One of the Pan Group subsidiaries, officially introduces Ban Mai rice to the local market on October 1. — VNS Photo

HA NOI (Biz Hub) — The name of Trans-Pacific Corporation or Pan Pacific was changed to The Pan Group on October 1, chairman Nguyen Duy Hung announced.

Hung said at the event marking the group's one-year journey developing agricultural produce from Viet Nam, that the group, which was one of 50 largest listed enterprises in Viet Nam in terms of capital, produced the agricultural products under the theme of "Farm-Food-Family".

It has developed the supply chain to provide the local market with the cleanest and safest agricultural products. In the next step the group will build a distribution network to trade the products at reasonable prices, to attract customers.

Currently, the group's assets have reached VND3.63 trillion (US$161.33 million). It is also the dominant shareholder among the local agriculture companies of Vietnam National Seed JSC (NSC), Long An Food Processing Export JSC (LAF), fisheries producer Aquatex Bentre (ABT) which are worth VND1.5 trillion ($66.66 million) in capital.

Meanwhile, international funds of TAEL Partners, IFC, and Mutual Fund Elite GIC are partners in the group.

Also at the event, Pan Food, the subsidiary, introduced Ban Mai rice, grown locally with a clean and closed production chain. The rice, in packages of 5kg each, was distributed to the local market the same day.—VNS