In 1987, Vietnam adopted an "open door" economic policy by the introduction of Law on Foreign Investment with the aim to encourage foreign organizations and the companies to invest in Vietnam. Malayan Flour Mills Berhad, Malaysia (MFMB) has been interested in investment opportunities in Vietnam. In 1992, the representatives of MFMB participated in a delegation led by the Prime Minister of Malaysi
a to visit Vietnam and discuss opportunities for economic co-operation with Vietnam. Subsequently, MFMB established a joint venture with VINAFOOD I to produce flour in Cai Lan Port, Quang Ninh Province. The joint venture commenced its commercial operation in 1998. By the beginning of 1999, the factory almost reached full designed capacity thus triggered the need for capacity expansion. Recognizing the potential of the flour market in Vietnam and based on its sound financial resources, MFMB has decided to apply for the license to invest in the second flour milling project in Vietnam. This project is a further step in MFMB's long-term investment plan in Vietnam, and will set the ground for MFMB to expand its business to other sectors such as animal feeds production and animal husbandry. Mekong Flour Mills Ltd was subsequently issued with an investment license on 30 June 2000. The process of investment in capital construction was about 3 years beginning in 2000 and the Company officially commissioned its operation from April 2003 until present time. The company has witnessed strong growth through out its years of operations and continue to be regarded as one of the prominent flour miller in the country. This mill has created tremendous job opportunities for the people of southern Vietnam with the consumption of flour will continue to increase rapidly in Vietnam due to:
1.Increase of income & awareness of high nutritional value in wheat products.
2.Changing eating habits of Vietnamese to flour-based products.
3.Increase of industrial population (migration from rural to urban areas). BUSINESS PHILOSOPHY:
We create value for our customers by providing differentiated offerings based on our best cost production, consistent quality, service and innovative solutions. We want to be recognized as an organization committed to the well beings of our shareholders, customers, employees and community. Mekong Flour Mills Ltd has adopted the following set of Business Principles to challenge the status quote and to offer noticeably better processes and results. Mekong Flour Mills Ltd is committed to an ethical business approach through:
•Compliance with the law.
•Honoring business obligations.
•Ensuring integrity in our business dealings. Mekong Flour Mills Ltd is committed to customer-focus approach by:
•Understanding our clients' history, culture, decision-making process, key people, vision, mission, strategy, goals and strengths..
•Focusing on our customers' needs.
•Focusing on building trust in the working relationships with our clients.