Lao Government Delegation Visits Hongta Group

Source from:  TobaccoChina Online 07/29/2009

A Lao government delegation visited Hongta Group in southwest China's tobacco-producing Yunnan Province on July 20, to inspect cigarette production at the group and the application of technologies in tobacco growing in the well-known Yuxi City, and to promote mutual understanding and further strengthen bilateral cooperation. During the visit, Hongta Group President Li Huiming and other leaders and senior executives held talks with the Lao guests on issues of common concern. Speaking at the talks, Hongta Group Vice-President Zhang Jianhua recalled that in 2007, Hongta Group, in accordance with the requirement for strategic development of international markets, acquired a controlling stake in the Laos-China Fortune Tobacco Co., to realize local operation of an entity in Laos. Hongta Group Vice-President Jiang Shunhua introduced to the guests the basic situation of Hongta Group and its process of developing international markets. Jiang said that according to Hongta Group's plan for strategic development of international markets, the Laos-China Fortune Tobacco Co. will be defined as an overseas tobacco-growing base, a tobacco-cutting and exporting base and a cigarette processing and exporting base for Hongta Group in Southeast Asia. Speaking on the same occasion, a deputy governor of the Lao province of Savannakhet said that the Laos-China Fortune Tobacco Co. has developed rapidly, saying that in 2008 alone, the Laos-China Fortune Tobacco Co. paid over 5 billion Lao Kip (over 575,370 U.S. dollars) in taxes to the Lao government. In future, the Lao side will make great efforts to promote better development of the Laos-China Fortune Tobacco Co., the deputy governor said. Enditem