Cpv Food Co., Ltd. (Vietnam)

The subject was established in Aug 2018 as a whole subsidiary of C.P. Vietnam Corporation and was officially inaugurated in Dec 2020 after 2 years of being granted an investment certificate. Recently, the subject has changed type of business from One member limited liability company to Limited liability company. C.P. Vietnam Corporation has transferred all capital to Modern State Investments Limited (70.82%) and CPVN Limited (29.18%). These companies are also the main shareholders of C.P. Vietnam Corporation. The subject is known as the largest complex of CP Group following the model of closed process 3F “Feed- Farm – Food” in Southeast Asia with total investment capital of USD 250 million. Its purpose is to supply chicken products for foreign markets only. In 2022, the company was ranked in the "Top 10 sustainable enterprises in Vietnam" by the Vietnam Chamber of Commerce and Industry.Specifically, the CPV Food complex in Binh Phuoc includes a food factory, an animal feed factory, 1 egg incubation factory, many hatcheries and broiler farms. On 25 Oct 2022, the subject exported the first shipment of 33.6 tons of chicken meat to the Japanese market. According to the plan, CPV Food Binh Phuoc Complex can produce and process 50 million chickens per year in phase 1 (2019-2023) and up to 100 million chickens per year in phase 2 (after 2023).Since its establishment date, the company has encountered many difficulties due to the Covid-19 epidemic. Just returning to a new normal state, the world economy is on the decline, consumer demand has decreased, greatly affecting its production and business activities. However, the company still maintains animal welfare, biosafety and food safety standards of the World Organization for Animal Health (OIE) and importing countries, so it is still highly appreciated by the international market and is increasingly expanding, with stable revenue and increasing contribution to the budget. In just the first 8 months of 2023, the company has paid VND 42 billion to the State budget, higher than the whole year 2022 (VND 36.55 billion).