Vingroup establishes agriculture company with the aim of leading a clean and green sector.
Vingroup has announced it will enter the agriculture sector under the brand name VinEco, with the aim of providing safe and clean food resources and exporting some of Vietnam's dominant agricultural products.
With charter capital of VND2 trillion ($94 million), VinEco will build farms throughout the country with the high technology needed to grow many types of organic vegetables according to VietGAP and GlobalGAP standards.
The company will plan production areas under a centralized and closed model. All stages, including research, seed technology, production, harvesting, post-harvest storage, and transport will be implemented under scientific processes, with strict adherence to quality and food safety and hygiene. VinEco will also apply the most modern and advanced technology in production lines, with the aim of optimizing efficiency and product quality. Israel, Japan, and the Netherland are expected to partner VinEco in the transfer of technology, seeds and agricultural equipment.
Vinmart's supermarket network and the Vinmart+ convenience store chain will be the last link of the line. Due to Vinmart having a presence throughout the country, all VinEco's agricultural products have ready-made buyers and it will also provide other partners with safe fruit and vegetables at reasonable prices.
Besides developing agricultural products, VinEco will also focus on researching methods to produce dominant products in Vietnam's agricultural sector, contributing to promoting exports and enhancing product value.
With the mission of changing methods in Vietnam, VinEco is expected to be a model that has an effect on businesses, farmers and society, towards a clean and green agriculture sector.