Viet Trung - Dai Duong Fruit & Vegetable Processing Joint Venture: Corrects Investment for Strong Development

 

In 2004, Dai Duong - Viet Trung reported their first profit after offsetting losses in 2003. In 2005, the company is deploying the project of planting Panama banana trees on total areas of 25ha. In addition, the company continues to provide seedlings and breeding for the local market. Total revenues in the first six months of 2005 were reported at more than VND4 billion. Average income of the company’s employees was at around VND1.15 million per month. The company has pledged all social and health insurance policies for employees.

 

Chairman of the company’s management board Phan Anh Chi said “China is a giant and potential market but it is fastidious and sentimental. Businessmen can benefit much from it if they have a clear understanding of the market.”

 

A joint venture with Chinese partners is now suitable. The Chinese partner ensures the consumption for all exports (from Vietnam to China). “Every business must have target products and has to focus on improving competitiveness in the fields they are engaging in,” Mr. Anh said.

 

“Besides, all companies must be sincere and faithful in business,” he said. “Currently, the company is asking the local government to rent land for construction of a factory for stable development. The company will invest in facilities and equipment to increase income for employees, contributing to the development of Lao Cai in particular and for the country in general.”

 

In preparation for joining the WTO, the company is completing improvements to its competitive ability with investment in technology and training labourers and professionals. With the right investment, Dai Duong - Viet Trung will become more stable in the local market and will gain higher success.