Last updated: Monday, April 24, 2017
Nortalic Targets to Become Key Player in Vietnam’s Edible Oils MarketPosted: Monday, April 17, 2017
As a joint venture between Vietnam Vegetable Oils Industry Corporation (Vocarimex) and Singapore’s Musim Mas Vietnam Oils & Fats Pte. Ltd, after nearly 2 years of construction, the edible oils factory, located in Nghi Son Economic Zone, is speeding up its work to become operational in 2017. Vietnam Business Forum has interviewed Mr Lee Nio Kwee, General Director of the North Oils & Fats Industries Company (Nortalic) about this project. Ngo Khuyen reports.
You have decided to invest in the factory for manufacturing edible oils & derivative products in Nghi Son Economic Zone, what advantages have you received? Could you talk about your project? What do you expect once the factory is put into operation?
Nghi Son Economic Zone in Thanh Hoa province has many advantages in investment infrastructure such as deep seaport, wide road and near the railway and the airport. By investing our project in this area, our company has many preferential policies such as import tax exemption, land rental exemption for 11 years from the operation date and other favourable policies on corporate income tax.
The project of factory for manufacture of edible oils and its derivative products is an investment of Musim Mas Group, a corporation in Singapore. The Project has an investment capital of US$71.5 million and a capacity of 1,500 tonnes/day. The main products of the factory are edible oils and its derivatives.
When the factory is put into operation, it will produce high quality products for all customers in Vietnam. Our company’s orientation is to bring the best products which are manufactured with the most advanced technology to Vietnamese people. And we target to become a key player in edible oils market in Vietnam. How have local authorities supported you in implementation of the project?
Our company has received the fullest support and cooperation of Thanh Hoa authorities in general and Management Board of Nghi Son Economic Zone and Industrial Zones in particular since the first day. Thanh Hoa authorities advised us in detail on how to obtain the investment principle approval and assigned its staff to assist us to obtain all required approvals to invest the project in Thanh Hoa, Vietnam.
During the construction period of the project, Thanh Hoa Authorities always provide valuable support to us to settle all arising matters and give us their best advice and assistance. What do you think about your staff and employees?
Nortalic’s project is under the construction phase and targeted to come into operation this year. In order to achieve this goal, in addition to the management of the Group, the development strategy of the company, the contribution of local staff play a crucial role to our company’ success. The employees are the key for all success of the company. Our project is in Vietnam and our policy is to bring the socio-economic development to Thanh Hoa province as well as the benefits to the local people.
On the occasion of Investment Promotion to Thanh Hoa Forum in 2017, as a big investor in Thanh Hoa province, what message would you like to share about the local investment environment?
As an investor in Thanh Hoa province, I would like to share that Thanh Hoa province is a good investment environment to all investors. With the fullest support and cooperation of Thanh Hoa provincial authorities, I believe that there will be more and more investors coming to this area for investment in the future.