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Leading by example: CPC puts Taiwan’s New Southbound Policy into practice.

Leading by example: CPC puts Taiwan’s New Southbound Policy into practice.

26 March 2018

 

Groundbreaking ceremony held to mark CPC’s reinvestment in its Vietnam joint-venture lubricants and logistics plant.

 

CPC has responded to the government's New Southbound Policy by embarking on oil and gas-related investments in Vietnam, Australia and Indonesia. In particular, its stake in a lubricant blending plant and storage/distribution site in Vietnam is the first instance of a state-owned enterprise implementing the government's policy for boosting trade and investment flows between Taiwan and its ASEAN and south Asian neighbors.

 

And so 18th January this year was the day chosen for celebrating that achievement. CPC joined its joint-venture (JV) partners Unishine Chemical Corp. and Excel Chemical Corporation in holding the groundbreaking ceremony for their Maxihub Company Limited’s new plant at its location within the Ong Keo Industrial Park in Vietnam’s Dong Nai Province.

 

CPC Chairman Chein Tai and Vice-President Ann Bih flew to Vietnam to host the event. In view of its significance to practical implementation of the New Southbound Policy, CPC invited a number of distinguished guests: Presidential State Counselor Huang Kun-fang; Huang Zhi-fang, Chairman of the Taiwan External Trade Development Council (TAITRA); Wu Fu-sheng from the State-owned Enterprise Commission, Ministry of Economic Affairs; Chairman Yu Chun-yan of CTCI, consulting engineers; and Tsai Yun-zhong, head of the Economic and Trade Negotiation Office of the Executive Yuan (Taiwan’s cabinet).

 

Also in attendance to offer their congratulations on the new venture were the Vice-President of Viet-Jet Aviation Group, Mr. Yukio Ng; Director of the Taipei Economic and Cultural Office in Ho Chi Minh City, Mr. Liang Guang-zhong; Mr. Gao, Commissioner of the Industrial Area Authority of Dong Nai Province; and representative well-wishers from the local chapters of Asian chambers of commerce and the Taiwan Business Association.

 

In the evening of the day before the groundbreaking ceremony, 17th January, CPC Chairman Tai hosted a dinner for all the invited guests at the New World Saigon Hotel. In a speech, Mr. Li Tian-yi, Honorary President of the Asia Taiwan Chamber of Commerce recounted how he had helped Maxihub Company managers look at more than ten potential sites before they finally chose the Ong Keo Industrial Park as the location for their factory.

 

Presidential State Counselor Huang recounted how he had invested in an animal feed plant in Vietnam 20 years ago and has since seen the country’s economy grow steadily. He went on to describe how the population of 96 million’s youthfulness – 40% under 25, 85% under 55 - confers a commercially advantageous demographic dividend by creating a huge and growing consumer market. Moreover, he said, Vietnam’s national culture is closely similar to that of Taiwan, something that works in favor of Taiwanese investment.

 

CPC’s Joint Venture Business Division began planning and preparation of the groundbreaking ceremony as far back as October last year, holding several meetings with Maxihub Company and CTCI Corporation people to discuss the venue layout, the program and on-site equipment. To make sure things went according to plan, some of the Division’s people then flew to Vietnam to oversee the set-up for the ceremony.

 

The ceremony officially got under way at the appointed hour of 10.00 am. The weather gods smiled down and made it nice and sunny. CPC Chairman Tai Chein, Chairman Sun of Unishine Chemical Corp. and President Wu of Excel Chemical Corporation together offered prayers for divine benevolence toward the occasion. With smoldering incense in hand, the distinguished trio piously bowed three times – the first to pray for good weather, the second for a smooth-running and successful gathering, the third to beseech the deities for good health and safety in the workplace for everybody involved in the project. Then there followed the actual ground-breaking, by the three principals now equipped with spades. The first dig was for the business to enjoy good fortune, the second for construction of the new plant to be well carried out and the third for peace and harmony to prevail. The ceremony came to a successful conclusion to the sound of firecrackers.