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Van Phat Co., Ltd: Overcoming difficulties to success 

 Saturday, June 30,2018

AsemconnectVietnam - By moving an old sugar mill from Phu Tho province to Son Hoa district, Phu Yen province, and overcoming numerous difficulties, Van Phat Co., Ltd has now become a successful enterprise and a pathfinder in sugar production, generating jobs and income for local people.

Few people know that the person at the helm of Van Phat boat had to counter numerous difficulties. In 1972, settling down in Saigon with a few sets of clothes and two young children, Ms Bui Thi Quy, now Director General of Van Phat Distillery Company, had to change from job to job to ensure a living. In 1974, she decided to engage in the cane sugar business, buying sugar from Quang Ngai and selling to Western provinces. Gradually, the business became stable and she decided to engage in the production of sugar, alcohol, fertiliser and become Van Phat Co., Ltd.

In 2003, the Ministry of Agriculture and Rural Development decided to close down a number of loss-making sugar refineries, Ms Quy made a courageousdecision, buying Viet Tri sugar mill (Phu Tho province) and established Van Phat Distillery in Son Hoa (Phu Yen). However, in its early days, the company was confronted with numerous difficulties in prices of raw materials and products, and low income. Furthermore, in 2010-2011, due to economic recess, Van Phat mill was in danger of collapse. With some credit, she restored the production, achieving success and creating jobs for local people.
To continue competition with foreign businesses, Van Phat upgraded the production line with the capacity increasing from 500 tonnes of sugar cane a day to 3,500 tonnes and eventually to 5,000 tonnes. Together with producing liquor, alcohol and fertiliser, the company has decided to produce condensed syrup and fertiliser in Gia Lai province with the investment of VND326 billion. In Phase 1, the project will produce syrup with 1,000 tonnes of sugar cane a day and fertiliser with 10,000 tonnes of sugar cane a year using materials from the same sugar mill with close-circuit production and advantage in competition. The project will create stable jobs for the local people, reducing poverty, increasing budget and promoting economic restructuring in Gia Lai province.
The success of Van Phat is partly due to the cooperation of sugar cane planters. As a matter of fact, Van Phat has considerably invested in the planting of sugar cane. Supporting sugar cane planters in capital, species and fertilizer with low-interest rate and buying sugar cane at higher prices, Van Phat has gained confidence and established a strong backing among farmers. In addition, the company has offered gifts to farmers on the occasion of the New Year and harvest times, enhancing the cooperation between businesses and farmers.
In 2013-2014, Van Phat increased the planting of 3,070 hectares of sugar cane and purchased from an additional 490 hectares, accounting to nearly VND33 billion. In 2014-2015, the company continued to invest in 4,165 hectares with 3,845 new hectares and purchased sugar cane from other areas. In 2015-2016, Van Phat has invested VND50 billion in existing 4,000 hectares and additional 2,000 hectares, trying to attain 340,000 tonnes of sugar cane. By investing in material supply region, the company has contributed to the economic development of Phu Yen province, creating jobs for local people and assisting sugar cane planters in fair competition.
In addition to annual support for the production, Van Phat has contributed some VND100 million for social and charity work. Director General Bui Thi Quy has distributed bicycles and books to poor students nationwide, assisting them to develop welfare for their families.
Source: Vccinews.vn

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