Swire group bolsters investment in Vietnam

October 26, 2023 | 10:07
(0) user say
British conglomerate John Swire & Sons has revealed its expanding role in Vietnam's economy, emphasising growth in aviation, healthcare, and sustainable development.
Swire group bolsters investment in Vietnam

Prime Minister Pham Minh Chinh welcomed Guy Bradley, chairman of the British multinational conglomerate John Swire & Sons (Swire Group), at the Government Office on the afternoon of October 24. The meeting highlighted Swire's expanding footprint in Vietnam’s vibrant economy.

Celebrating over 200 years of history, Swire Group reported a robust revenue of approximately $16 billion in 2022, signalling not only its global commercial success but also its dynamic operational diversity.

"Our longstanding relationship with Vietnam, flourishing over the last 25 years across various sectors, underscores our belief in the country’s potential and our commitment to contributing positively to its economy," said Bradley.

The PM congratulated the British group on its success and encouraged further expansion in key areas such as aviation services, trade and industry, logistics, real estate, healthcare, and the development of production, distribution, and retail networks within Vietnam.

He emphasised the importance of investing in human resource development, particularly fostering high-quality talent and practical cooperation with Vietnamese universities and vocational training institutions.

Highlighting the role of cutting-edge technology, prime minister Chinh urged Swire Group to augment the value-added component of its production line, boosting localisation and the utilisation of Vietnam's auxiliary technologies.

He also stressed the significance of integrating Vietnamese enterprises into Swire's global supply chain, urging a focus on renewable energy usage and a balance between economic development and social responsibility.

These initiatives, he noted, are crucial in aiding Vietnam's green growth objectives and effective climate change response.

Bradley provided an overview of Swire’s long-term operational plans in Vietnam, sharing insights into the Group’s commitments to sustainable development, green growth, and the circular economy.

“Since its inception in Vietnam in 1988, the group has been involved in various sectors, including aviation through Cathay Pacific (a subsidiary of Swire Group), real estate, and more recently, beverage production. In January, Swire Coca-Cola Ltd. acquired Coca-Cola Beverages Vietnam Ltd., bolstering employment with over 2,000 direct and 20,000 indirect local jobs,” he shared.

Acknowledging Vietnam's continuously improving investment climate, Bradley expressed great confidence in the success of Swire's operations, "Our commitment to Vietnam is unwavering. We are keen to deepen our investments, particularly in the aviation and healthcare sectors, further contributing to the nation's development."

Swire Coca-Cola records first-half revenue of $238 million in Vietnam Swire Coca-Cola records first-half revenue of $238 million in Vietnam

Swire Coca-Cola, a wholly owned subsidiary of Swire Pacific Ltd., reported revenue of $237.68 million from its Vietnamese business in the first half of 2023.

Coca-Cola reaffirms almost 30-year commitment to investment and sustainable development Coca-Cola reaffirms almost 30-year commitment to investment and sustainable development

Prime Minister Pham Minh Chinh met with James Quincey, chairman and CEO of Coca-Cola Company, on September 20 in New York during the PM's trip to attend the 78th session of the United Nations General Assembly.

By Nhat Minh

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional