The working session between CP Vietnam and representatives from the Binh Dinh People's Committee (Source: VNA)BinhDinh (VNA) – TheThai-invested CP Vietnam Breeding JSC (CP Vietnam) will invest in a slaughterand processing plant in the central province of Binh Dinh under a memorandum ofunderstanding (MoU) between the firm and local authorities.
TheMoU was signed between Chairman of the provincial People’s Committee Ho QuocDung and General Director of CP Vietnam Montri Suwanposri on September 26 inthe presence of Thailand’s Consul General Ureerar Ratanaprukse.
Montri Suwanposri said his firm had two food processing plants in Hanoi and thesouthern province of Dong Nai, adding that there are demands for the company toexpand its production and business in the field in the central region ofVietnam, and that Binh Dinh is the best destination for that.
CP Vietnam has invested about 1 trillion VND (42.8 million USD) into Binh Dinh,mainly in producing animal feed, livestock, and garments and textiles.
According to the provincial Department of Agriculture and Rural Development,the locality’s livestock sector is developing with strength towards high-qualitybreeding.
Currently, the province has nearly 1 million heads of cattle and 7.5 millionheads of poultry.
However,Binh Dinh has no food processing plant. Therefore, the value of livestock productsis low, with farmers facing considerable difficulties and risks.
At the signing ceremony, the department proposed to introduce four locationsunder the livestock development plan of the locality to 2020, making it easy forCP Vietnam to select its investment project.
Chairman of the provincial People’s Committee Ho Quoc Dung said that investmentfor building a food processing plant is a pressing need of the locality atpresent.
Hepledged that the local authorities will create the most favourable conditions forCP Vietnam to implement the project.
CP Vietnam owns 7 percent of the pork marketshare, 16 percent of the industrial egg market share, 22 percent of the chickenmarket share, and 18 percent of animal feed.
Thai investors have been successful on theVietnamese market thanks to their effective strategies. –VNA
VNA
