This is the first time Phuc Sinh Group has received foreign investment after 22 years of operation. The rate of selling shares to foreign partners has not been disclosed. According to Mr. Phan Minh Thong - General Director of Phuc Sinh Group - at present, the company has developed very well in terms of construction, sustainable development, factories, human resources... With that experience, receiving good investment will bring the company to a higher level.
Phuc Sinh Group is valued at about 320 million USD by foreign investment funds.
According to Mr. Thong, over the past 13 years, many corporations and financial companies such as investment banks have approached Phuc Sinh, but only recently has the company chosen a suitable partner. "One of the things that I found very encouraging was that when talking to foreign investment funds, they said that Vietnamese agricultural companies have not been evaluated appropriately, and are valued very cheaply compared to companies in Thailand, Malaysia or Indonesia, even the Philippines. The second thing is that we are valued at about 320 million USD, which also makes me feel satisfied," Mr. Phan Minh Thong added.
Mr. Phan Minh Thong said that Vietnam's agricultural sector is developing strongly and the opportunity to attract foreign investment is huge. Especially after the Covid-19 pandemic, Vietnam has received much attention from customers because it is a market that supplies food and foodstuffs to many countries around the world.
At the end of 2023, Phuc Sinh continued to maintain its leading position in the country's spice exports (Phuc Sinh has been leading since 2007) with an overall growth rate of 18% compared to 2022. In particular, the company's spice exports to the EU market increased sharply to 15.1% market share (in 2022, the company achieved a market share of 8.4%) and is also leading among enterprises exporting this product.
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