(The Philippine Star) Updated December 20, 2009 12:00 AM
MANILA, Philippines - Tiens Group Co. Ltd, China’s multinational conglomerate in biotechnology, education, retail, tourism, finance, international trade and e-business, is keen on making the Philippines its global logistics hub to complement its varied business interests in the country.
The company is investing an initial $20 million in the country’s logistics business. This will complement the company’s interest in retail, tourism, finance, international trade, and e-business.
Board of Investment (BOI) managing head Elmer C. Hernandez recently signed the memorandum of agreement (MOA) on the said project.
Hernandez indicated that the company’s initial investment in logistics will be followed by more investments in other areas. “The Group’s long-term plan is to go into biotech traditional drug manufacturing in this country,” Hernandez said.
Established in 1995, Tiens Group Co. Ltd. is doing business in more than 190 countries. It has set up 50,000 franchised stores around the world and has branches in 110 countries.
The company is trying to gain a foothold in the Asia-Pacific region through Indonesia where the Asia-Pacific Region of Tiens Group is based. Since 2000, the company’s business presence has expanded to the entire Asia-Pacific region, including Malaysia, Singapore, Brunei, Thailand, Vietnam, India, Japan and the Philippines. The company has about two million active distributors in the region alone.
Although the company is engaged in highly diverse businesses, its primary interest is in health food, health care products, skin care products and home care products. It is competing with direct selling cosmetic brands like Sweden-based Oriflame, US-based Amway and Avon. Since its establishment, Tiens has developed and produced 37 nutrition supplements, which include wellness products and dietary supplements. – Philexport News and Features
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