FLC plans to pour US$1.5 billion in agribusiness

15:18 | 06/11/2018 Investment

Property developer FLC Group said it will inject US$1.5 billion into agricultural development across 15,000 hectares of lands in Vietnam during 2018 – 2019. 

flc plans to pour 15 billion usd in agribusiness
FLC and the Vietnam Farmer’s Union recently signed a MoU as part of a cooperation program on farming development in contribution to new-style rural building and agricultural restructuring

In line with the plan, a move to grow FAM – a FLC subsidiary specializing in the production and import-export of farm produce, the group is committed to support farmers in improving their productivity, product quality, and distribution.

Most recently, FLC and the Vietnam Farmer’s Union signed a memorandum of understanding as part of a cooperation program on farming development in contribution to new-style rural building and agricultural restructuring. Accordingly, the sides will assist farmers in building farming cooperatives meeting standards to be part of FLC’s production chain. They will promote safe farm produce and high-tech production models invested by the group. Human resources training, technology transfer, and field trip organisation are also included in the engagement.

Last year, FLC signed an agreement with Japan’s Farmdo Company to jointly develop a 4,000ha hi-tech agricultural farm combining solar energy – one of the world’s most advanced models in the sector. This model uses double-sided solar panels to cover agricultural land, allowing for renewable energy, even as crops continue to receive most of the sunshine and agricultural machinery remains stable.

In addition, Farmdo will also transfer advanced farming technologies used in Japan to FLC.

Theo VNA