Today: 26/01/2021 10:15:03 (GMT+7)

Philippine company eyes investment in Vietnam’s tea industry

JG Summit Holdings, Inc., one of the biggest Filipino investors in Vietnam, hopes to invest in sustainably developing tea business in the country, particularly via the participation in public-private-partnership projects.

President and CEO of the group Lance Y. Gokongwei revealed the intention while being received by Prime Minister Nguyen Xuan Phuc in Hanoi on June 17.

Welcoming trade-investment cooperation between Vietnamese and Philippine firms, PM Phuc said he wants to hear about difficulties facing JG Summit in Vietnam.

Philippine company, investment, Vietnam’s tea industry, JG Summit Holdings, public-private-partnership projects, trade-investment cooperation

Prime Minister Nguyen Xuan Phuc (R) hosts President and CEO of JG Summit Holdings, Inc. Lance Y. Gokongwei.

Gokongwei informed his host on the operation of the group in Vietnam so far.

The company, starting its operation in the local food-beverage industry in 2003, has promoted its made-in-Vietnam products across 10 nations worldwide. With a workforce of 3,000 hands and an accumulated investment of 200 million USD to date, JG Summit exports half of its products manufactured in Vietnam.

Gokongwei said the group has a programme on boosting plastic waste recycling and has joined alliances that fight plastic waste.

Phuc said Vietnam has potential in export processing and encourages JG Summit to study new Vietnamese products to be processed for export. He affirmed that investors could be worry-free investing in Vietnam.

The leader stressed the production process needs to ensure food safety and protect the environment.

Noting that Vietnam is working to eliminate single-use plastic products, the Government leader wanted JG Summit to join the effort.

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Bac Giang expands 100 hectares of safe Bat Tien tea growing area
(BGO) - Some 100 hectares of Bat Tien tea will be cultivated under the safe procedure in the Thanh Son town and the neighboring communes from now on to 2020, the local authority in Son Dong district Bac Giang province informed.
Ta Xua Shan Tuyet Tea
Ta Xua commune in Bac Yen district, the northern mountainous province of Son La, has been known nationwide for its over-100-year-old Shan tuyet tea which has a specially delicious taste.
Xuan Luong becomes green with tea fields
(BGO) – In the recent five years, Xuan Luong commune (Yen The district - Bac Giang province) has been known for its outstanding achievements in economic, cultural and tourism development. The advantages of the upland commune are being promoted. Especially, tea trees have brought a great source of income to the people here.
Vietnam tea exports ranked fifth worldwide
Vietnam is now the seventh biggest tea producer in the world and the fifth biggest exporter of the product.

Source: VNA

Philippine company, investment, Vietnam’s tea industry, JG Summit Holdings, public-private-partnership projects, trade-investment cooperation
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