09:10 | 08/05/2017 Economy
Twenty-six businesses in Vietnam have registered to invest VND5 trillion (US$221 million) in farming and production of Ngoc Linh ginseng in the Nam Tra My district of the central province of Quang Nam.
The chairman of the district, Ho Quang Buu, told Vietnam News that six enterprises have joined a survey on growing Panax vietnamensis (Vietnamese ginseng), while 20 others will invest in pharmaceuticals, essential oils and cosmetics, as well as tonic drinks and capsules from ginseng.
So far, the district has developed 27 farms in three communes, with over 800,000 saplings of ginseng and herbs for local farmers.
Nam Tra My and two other districts in Kon Tum province – Tu Mo Rong and Dak Glei – are designated areas for mass development of the ginseng in mountainous farms at 1,400m to 2,600m above sea level, according to Buu.
Earlier this year, the district introduced its first Ngoc Linh ginseng and medical herbs centre as a major source of seed and saplings.
In 2016, the Ministry of Science and Technology’s Intellectual Property Agency recognised the Geographical Indication (GI) of Ngoc Linh for ginseng root products in Quang Nam and Kon Tum provinces.
The district itself also signed a Memorandum of Understanding (MoU) on tourism, agriculture, conservation and the development of Ngoc Linh ginseng with Hamyang County in the Republic of Korea (RoK) two years ago.
The district will host the first Ngoc Linh Ginseng Festival – part of cultural events of the sixth Quang Nam Heritage Festival – from June 13 to 16.
Ginseng was first found on Ngọc Linh Mountain on the border between the Central Highlands Kon Tum province and Quang Nam in the late 1960s.