VinEco will firstly produce clean fruits and vegetables for its supermarkets and convenient stores in Viet Nam. — VNS Photo

HA NOI (Biz Hub) — Giant property developer Vingroup has officially joined the domestic agriculture industry through its brand VinEco, the group said on March 23.

With its charter capital of VND2 trillion (US$93.8 million), VinEco intends to be involved in agricultural activities across the country and focus on applying advanced technology to farming. The company will also provide clean fruit and vegetables in keeping with the standards set by VietGAP and GlobalGAP (GAP stands for good agriculture practices).

The group said VinEco would also build a closed and concentrated farming model following strict standards of hygiene safety, and simultaneously employ and train local farmers.

The company would work with international agriculture experts from countries, such as Israel, Japan, and the Netherlands to take advantage of their knowledge, technology, engineering, and similar agricultural equipment.

In particular, the output of agricultural products will be traded at the group's chain of supermarkets Vinmart and convenience stores Vinmart + nationwide. It is expected to quote reasonable prices to customers.

VinEco also plans to grow organic fruit and vegetable for export. — VNS