shares for VND120,600 (US$5.4) each while Proconco offered VND125,000 (US$5.59). Anco, though, went even higher, to VND126,000 (US$5.64), and secured the purchase. Vissan acquired VND1.427 trillion (US$63.91 million) from the auction. Though Anco won the auction, the Masan Group picked up 53% of Proconco and 70% of Anco in April last year after buying 99.99% of the Sam Kim Co., which had these shareholdings. In July Vissan officially became a joint stock company with…... [read more]

VietNamNet Bridge - The meat market in the country, estimated to have value of $18 billion, is controlled by enterprises from France, Thailand, South Korea and Vietnam. The current consumption is 33.5 kilos per head per annum, while the figure would be 39 kilos by 2020. This means that the potential of the market is great for investors. However, there are only a few safe-meat suppliers in the vast market such as Masan, CP Vietnam and Vissan. French investors jumped into the market recently after realizing the potential in the market. Three French companies have decided to cooperate with farming households in Mekong Delta in a project called Le Porc du Mékong. They have built up a closed 3F production line (feed, farm, food), in which each enterprise is in charge of its works. Grimaud chooses breeders, Neovia Vietnam is in charge of making animal feed, and Le Boucher processing and distribution. About 600 Vietnamese households have joined the project. In the past, the meat supply market was dominated by CP Vietnam, a Thai invested company, and Vissan, a Vietnamese owned enterprise. However, Masan has emerged recently as the most ambitious rival. By obtaining 24.9 percent of Vissan stakes in June and owning two animal feed manufacturers – Anco and Proconco, Masan shows its ambition to conquer the food market. Only in early 2015 did Masan enter the animal feed sector. However, it has become the second largest producer in the field just one year later. The business had 46…... [read more]

Tourism activities in 2017 should be prepared carefully Deputy Chairman of HCMC People's Committee Tran Vinh Tuyet chaired meeting to review the International Tourism Exhibition 2016 (ITE 2016) and the Business Partner City Conference 2016 (BPC 2016). Ms. Nguyen Thi Anh Hoa, deputy director of HCMC Department of Tourism said the ITE 2016 attracted 32 countries and territories across over the world, and welcomed over 28,000 visitors. In order to prepare for the ITE 2017, Mr. Tran Vinh Tuyen asked the department to experience good points and difficulties from ITE 2016 then send the report to the committee. Besides, he required the department to summarize the city's tourism resources. The preparations for ITE 2017 must be carried out soon, starting at the beginning of 2017. In addition, the department must organize tourism activities in line with sport facts in 2017. Only a few out of 50 businesses access low interest loans The Department of Industry and Trade of Ho Chi Minh City said that only three out of 50 registrants have been able to access loans under the city's investment stimulation promotion program. The program, implemented ten months ago by the city People's Committee, aims to give businesses incentives in infrastructures and capital to develop industrial production especially support industry. Of the 50 firms registering to get VND300 billion (US$13.45 million) in loans from the program, three have been successful. Previously, the city People's Committee had carried out many programs to help businesses solve difficulties. However, rare of them have…... [read more]

Hanoi (VNA) – The Republic of Korea’s CJ Group and the Saigon Trading Group (Satra) have agreed to expand their partnership in the food business in Vietnam, according to Sai Gon Giai Phong newspaper. CJ CheilJedang, a food subsidiary of CJ Group, will work with Satra to develop new products. The two sides will also produce beverages in Vietnam. The RoK company pledged to support Satra to upgrade equipment in the retail system and boost marketing activities via skills training courses as well as promotion programmes and product introduction events. CJ CheilJedang will help Satra establish a selling zone in its retail network for products imported from the RoK. Meanwhile, CJ Freshway, another subsidiary of CJ Group, has become Satra’s exclusive supplier of RoK fruits. Both sides will set up supply chains for fresh fruit distribution and improve cold storage systems to ensure product quality.-VNA... [read more]

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