Viet Nam is the fastest growing market for URC Group and URC Vietnam is of strategic importance to it for high-quality exports, Laurent Levan, president and CEO of the latter company, said.

Speaking to the media on Tuesday, he said in Viet Nam URC’s brands have achieved stronger growth than the overall category.

Its growth this year increased by 15 per cent against the FMCG sector growth of 4 per cent.

But counterfeiting is still a challenge for producers, the Government and consumers in Viet Nam, according to the company.

Next year, it plans to invest US$1.5 million in technology and product quality.

As part of its 2019 strategy, URC has joined as a founding member of the Packaging Recycling Organization Vietnam (PRO Vietnam) to promote a circular economy model through product packaging recycling made in a more accessible and sustainable manner.

The goal of PRO Vietnam is for the entire packaging of member businesses to be recycled by 2030.

Since starting operations in Viet Nam in 2003, URC has invested $200 million and created more than 3,000 jobs.

It has five plants in the country. — VNS