On October 4, Nafoods Group JSC and the People’s Committee of Tay Ninh Province signed a memorandum of understanding to develop a complex of fruit trees and a factory to process fruit for export.

Accordingly, the two sides will develop an area of organic fruit trees in the province covering some 10,000ha with total investment of VND3 trillion (US$128.6 million) between 2019 and 2023.

After the region is able to supply at least 150 tonnes of fruit per day, Nafoods will build a factory in Tay Ninh to manufacture fruit products for export. This complex is expected to generate export value of at least $100 million each year.

Provincial authorities also pledged to allow the investor to rent at least 20ha of land to develop a seed germination garden to provide seedlings for the region. They will also assist with the development of infrastructure associated with the area.

Aside from support policies regulated by the State, the provincial administration will also provide specific mechanisms to encourage other businesses, cooperatives and local residents to join the project.

Meanwhile, Nafoods will provide qualified seedlings, fertilisers and plant protection products, as well as training in cultivation techniques for local farmers. It also vowed to apply scientific-technological solutions to improve product quality and purchase all produce of the zone at reasonable prices.

Nguyen Manh Hung, chairman of the Board of Directors of Nafoods Group, said his firm aims to have 60 per cent of products meeting GlobalGAP standards and the other 40 per cent meeting organic standards to serve export markets. — VNS