Vietnamese businesses expand agarwood processing regionally and globally

On June 16, Global Agarwood Development Company Limited in Laos (100% invested capital from Vietnam) held the inauguration ceremony of the agarwood processing factory in Vientiane (Laos). The scale of the factory is 5 hectares with 150 essential oil distillation furnaces.

Global Agarwood Development Company Limited in Laos inaugurated an agarwood processing factory.

According to Mr. Nguyen Van Binh, Chairman of the Board of Directors of the company, the new factory has about 500 workers, the output is 100,000 Aquilaria trees per year, equivalent to about 1,000 tons of raw agarwood. Currently, the company has invested in buying more than 500,000 Aquilaria trees in Laos for processing. It is expected that in the next 5 years, the investment capital will increase to 30 million USD with the number of workers will increase to about 1,000 to instruct farmers on Aquilaria tree planting techniques in 1,000 hectares of forest to supply raw materials for the factory.

Currently, the member company of Global Agarwood Development Company Limited in Vietnam has 2 agarwood processing factories in Ho Chi Minh City. Both of these factories have the same capacity as the factory in Laos and mostly use domestic raw materials. However, the raw material area in Vietnam is almost exhausted, the time to grow Aquilaria trees is long, from 8 to 10 years to be able to be exploited, so it is necessary to expand the raw material area in the Southeast Asia region - the origin of Aquilaria trees to process the precious product of Aquilaria.

The opening of a new factory in Vientiane will help Global Agarwood Development Company Limited expand its raw material area. At the same time, it will promote export activities to many countries and territories in the Middle East, China, Japan, Korea, Taiwan... when market demand is still increasing.

Source link: https://thanhnien.vn/doanh-nghiep-viet-mo-rong-che-bien-tram-huong-ra-khu-vuc-va-toan-cau-185230616154719481.htm