Tea sector moves to attract investment

The tea sector will hold its first investment and trade promotional conferences in Phu Tho and Hanoi on October 15 and 16, hoping to attract more domestic and foreign investment in the sector, expand the market and increase its exports.

This information was released at a press briefing in Hanoi on October 9. The conferences will also be a forum for domestic and foreign businesses to sign contracts and develop co-operative programmes.

Nguyen Kim Phong, president of the Vietnam Tea Association said that Vietnam now ranks the fifth in the world in tea production and exports. The country’s total tea plantation area is currently 131,000ha and is expected to reach 150,000ha by 2010.

However, Vietnam’s tea export price is US$1.3 per kilogram while the world’s average is US$2.31 per kilogram. This is due to the lack of capital, techniques and machinery to invest in production as well as poor promotional activities. There should be a comprehensive investment and trade plan to develop the tea sector to its full potential, he said.

Source: VietNamNet/VOV