Domestic companies sign deals in livestock industry

The Vietnamese livestock industry is expected to attract professional producers in the coming years.

Domestic companies sign deals in livestock industry

Pork is an essential food item and accounts for a large proportion in the structure of food consumption. — Photo vtv.vn

Deals between domestic enterprises with strong potential will help the industry compete.

Co-operation and production chains through official contracts between producers, slaughterhouses and retailers are forecast to thrive.

The livestock sector is striving to achieve a production value of nearly VND9.4 trillion (US$405.2 million) this year, a growth rate of 4.5 per cent compared to last year.

According to the Ministry of Agriculture and Rural Development (MARD), the total meat produced was estimated at 5.14 million tonnes last year, down 4.1 per cent.

Pork is an essential food item and accounts for a large proportion in the structure of food consumption. However, pork output decreased by 380,000 tonnes last year, equivalent to 9-10 per cent compared to 2018, which greatly influenced the domestic food market.

 

Experts believe the development of value chains for livestock products, especially pig breeding, from production to market, with the participation of large domestic enterprises was necessary.

This is key to fast and sustainable development, helping the Vietnamese livestock industry, which was facing a competitive challenge from imported meat in new-generation free trade agreements, said MARD.

Hung Vuong Corporation (HVG) and Thadi Agriculture Farming Processing and Distribution Joint Stock Company, a subsidiary of Truong Hai Auto Corporation (Thaco), signed a strategic agreement in HCM City this month.

Under the agreement, Thadi would buy a 35 per cent stake in HVG.

It will invest VND2 trillion ($86.3 million) to acquire a 65 per cent stake in a Thadi - HVG joint venture to raise breeding pigs in An Giang and Binh Dinh provinces, which will breed 45,000 piglets this year, with a first batch of 15,000 in March.

Commenting on the co-operation between the two domestic enterprises, Minister of Agriculture and Rural Development Nguyen Xuan Cuong said it was a good thing that the two companies focused on developing livestock products – a very important component of Vietnamese food security, and together with other economic sectors, continued to focus on integrated agriculture. — VNS

 
 

Other News

.
Vietnam’s economic growth forecast to rebound strongly in 2022
Vietnam’s economic growth forecast to rebound strongly in 2022
BUSINESSicon  13/01/2022 

Some foreign financial organisations have issued relatively positive predictions for Vietnam’s economy this year, with growth expected at 6.5 - 6.7 percent.

Three factors behind FDI attraction in Vietnam
Three factors behind FDI attraction in Vietnam
BUSINESSicon  13/01/2022 

Low labour costs, a geographical location close to Asian supply chains, and Japan and the Republic of Korea (RoK)'s efforts to promote greater overseas investment are considered as three factors in boosting Vietnamese foreign direct investment (FDI).

Power Development Plan VIII under revision again
Power Development Plan VIII under revision again
BUSINESSicon  13/01/2022 

The draft Power Development Plan VIII is being revised again and expected to be submitted to the Prime Minister for approval in the first quarter of 2022.

M&A in technology booms during pandemic
M&A in technology booms during pandemic
BUSINESSicon  13/01/2022 

The Mergers and Acquisitions (M&A) market in Viet Nam has been going through a downturn due to the pandemic, but the technology sector is bucking the trend.

Auction mechanism for sustainable development of renewable energy market under scrutiny
Auction mechanism for sustainable development of renewable energy market under scrutiny
BUSINESSicon  13/01/2022 

A Policy Dialogue on “Auction Mechanism for Sustainable Development of the Renewable Energy Market” was held via an online format on January 11 by independent think tank Vietnam Initiative for Energy Transition (VIETSE).

Transport Ministry proposes allowing private firms to invest in airport projects
Transport Ministry proposes allowing private firms to invest in airport projects
BUSINESSicon  13/01/2022 

The Ministry of Transport has proposed mobilizing private resources under the public-private partnership model for new airport projects, such as Quang Tri, Sa Pa and Cao Bang.

Trinh Van Quyet’s transaction canceled, securities accounts blocked
Trinh Van Quyet’s transaction canceled, securities accounts blocked
BUSINESSicon  12/01/2022 

An unreported transaction made by Trinh Van Quyet, Chair of FLC Group, worth VND1.6-1.8 trillion on January 10 has been canceled as he did not report the deal.

