17:38 (GMT +7) - Tuesday 12/12/2017

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Taiwanese Group eyes Dong Nai food investment

Released at: 14:41, 01/12/2017

Taiwanese Group eyes Dong Nai food investment

Photo: Want Want Group

Want Want Group seeking to invest in a rice cake factory costing $160 million in southern province.

by Nghi Do

Taiwan’s Want Want Group is planning to invest in a $160-million rice cake factory in southern Dong Nai province.

The Group’s CEO Lee Yu Sheng recently held a meeting with the Deputy Chairman of the Dong Nai Provincial People’s Committee to determine its investment policies in the food industry.

The factory’s estimated investment in the first phase is about $60 million and then $100 million in the second phase.

Want Want is a multi-disciplinary corporation founded in 1962. It began to produce food and beverages then expanded into other areas such as real estate, hotels, agriculture, medical, insurance, and media.

According to provincial figures, Taiwan ranks second out of more than 40 countries and territories investing in Dong Nai, with 1,457 valid FDI projects worth more than $27 billion.

In the first eleven months of this year, Dong Nai attracted 73 FDI new projects worth $586.1 million while 78 existing projects increased their investment, by $330.5 million. Projects include the $60 million Powerknit Vietnam Co. project from the British Virgin Islands, the $80 million in additional capital for the Pou Sung Vietnam project, the $55 million Pou Phong Vietnam Co. project from the British Virgin Islands, and the $24 million Phu Lam Plastic Industry JSC project from Taiwan.

The provincial Department of Planning and Investment estimates the province will attract FDI worth $1.5 billion in 2017.

According to provincial authorities, Dong Nai has advantages in climate, with enterprises investing in the province never at risk of suspending operations due to natural disasters. Its industrial zones have good infrastructure, so the cost of building a factory is cheap and transportation is convenient.

More FDI companies and groups have come to Dong Nai in recent times to determine policies and procedures when investing in the province in the fields of industry, agriculture, and the environment. According to Mr. Olaf Muller, Managing Director of the Eggersmann Equipment Manufacturing Group from Germany, the group is looking to invest in Dong Nai in the field of industrial and waste treatment, with the most modern technology in the world. Dong Nai has a very favorable location for investment because of its large land area, favorable climate, and transportation links.

Many investors from South Korea, Japan, China, Taiwan, Finland, the US, and France have come to the province with a desire to invest or expand their investment.

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