12:35 | 06/08/2015 Investment
(VEN) - More than 10 large-scale agricultural projects have been kicked off since February 2015 by domestic businesses.
Domestic groups and corporations are increasingly interested in agriculture
Ninh Thuan Province has planned and allocated sites for four key seafood farming areas where hundreds of large seafood culture facilities will be located. According to President of the Board of Management of the Minh Phu Seafood Corporation Le Van Quang, the first phase of the corporation’s pure tilapia and shrimp production modernization project has been implemented. In addition to Ninh Thuan, several other provinces including Soc Trang and Ca Mau have also facilitated the corporation in terms of breeding area planning.
According to Director General of the An Giang Fruit-Vegetables and Foodstuff JSC (Antesco) Huynh Quang Dau, Antesco has not participated in public-private partnership (PPP) models in An Giang, but has involved in a pilot loan series program initiated by the province since 2014 and was granted a VND100 billion preferential loan for investment in its Binh Long fruit and vegetable processing plant, with an annual designed capacity of 10,000 tonnes of processed fruit and vegetables. Antesco will promote cooperation with local farmer households via allowing them to pool with their agricultural land parcels.
In addition to above mentioned projects, dozens of other agricultural projects have been deployed in the country since the beginning of the year. For example, the Him Lam Group has coordinated with the Lien Viet Post Bank to implement a VND20 trillion macadamia development project in the Central Highlands and the Hoa Phat Group has invested more than US$300 million in a feed mill. A series of large groups and corporations including Vinaseed, Dabaco, T&T, Trung Thanh, TH True Milk, Vinamit, Vingroup, Viettel, FPT and Vinh Hoan have also invested hundreds of millions of US dollars in their agricultural projects related to safe vegetables, seafood, dairy and feed.
The domestic agricultural and rural development has attracted domestic large groups and corporations. According to the Ministry of Planning and Investment’s statistics, as of May 2015, total foreign direct investment (FDI) via 500 projects registered to invest in the fields of agriculture, forestry and fishery only reached US$3.7 billion. So, domestic businesses have proved superior to foreign companies in terms of scale of agricultural investment.
Many large domestic groups and corporations including Vinaseed, Dabaco, T&T, Trung Thanh, TH True Milk, Vinamit, Vingroup, Viettel, FPT and Vinh Hoan have invested hundreds of millions of US dollars in their agricultural projects.