Tan Hoang Minh Group withdraws from Thu Thiem land auction, accepts loss of deposit
Tan Hoang Minh Group withdraws from Thu Thiem land auction, accepts loss of deposit
FEATUREicon  12/01/2022 

Tan Hoang Minh Group has sent a letter to the Party, State and Government leaders, and HCM City People’s Committee about its decision to withdraw from Thu Thiem land purchase that it won at auction in mid-December.

Land prices soar amid fear for Omicron
Land prices soar amid fear for Omicron
FEATUREicon  13/01/2022 

While affordable apartments are no longer seen in Hanoi and HCM City, apartments priced at hundreds of billions of dong are becoming popular.

Bad debts need to be curbed
Bad debts need to be curbed
BUSINESSicon  13/01/2022 

After the Circular issued by the State Bank of Vietnam on debt restructuring, many bad debts of commercial banks have become non-bad debts because they do not have to change the debt groups.

Vietnam ranks third worldwide in terms of rubber export value
Vietnam ranks third worldwide in terms of rubber export value
BUSINESSicon  12/01/2022 

Vietnam ranked third in the world in terms of rubber export value, with 3.24 billion USD in 2021, up 36.2 percent from the previous year, the Ministry of Agriculture and Rural Development (MARD) said.

China reopens one more border gate with Vietnam for fresh fruit imports
China reopens one more border gate with Vietnam for fresh fruit imports
BUSINESSicon  12/01/2022 

Chinese authority on January 12 re-opened its Hekou International Border Gate for imported fresh fruits, including dragon fruit, and frozen foods from Vietnam, according to the Ministry of Industry and Trade.

Vietnamese banks’ charter capital surged in 2021
Vietnamese banks’ charter capital surged in 2021
BUSINESSicon  12/01/2022 

Banks increased their charter capital by more than VND110 quadrillion in 2021 - the highest annual growth to date - to enhance financial strength and meet the central bank’s regulations.

VN to boost domestic 'supporting industries'
VN to boost domestic 'supporting industries'
BUSINESSicon  12/01/2022 

Vietnam is looking to work closely with foreign firms such as Samsung and Toyota to boost the supply of parts within the country, according to the Ministry of Industry and Trade.

Market potential of elderly service industry growing fast
Market potential of elderly service industry growing fast
BUSINESSicon  13/01/2022 

The increasing demand for services for the elderly has created investment and business opportunities for local and foreign investors.

VIETNAM BUSINESS NEWS JANUARY 12
VIETNAM BUSINESS NEWS JANUARY 12
BUSINESSicon  12/01/2022 

Tra fish exports predicted to hit 1.7 billion USD this year

Vietnam first Southeast Asian country to earn over US$1 billion from exports to Hungary
Vietnam first Southeast Asian country to earn over US$1 billion from exports to Hungary
BUSINESSicon  12/01/2022 

Vietnam has become the first Southeast Asian nation to earn over 1 billion USD from exporting goods to Hungary and the European country’s leading exporter from this region since 2000, according to the Ministry of Industry and Trade.

Vietnam has 683,600 operational firms: economic census
Vietnam has 683,600 operational firms: economic census
BUSINESSicon  12/01/2022 

As of December 31, 2020, Vietnam counted 683,600 operational enterprises, up 35.3 percent from 2016, the 2021 economic census revealed.

Hanoi to welcome launch of 26,000 apartment units in 2022: C&W Vietnam
Hanoi to welcome launch of 26,000 apartment units in 2022: C&W Vietnam
BUSINESSicon  12/01/2022 

Around 26,000 apartment units are expected to be launched in Hanoi in 2022, signaling a vibrant outlook for the segment, according to real estate service provider Cushman & Wakefield (C&W) Vietnam.

Laos top recipient of Vietnam’s overseas investment
Laos top recipient of Vietnam’s overseas investment
BUSINESSicon  12/01/2022 

Laos has been the largest recipient of Vietnam's overseas investment so far, with 209 projects totalling 5.1 billion USD in registered capital, Minister of Planning and Investment Nguyen Chi Dung has said.

 
 
 
Leave your comment on an article

OR QUICK LOGIN