Liwayway Group invests $10 million in Bangladesh

MANILA, Philippines — The Liwayway Group, the local firm behind the Oishi brand, is venturing into the Bangladesh market after successfully making its foray in South Africa.

Liwayway chairman Carlos Chan told The STAR the company is investing $10 million initially to bring its snack food business to Bangladesh.

Chan said the investment would include the purchase of property as well as construction of a production facility in the capital city of Dhaka.

The plant is expected to be operational within the first half of next year, he said.

Chan noted the upside potential of Oishi in the Bangladesh market, citing the country’s 170 million population and the not so saturated snack food industry.

“The market looks good there,” he said.

Bangladesh will be the ninth international market where the homegrown brand has expanded and set up operations.

The company now has manufacturing plants in China, Vietnam, Thailand, Cambodia, Myanmar, India, Indonesia and South Africa.

Liwayway announced last year its foray into the South African market through a $15 million investment.

Chan said the operations of its plant in South Africa has commenced early this year.

At present, Liwayway has 15 production facilities across China, the most among its international operations.

In the Philippines, the company operates four plants.

The company, through the Oishi brand, offers a wide array of products such as beverage, as well as savory and sweet snacks.

Chan said the company has not been affected significantly so far by the soaring prices of sugar and the implementation of the new tax reform law.

He said sales in the Philippines in the first quarter has increased five percent year-on-year.