Joint venture inked for Vietnam’s first agri-industrial complex

Four partners Wednesday signed a €300 million (US$380 million) joint venture to set up Vietnam’s first agri-industrial complex in the southern province of Dong Nai.

The 20-year joint venture involves state-owned Dong Nai Food Industrial Corporation (DONATABA), the fund management arm of Prudential, the French group Glon and the joint-venture company of Proconco.

The joint venture will build an Agro-Park on 1,780 hectares in Dong Nai Province’s Thong Nhat and Xuan Loc districts, with construction to start in 2011.

Nguyen Thi Le Hong, general director of DONATABA said the initial investment in the Agro-Park would be about VND500 billion ($29.6 million).

The Agro-Park will provide farm-to-plate food and livestock processing, including breeding, slaughtering and processing, Hong said.

“From the farm to the family’s table is our mission’s strategy - to bring the best convenience and choice to Vietnamese housewives at the supermarkets everyday,” she said. “This is also the first kind of service in Vietnam to date.”

Tran Van Vinh, deputy chairman of Dong Nai People’s Committee said Agro-Park would create a new face for the agri-industrial sector in Vietnam’s southern region.

Reported by Vinh Bao

Update from: http://www.thanhniennews.com/business/?catid=2&newsid=44247