Kirin Capital and Duong Quang Ngai (QNS) discuss on the development of Vietnam’s sugar industry

On May 11, 2023, Kirin Capital’s representatives and the leadership of Duong Quang Ngai Joint Stock Company (QNS) had a meeting at QNS’s headquarters. The participating delegates include: Mr. Vo Thanh Dang, Chairman of the Board and CEO of QNS, Mr. Tran Ngoc Phuong, Deputy CEO of Finance and Chief Accountant, Mr. Nguyen Huu Tien, Deputy CEO of Business, along with the investment team from Kirin Capital led by Mr. Fermen Lee, Investment Director. 

Kirin Capital delegation and QNS leaders at the meeting

During the meeting, Mr. Vo Thanh Dang shared with the representatives of Kirin Capital about QNS’s businesses. The company is currently engaged in the production and processing of various diversified products, including prominent ones such as QNS Sugar, Vinasoy Soy Milk, Thach Bich Mineral Water, Biscafun Biscuits, Dung Quat Beer, and industrial sweeteners (glucose). In addition to the processing sector, the company is also involved in trading, providing comprehensive services, and import-export activities.

QNS has gradually established its brand in the market and become one of the leading companies in Vietnam in terms of manufacturing and processing sugar-related products. For four consecutive years (2014, 2016, 2018, and 2020), QNS has been honored with the National Brand title, acknowledging the contributions and continuous efforts of the company.

QNS is increasingly affirming its position in the Vietnamese market

Furthermore, during the working session, QNS and Kirin Capital also discussed the situation of sugar imports in Vietnam in recent years and QNS’s plans to expand its production and business operations in the period of 2023-2025.

Mr. Vo Thanh Dang evaluated the current challenges in the sugar production and business market in Vietnam: the limited supply of sugarcane sources and the issue of sugar raw material smuggling, despite efforts to address these issues by relevant authorities.

Based on in-depth discussions, both parties presented specific solutions to overcome challenges and maximize the potential of the sugar industry. In the near future, QNS plans to expand the cultivation area for raw materials to meet market demand and reduce the reliance on imported materials to enhance profitability. Additionally, this expansion will create more job opportunities for the people of Quang Ngai province.

Through the meeting, Kirin Capital and QNS expressed their interest and commitment to actively collaborate towards the development of the sugar industry in Vietnam.