Japanese conglomerate seeks to invest in Da Nang

Friday, May 10, 2019 07:50

Representatives from Ise Foods Inc and Da Nang's People's Committee pose for a photo after the meeting. — Photo danang.gov.vn

Ise Foods Inc expressed interest in investing in the hi-tech agriculture, food processing, health-care and high-end hospitality sectors in the central coastal city of Da Nang during a meeting with local authorities this week.

Founded in 1912, the company is now the largest egg producer in Japan with annual revenue of more than US$1 billion. It is also involved in hi-tech farming, food processing and renewable energy, according to the provincial portal.

At the event, chairman of the municipal People's Committee Huynh Duc Tho said he hoped that with its strengths, Ise Foods would speed up investment and technology transfer activities in Viet Nam in general and Da Nang in particular.

He vowed local authorities would create the most favourable conditions for the Japanese firm to implement its projects in the locality.

Earlier in March, Ise Foods Inc inked a co-operation deal on the production and distribution of fresh eggs with Ba Huan Joint Stock Co.

Following the deal, the Vietnamese poultry company will be responsible for supply while Ise Foods will distribute the products at Japanese supermarkets and stores in Viet Nam. Ba Huan must ensure the eggs meet Japanese standards, with strict breeding and preservation requirements. The Vietnamese company would supply about 10,000 eggs for Ise Foods to send to Japanese restaurants, supermarkets and malls. — VNS

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