Puratos Grand Place Vietnam

Debt : October 2017

Operating in Vietnam since 1994, Puratos Grand-Place Vietnam is a chocolate manufacturer specialised in chocolate covering and chocolate decorations.

Amount

€ 1,377,750.00

Type of investment

Debt

Development impacts

Local economic growth
Private sector consolidation/innovation
Food security & rural development

Beneficiary locations

Asia: Vietnam

Investment field

Enterprises

Activity

Agribusiness - Cocoa processing

Organisation

Puratos Grand Place Vietnam

Website

http://www.puratosgrandplace.com/

Domicile

Vietnam

More investments in

Puratos Grand Place Vietnam

Subsidy € 85,910.00 (2018)

Opened in 2009, the factory produces 3000 tons of chocolate per year for sale to prestige hotels and restaurants, bakeries, confectioners and ice-cream manufacturers. In addition, PGPV exports part of its production to North America and Asia.

Early 2011, PGPV launched the first chocolate made entirely in Vietnam, from the cultivation of the cacao to the final product. PGPV is to date the first producer in this country to integrate the cacao sector with its production. The use of cacao cultivated locally replaces the importation of raw materials required for the chocolate-making process. It also enables PGPV to bring down its ecological footprint and to maintain full control of quality at all the production stages.

Development impacts

Local economic growth
Employment effects: At the full production cycle, the company will hire 15 FTE to manage the grinding line.
Indirect employment effects: The company currently works with 2000 smallholders. Cocoa sourcing is difficult in Vietnam as the demand is increasing. The company aims to keep the attractiveness of Cocoa crops by providing a decent revenue to the small holders as Cocoa is in competition with other crops such as rubber and pomelo. Therefore, the company also offers training to improve the quality and yields of cocoa crops.
Private sector consolidation/innovation
Production technology: The grinding line will be supplied by Bulher (Germany); it will be the first grinding line in the country.
Completion/interlinking of the production structure: The investment will allow the full transformation of cocoa in Vietnam.
Food security & rural development
Improved economic opportunities for farmers: The company currently works with 2000 smallholders. By improving the quality of the beans and offering training to the smallholders, their revenue are expected to increase. This is a primary goal of the company as Cocoa is in competition with other cultivation such as rubber and pomelo. Therefore this should create/improve economic opportunities for smallholders cultivating cocoa.
Employment creation in rural areas: Sourcing of cocoa beans is not enough to cover the demand and therefore the company would like to increase cocoa plantation and the number of smallholders dedicating to cocoa cultivation. Therefore, the number of jobs related to cocoa production is expected to increase.