Dong Nai lures foreign investment in agriculture

The Dong Nai Biotechnology Application Center has attracted many agricultural projects

Prior to that, Dong Nai attracted many major foreign-invested enterprises which have reaped great successes in animal feed production and establishing farm networks such as C.P, Japfa, Emivest and Cargill.

Foreign investment flows have also concentrated on farming in Dong Nai after the province reached cooperative agreements with many investors in agriculture and building agricultural links ranging from production, semi-processing and processing to distribution.

According to Consul General of the Republic of Korea in Ho Chi Minh City Park Noh Wan, high-tech farming and agricultural materials and seeds are the Republic of Korea’s major strengths. Dong Nai is currently one of the top two localities in Vietnam in terms of Korean investment. This explains why apart from industries, many Korean agricultural businesses are looking to invest in Dong Nai.

During his recent visit to the province, Edward Kowalewski, Director of New York State International Trade Programs, expressed the desire of US companies to invest in Dong Nai’s agricultural processing and high-tech farming after recognizing that the province has favorable land and climatic conditions for agricultural development and export processing.

Apart from farming, livestock breeding, and fertilizer and pesticide production which have attracted many FDI businesses, a number of foreign agricultural businesses want to partner with Vietnamese companies. Malaysia’s Green World Genetics Director Lim Kiang Ping said, “The company is looking for partners in Dong Nai and Ho Chi Minh City in order to produce seeds and transfer technology to local farmers to achieve higher productivity and better quality crops.”

According to the Dong Nai Province Statistical Office, Dong Nai imported about US$46 million worth of fertilizer and more than US$163 million worth of pesticide in the first nine months of this year. It is expected that the figures will increase to more than US$62 million and US$231 million by the end of the year, respectively. In addition, the province plans to buy more than US$1.1 billion worth of maize and feed for the livestock breeding sector. For this reason, Dong Nai currently prioritizes investment in agriculture-related production areas.

The provincial agricultural sector is driving towards safe production and combining farming with processing in order to increase export revenues and find stable markets. It is expected that with cooperation and guidance with major domestic and foreign investors in Dong Nai, local farmers will improve production and increase their incomes.

During a recent meeting on the provincial economy in the first nine months of this year, Dong Nai Province People’s Committee Chairman Dinh Quoc Thai said, “As Vietnam is deeply integrating with the global economy, agricultural products are facing increasing competition. In this light, Dong Nai is currently prioritizing investment in agriculture, particularly high-tech farming, deep processing and export.”

Thanh Thanh & Ngoc Anh