Viet Nam’s Sao Mai Group and two South Korean companies, the JVC Hightech Energy LTD and J ONE Nuri, have signed a memorandum of understanding (MoU) for investment cooperation and technology transfer in agriculture.

The cooperation aims to train Vietnamese farmers to master cultivation technologies and support manufacturers with export potential.

On behalf of the South Korean delegation, CEO of J ONE Nuri Company Kim Heung-young said that Sao Mai Group can consider his company as a branch in East Asia.

He emphasised the two reasons why South Korea chose Viet Nam as a destination, namely, South Koreans' love for Viet Nam and its favourable climatic conditions for agricultural development.

The South Korean business delegation expressed their desire to find cooperation opportunities between the two countries in the field of technological application, transfer and innovation, and investment connections in agriculture, especially high-tech agriculture.

According to Kim, the co-operation can be very wide and diverse.

“The cooperation not only supports manufacturers with export potential but also aims to train Vietnamese human resources to grasp techniques for farming and processing products. I think this is an opportunity for Vietnamese agriculture to develop sustainably in the future,” said Kim.

Vietnamese and South Korean business representatives share information at a signing ceremony on Friday. Photo nongthonviet.com.vn

In addition, the South Korean side also wished to cooperate with the Vietnamese Government, businesses, institutes, and universities in establishing agricultural training facilities as well as charity funds, for a better society, the South Korean CEO emphasised.

Meanwhile, speaking at the MoU signing ceremony on Friday, CEO of Sao Mai Group Pham Van Dao said that in recent years, the group had shifted from real estate development to renewable energy, tourism, seafood and education, among others.

“With this MoU, it is expected that in the near future, the cooperation between Sao Mai Group in particular and Viet Nam in general with the South Korean side will be further strengthened,” Dao said.

Vice Chairman of the Viet Nam General Association of Agriculture and Rural Development Nguyen Tri Ngoc affirmed the Vietnamese side will create all possible conditions for cooperation which will open a new direction for other Vietnamese enterprises in this field.

During their visit to Viet Nam, representatives of South Korean enterprises introduced a number of typical agricultural products, which are also the country's strengths, including cordyceps, ginseng and products derived from agricultural materials such as masks, shampoos and collagen. In addition, they also made a demonstration of smart farm models being developed in their home country. — VNS