Recently, Vina Joint Venture Company – BAT (“VINA – BAT JV”) held the official launch ceremony in Ho Chi Minh City. Attending the event were Deputy Minister of Industry and Trade Tran Quoc Khanh, representatives of the Ministry of Planning and Investment, the Management Board of Industrial Zones, Export Processing Zone, Ho Chi Minh City and the ministries concerned .. .
VINA – BAT JV is a joint venture between General Tobacco Company of Vietnam (VINATABA) and British-American Tobacco Company Marketing (Singapore) Private Limited (BAT), has chartered capital of 138.6 billion or 6.6 million USD. Among them 51% longer VINATABA BAT is 49%. Venture is based on nearly 4,500 m2 area in Vinh Loc Industrial Park, Binh Chanh District (City) and focused on the manufacture of cigarettes with the premium brands of BAT.
Speaking at the launching ceremony, the Chairman VINATABA Vu Van Cuong said: “With the establishment of the joint venture company Vina-BAT, the Corporation Vietnam Tobacco and BAT Group has developed cooperation ties now closer from yarn processing to production of cigarettes. Venture company VINA – BAT will produce the Group’s cigarette brands, BAT, and the label of drug VINATABA own joint venture company “.
Thus, after the joint venture tobacco producer BAT-VINATABA in Dong Nai went into operation in 2001, far VINATABA and BAT has formed a joint venture on producing high-end cigarettes within the brands licensed co-production and consumption in Vietnam earlier in order to increase revenues for the state budget and contribute to its anti-tobacco illegally imported by the Government.