6:56:45 PM | 12/26/2016
Uni-President Vietnam was one of the first investors to arrive in Binh Duong after the province was re-established. In 17 years with Binh Duong province, Uni-President has achieved great successes and made positive contributions to local socioeconomic development. Vietnam Business Forum Magazine has an interview with Mr Yang Jinn Pey, Deputy General Director of Uni-President Vietnam.
Could you please briefly introduce Uni-President Vietnam and its successes in Vietnam?
Uni-President invested an initial amount of US$225 million in Vietnam in 1999. In 2001, its production plant was put into operation. Uni-President is a multinational multi-business investment group, but it invests in only a few core fields in Vietnam: fish feed, animal feed, wheat flour and instant noodle. After 17 years of operation, from a fish feed factory in Binh Duong province, Uni-President now has six production facilities in Tien Giang, Ninh Thuan and Quang Nam provinces, including its full acquisition of Tribeco Binh Duong Company in VSIP 1 and another production facility in Hung Yen province, in order to meet domestic and regional market demands. The Binh Duong province-based plant accounts for 35 per cent of the company’s total revenues.
Why did Uni-President choose Vietnam, Binh Duong province to be exact, as one of its investment destinations?
With a long coast of 3,260 km, Vietnam is a transit point of Southeast Asia and Northeast Asia. These advantages, plus Vietnam’s investment incentive policies and low labour costs, quickly caught the fancy of foreign investors and Vietnam became an ideal country to locate factories. Seizing the one-off opportunity, Uni-President Group decided to invest in production factories in Vietnam.
For its part, Binh Duong province has a very convenient location, adjacent to Ho Chi Minh City and in the economic development triangle of Binh Duong, Dong Nai and Ba Ria-Vung Tau, a very developed region. Binh Duong has a convenient transportation infrastructure and lies near seaports. Moreover, the province’s investment policies are very good and the government is very business-friendly.
The current competition on the market is very stiff. So, what solutions does Uni-President Vietnam take?
Uni-President Vietnam’s portfolios are highly competitive, competing not only with popular domestic brands, but also with other foreign investors.
That context has posed numerous challenges to Uni-President Vietnam, but the company has managed to maintain the business mission “honest, hardworking, creative, progressive” and fulfil the group’s mission “three good – good, one reasonable.” Three good are good quality - good reputation - good service and one reasonable is reasonable price. Therefore, since it went into operation, Uni-President Vietnam has always maintained high growth. The company’s brand has won the trust of customers.
What is the Uni-President Vietnam’s strategy in the coming time following those successes?
While many other investors simply see Vietnam as a production factory, Uni-President has a completely different approach. We see Vietnam as a long-term investment destination where the company generates the value for reinvestment and to serve local consumers.
Uni-President Vietnam always looks to improve product quality and invest in production lines. Only quality brings in success and boosts the company brand name. In addition, the company will strive to introduce a variety of fish feeds for aquaculture.
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