Vinamilk Corporation Signed a Memorandum Ceremony worth 500 million USD with a Japanese Partner to Invest in Vinh Phuc on Beef Breeding.

08/12/2021

(HMC) – On November 25, 2021, in Tokyo (Japan), Vietnam Dairy Products Joint Stock Company (Vinamilk) and its member company Vilico successfully signed a memorandum of understanding with the group. Sojitz (Japan) and Vinh Phuc Provincial People’s Committee on investment and development of beef projects in Vietnam. This is a memo of understanding of a project with a total investment of about 500 million USD, exchanged by the parties at the Vietnam – Japan Investment Promotion Conference under the witness of Prime Minister Pham Minh Chinh on the occasion of his visit to Japan. Official visit to Japan.

Memorandum was awarded by the parties at Vietnam – Japan Investment Promotion Conference under the witness of Prime Minister Pham Minh Chinh

The Memorandum of Understanding on the beef project in Vinh Phuc signed by Vinamilk, Vietnam Livestock Corporation – JSC (Vilico), Vinh Phuc Provincial People’s Committee and Japan Sojitz Corporation includes a number of contents such as joint ventures. invest in establishments breeding – processing – distributing beef products in Vietnam, supplying to the national market, and exporting; In the next stages, there will be other protein-based products with deep processing technology, and the scale of cooperation is expected to reach 500 million USD.

In particular, phase 1 of the project is expected to come into operation in 2023 with a capacity of about 30,000 beef cattle/year, with a closed processing facility and modern technology. The scale of cooperation between investors is approximately 3,000 billion VND, of which the total project investment in Vinh Phuc province is 1,670 billion VND.

(From left) Representatives of Sojitz Group, Vinamilk, Vinh Phuc province, and Vilico signed a memorandum of understanding on cooperation in investment, project development, and beef cattle business.

At the signing ceremony on November 24, Secretary of Vinh Phuc Provincial Party Committee Hoang Thi Thuy Lan said that the project implemented in Vinh Phuc will help promote cooperation in agricultural development between Vietnam and Japan. In general, Vinh Phuc province and Japanese enterprises in particular, in many aspects from technical cooperation, research and infrastructure development to joint ventures and direct investment in the field of agricultural technology. high. With the potential and existing advantages of Vinh Phuc province, the project’s goal is in line with the agricultural development strategy in the new period, creating a strong boost to the province’s agriculture and livestock industry.

Mr. Ryutaro Hirai, Vice Chairman of Sojitz Group, and Ms. Hoang Thi Thuy Lan, Secretary of Vinh Phuc Provincial Party Committee witnessed the signing ceremony of the memorandum of understanding between the parties.

In 2021, Sojitz Group and Vilico, a member company of Vinamilk, reached a cooperation agreement and established a joint venture, Viet Nhat Livestock Company Limited (JVL), to breed, process, and import livestock. and distribute beef products in the Vietnam market. Vilico owns 51% and Sojitz owns 49% of the capital in this joint venture.

In Vietnam, Vilico is a company with a long tradition and long-standing brand name in animal husbandry, processing, and distribution of meat products. After becoming a member of Vinamilk, Vilico has more advantages of financial resources, management, and breeding technology; an advanced management system has been successfully applied by Vinamilk in many dairy farms according to the following standards. international standards in Vietnam.

On November 23, representatives of Sojitz, Vinamilk, Vilico businesses met the Prime Minister during his meeting with large Japanese corporations.

Sharing about the project’s orientation, Mr. Trinh Quoc Dung, General Director of Vilico, Executive Director of Vinamilk’s Material Area Development said: “It can be said that this is a project converging natural factors. , geographical advantage, human harmony. We have found a suitable partner, promoting each other’s strengths. Advanced technology and long-term experience of Japan combined with the strengths of Vinamilk’s resources and markets will create superior and high-quality products at reasonable prices to serve and satisfy customers. growing consumer demand. On the basis of Vinh Phuc province creating favorable conditions in terms of investment policies and encouraging the development of high-tech agriculture, along with resources and methodical and long-term strategies from the parties, this project is scheduled to be completed. We hope to lay a solid foundation for new developments in the livestock industry and the processing of safe and high-quality meat products in Vietnam in the coming years.”

In addition, Sojitz Group is one of Japan’s large-scale and fast-growing multi-industry groups, which has participated and invested in Vietnam for many years in the fields of fertilizer production. , animal feed production, processed food production, convenience store chain, and logistics… In Japan, Sojitz is currently one of the major importers and distributors of beef from North America and Australia. The large scale along with marketing and business activities in the livestock sector.

Sharing more about the business strategy, a representative of Sojitz said: “With the goal of building a stable food supply system in Vietnam and Southeast Asia, we will work with strategic partners. to promote business, combining the strengths of Vilico and Vinamilk with the know-how of Sojitz’s livestock product business. Through the establishment of this joint venture, we hope to provide safe and reliable high-quality beef products to the Vietnamese market and vice versa, export Vietnamese beef products. to potential markets in the future.”

This Memorandum of Understanding was signed under the witness of the Prime Ministers of Vietnam and Japan, demonstrating the importance of trade cooperation between businesses of the two countries, elevating the strategic relationship between the two countries not only in political, but also economic, cooperation and development, especially in strategic industries such as agriculture and livestock in which both countries have strengths.

Source: Ho Chi Minh Media Center

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