Firms ink agricultural development deal

Monday, Jan 18, 2016 09:00

HA NOI (Biz Hub) — The Viet Nam Cooperative Alliance (VCA) will join hands with Komtek Joint Stock Co in developing value chains for agricultural products coming from co- operatives in Viet Nam, as part of a strategy to improve the products' competitiveness in the context of global economic integration.

The consensus followed a three-year Memorandum of Understanding inked between VCA president Vo Kim Cu and chairman of Komtek Co Nguyen Hoang Ly in Ha Noi last week.

The two sides agreed to establish funds to financially support vulnerable players – particularly members of the cooperatives – while information technology will be used to build a database and enhance management of the VCA.

The VCA will also promote its farming products and call for domestic and foreign investment in the agriculture sector. Trade promotions for the products will be organized in China, South Korea, Japan and Russia in the second and third quarters of 2016.

In his speech at the signing ceremony, Cu stressed the importance of developing linkages between agricultural producers, researchers, banks and the VCA, to ensure sustainable logistics and supply chains. — VNS

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