(VAN) CJ Group wishes to further invest in Vietnam in the fields of food processing and to enhance food exports such as spring rolls and processed shrimp.
Prime Minister Chinh suggested that CJ continue to expand its investments in Vietnam with higher quality, considering Vietnam as a strategic market, and achieving success together with Vietnam. Photo: VGP/Nhat Bac.
During the last day of his visit to South Korea, Prime Minister had a meeting with Mr. Sohn Kyung Sik, the Chairman of CJ Group this Wednesday.
CJ is a South Korean global corporation that was founded in 1953. It operates in various industries including food and food services, biotechnology, logistics, retail, and culture. CJ has engaged in investment activities in Vietnam since 1998, allocating a cumulative investment amount of USD 1 billion. The company currently possesses 24 subordinate firms, generating a revenue of USD 1.4 billion in 2023, and employing a workforce of 11,200 individuals.
At the meeting, CJ put forward multiple ideas about Vietnam’s standards system, taxation in cattle farming, administrative procedures, and other related matters. Vietnam is the regional headquarters for CJ, and CJ plans to increase its investments in Vietnam’s food processing industry and enhance the export of items including spring rolls and processed shrimp. The objective of this program is to globally promote Vietnamese culinary culture, as well as its presence in logistics, cultural industries, and biotechnology.
The Prime Minister commended CJ’s efficient business operations in Vietnam and urged CJ to extend its investments, highlighting Vietnam as a pivotal market for shared prosperity. Emphasis was placed on collaboration in livestock agriculture, eco-friendly food processing, advanced technology, logistics, entertainment services, cultural industries, and biotechnology. Additionally, the integration of a greater number of Vietnamese products into CJ’s worldwide supply chain was emphasized.
The Prime Minister also commended CJ’s policy suggestions, affirming that government agencies will thoroughly examine and integrate these proposals into the policy supplementation and enhancement procedures. When new rules are implemented, certain measures will be put in place to guarantee smooth transitions and protect enterprises from negative consequences. Furthermore, there was a strong emphasis on intensifying anti-smuggling measures in order to safeguard indigenous industry.
Prime Minister Pham Minh Chinh held meetings with top executives from prominent South Korean businesses such as CJ, Posco, LG, Daewoo E&C, GS Engineering & Construction Corp, Celltrion, and KDB Bank, all on the same day.
The conglomerate leaders expressed their satisfaction with Prime Minister Pham Minh Chinh’s visit to South Korea and their belief in the strong and growing growth of bilateral relations. They expressed great admiration for the progress made in Vietnam’s investment and economic environment.
The conglomerates were encouraged to increase their interests in Vietnam. Prime Minister Chinh stated that the Vietnamese government will provide continuous support and assistance to these conglomerates in their investment, construction, and development projects in Vietnam, with the aim of delivering efficient and effective outcomes that benefit all parties involved.
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