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.
Prime Minister Nguyen Xuan Phuc (R) hosts President and CEO of JG Summit Holdings, Inc. Lance Y. Gokongwei (Photo: VNA)
Hanoi (VNA) – JG Summit Holdings, Inc., one of thebiggest Filipino investors in Vietnam, hopes to invest in sustainablydeveloping tea business in the country, particularly via the participation inpublic-private-partnership projects.
President and CEO of the group Lance Y. Gokongwei revealedthe intention while being received by Prime Minister Nguyen Xuan Phuc in Hanoi onJune 17.
Welcoming trade-investment cooperation between Vietnameseand Philippine firms, PM Phuc said he wants to hear about difficulties facingJG Summit in Vietnam.
Gokongwei informed his host on the operation of the group inVietnam so far.
The company, starting its operation in the localfood-beverage industry in 2003, has promoted its made-in-Vietnam productsacross 10 nations worldwide. With a workforce of 3,000 hands and an accumulatedinvestment of 200 million USD to date, JG Summit exports half of its productsmanufactured in Vietnam.
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Phuc said Vietnam has potential in export processing andencourages JG Summit to study new Vietnamese products to be processed forexport. He affirmed that investors could be worry-free investing in Vietnam.
The leader stressed the production process needs to ensurefood safety and protect the environment.
Noting that Vietnam is working to eliminate single-useplastic products, the Government leader wanted JG Summit to join theeffort.-VNA
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Prime Minister Nguyen Xuan Phuc (R) hosts President and CEO of JG Summit Holdings, Inc. Lance Y. Gokongwei (Photo: VNA) 
