CPV investment not because of low labor costs

15:05 | 02/06/2017 Investment

(VEN) - Vietnam Economic News’ Nguyen Hoa spoke with Montri Suwanposri, General Director of the CP Vietnam Corporation (CPV).

cpv investment not because of low labor costs
Montri Suwanposri, General Director of the CP Vietnam Corporation

CPV was one of the first foreign invested businesses to receive two awards at the Vietnam Top Trade Services Awards 2016. Could you say something about this achievement?

CPV is a member of the CP Group (Thailand). The group opened its representative office in Ho Chi Minh City in 1988 and officially began business operations in Vietnam in 1993. The main areas of our operations include production of feed for cattle, poultry and aquatic animals, aquaculture, and food processing, distribution and retail.

So far, we have been operational in Vietnam for 24 years and contributed actively to the Vietnamese economy. Our policy is to cooperate with and transfer technologies to farmers to promote agricultural development for mutual benefits of the country, farmers and the corporation itself.

CPV is known as a business with high investment effectiveness. We have contributed significantly to the Vietnamese animal husbandry sector, promoting its shift from small-scale production to a modern model using industrial methods.

Thanks to its great efforts, CPV received two awards, Excellent Enterprise Award and Excellent Entrepreneur Award, at the Vietnam Top Trade Services Awards 2016. These awards encourage the corporation’s further efforts to create clean and safe products.

The past 24 years have seen CPV’s success in developing its brand in the Vietnamese market. How has the corporation achieved this success?

As soon as we came to Vietnam, we started developing our brand by creating clean products necessary to promote sustainable agricultural development. We have paid special attention to environmental protection. It’s our responsibility to protect the environment in all countries we invest in.

Along with domestic sales, we have exported our products to large markets worldwide, including the EU and the US. In the future, we will promote exports to other markets.

Thai investment in Vietnam has grown continuously in recent years. There is a view that Thai investors come to Vietnam to take advantage of low labor costs and a large consumer market. What do you think of this opinion?

It is true that Thai investment in Vietnam has grown strongly in recent years, and Thailand currently ranks ninth among 116 countries and territories investing in Vietnam.

However, we come to Vietnam not to take advantage of low labor costs and a large consumer market, but because we highly appreciate the investment environment in your country, as well as the Vietnamese government’s policies to create favorable conditions for foreign investors, and its international integration policy.

Nguyen Hoa