Trade Minister explores market opportunities in Japan
VOV.VN - A Vietnamese delegation from the Ministry of Industry and Trade led by Minister Nguyen Hong Dien on December 18 visited Jinro Inc., a branch of the Republic of Korea (RoK)’s HiteJinro Group in Japan, to explore cooperation opportunities.
Founded in 1924, HiteJinro is the world's leading producer of soju and other alcoholic beverages in the RoK. It has six corporate headquarters in many countries globally, tasked importing products manufactured in the RoK and then distributing them in Japan.
Currently, the group is injecting capital into the Southeast Asian market, with plans to build a Soju factory in Vietnam’s Thai Binh province, in order to triple its overseas sales by 2030.
The US$100 million project is expected to start construction in the first quarter of 2025 and to come into operation in the second quarter of 2026.
During the working session, a Jinro representative revealed that the company is now looking for quality products in Japan to export to the US and other neighbouring markets, as well as distributing them in the Japanese market itself.
The company is willing to become a distribution channel to introduce Vietnamese goods into its system if local goods to Japan meet the standards set by the stringent market and the tastes of Japanese consumers, he affirmed.
Dien, for his part, emphasised that Vietnam can currently be considered as the world's manufacturing hub, which is expected to create favourable conditions for Vietnamese goods to enter the group’s distribution chains both in Japan and globally.
According to the Minister, the group has been taking the full advantage of Free Trade Agreements (FTAs) and co-operation frameworks that Vietnam, Japan, and the RoK have joined in order to reduce production and logistics costs, as well as tightening relations with neighbouring markets.
He expressed his hope that the Thai Binh Soju factory would soon be put into operation to bring Vietnamese goods into the group's distribution chain.
In his view, Vietnam also has many potential products which may be suitable for HiteJinro group, such as beer, wine products, seafood, dried foods, and various fast food items.
He expected that Vietnamese products would soon make their presence in the group's distribution chain in Japan and globally moving forward.
