CJ Group expands investment in Vietnam
VOV.VN - The Republic of Korea’s CJ Group will invest an additional sum of US$500 million in Vietnam, bringing its total registered capital to US$900 million, said CJ Vietnam CEO Chang Bok Sang.
The investment will focus on development of the CGV cinema system, cooperation with VTV in producing and exporting films, and food production and logistic activities.
The move aims to realize CJ Group President’s target of turning Vietnam into one of three biggest investment destinations of CJ globally, after the Republic of Korea and China by 2020.
CJ will further expanding its investment in Vietnam in the coming times, Chang Bok Sang emphasized.
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CJ began operating in Vietnam in 1998 in diverse fields, such as agro-fishery, bakery, home shopping, entertainment, communications, logistics, animal feed, food, film making, cultivation and real estates. It obtained an annual growth of 26.73% in the 2011-2015 period.
In agriculture alone, CJ has invested in four animal feed plants in Vietnam with a combined capital of US$200 million.
CJ is considering investment in the retail sector. It has completed market research and is seeking strategic partners to carry out its plan in the 2016-2017 period, Chang Bok Sang said.