On the morning of Sep 15th, 2023, in Houston, Texas (USA), An Phat Holdings has just signed a MoU for a strategic cooperation agreement with leading enterprises in the US in the fields of packaging, bioplastics and logistics.
Attending the ceremony, on behalf of An Phat Holdings, there were Mr. Pham Anh Duong – Chairman of the Group, Mr. Pham Do Huy Cuong – CEO of the Group and other senior leaders.Regarding the US partners, there were representatives of enterprises and investors from the US.
The signing ceremony of the Memorandum of Understanding (MoU) took place under the witness of Mr. Tran Duc Thang – Member of the Central Committee of the Communist Party of Vietnam, Secretary of Hai Duong Provincial Party Committee representing the delegation of Hai Duong province and Mr. Nguyen Trac Ba – The Consul General of Vietnam in Houston and Congressmen of Texas, United States of America.
Specifically, An Phat Holdings signed a MoU for strategic cooperation with 5 businesses: Dakota Western Corporation, CJ Bio America INC, Katoen Natie Company, Hellmann Worldwide Logistics Company, One Circle Logistics Company. Accordingly, An Phat Holdings has signed a commitment to cooperate in developing products and services with partners in the US in the period 2023 – 2028.
On the strategic cooperation agreement with the US partners, Mr. Pham Do Huy Cuong, CEO of An Phat Holdings expressed: “For more than 10 years, the US has been an important and a key market of An Phat Holdings. An Phat Holdings’ export revenue in the US market has been growing steadily despite the recent fluctuations in the world economic situation. I expect that the signing of the MoUs today will further promote An Phat Holdings’ business activities in the USA in particular and the North American market in general; Thereby helping An Phat Holdings achieve our goals of expanding the market, enhancing the brand, and building a sustainable business.”
The cooperation signing event between An Phat Holdings and American partners is within the framework of the business trip of the delegation of Hai Duong province in the US to promote and introduce the potential, policies and investment opportunities in Hai Duong province, especially in the field of services and high-tech industries. Within the framework of the business trip, the leaders of Hai Duong province and businesses had the opportunity to meet and work with agencies and organizations in the US, visit and learn from large corporations and innovative startups here.
More than 10 years of conquering the US market
Among 18 member companies, An Phat Holdings has nearly 10 exporting companies in the field such as: packaging, raw materials and additives for the plastic industry, compostable products, building material plastic products… and a few member companies based in the US operating in the fields of green materials, compostable products, logistics…
Since 2012, the US has been one of the key markets of An Phat Holdings with products exported to the US market such as packaging, SPC flooring, compostable products and materials. The total revenue in the US market always accounts for nearly 10% of the Group’s total revenue.
Over more than a decade of conquering the US market, An Phat Holdings has continuously left significant imprints here. Since 2021, the Group has successfully registered a trademark for products under AnEco brand in the US, thereby bringing the products to the Amazon e-commerce platform (US). Not long after that, An Phat Holdings’ products presented on Amazon’s Top Best-seller – ‘Amazon’s Choice’ list with revenue expected to surge nearly 27 times after only 3 years of launching product on this platform. Currently, the Group has representative offices, member companies and affiliated units presented in the US market.
“We determined that the US is not only a market for export and attract investment but also the key for An Phat Holdings to build a strong brand because a fastidious market will help the brand leverage its image more quickly,” An Phat Holdings representative said.
An Phat Holdings assesses that to successfully enter a demanding market like the US, the Group must be able to meet stringent standards and achieve specific quality certifications for each product. In addition, some partners in the US also have their own requirements for factories about safety, factory hygiene, standards for production processes… so An Phat Holdings needs to demonstrate abilities to meet those standards.
Besides export activities, An Phat Holdings is currently promoting cooperation with partners in the US through investment promotion programs to materialize the goal of building a strong brand in the US and expanding the market globally.
