A factory of Phuc Sinh JSC in the southern province of Binh Duong. (Photo courtesy of the firm) Phan Minh Thong, General Director of the Phuc Sinh JSC, said thefund would not participate in operating the business but simply providefinancial support. This has been the first time the company received foreigninvestment in 22 years of operation. The deal was completed after 18 months ofnegotiation.
“In the context of a limited capital market, having an investmentwith a moderate capital price is very meaningful. We are valued at U320 millionUSD. The amount is not too large but not small either, which could help usbuild two coffee processing factories this year,” Thong said.
He added that in recent years, many companies wanted to invest in PhucSinh. However, they were refused because of not properly evaluating Vietnameseagriculture value, which is very low compared to companies in Thailand,Malaysia, Indonesia, and even the Philippines.
“Vietnam's agricultural industry is developing strongly and hasmany opportunities to attract foreign investment. Phuc Sinh also wants to raisemore capital to develop factories, and also call for additional capitalspecifically for the K-Coffee coffee chain. However, we only accept financialinvestment and do not need strategic investors,” he said.
Established in 2001, Phuc Sinh is one of the leading exporters ofpepper, coffee and agricultural products in the country. In the spice industry,the company has been leading since 2007.
A recent report from SFV-Export (the project to strengthen exportcapacity for small and medium enterprises in Vietnam's spices, vegetables andfruits industry) showed that Phuc Sinh is the largest exporter of Vietnamesespices to the EU, with 15.1% market share, a sharp increase from 8.4% in2022./.
VNA
