VinGroup and TH True Milk have registered to invest 1.2 trillion VND (53 million USD) in ginseng and herbs farm projects in mountainous Nam Tra My district of Quang Nam province.

A 10-year-planted Ngoc Linh ginseng is introduced at a Ginseng Fair in Nam Tra My district in Quang Nam province

Chairman of the district People’s Committee Ho Quang Buu said that it’s the two biggest investment projects since the district launched its master plan on the development of the Ngọc Linh ginseng, cinnamon and herbs in 2014.

Buu said the two investors have begun surveying mass production from Ngoc Linh ginseng and planning for material farms and support industries for herb production.

He said the district wants investment to develop 15,000ha of ginseng in the district by 2030.

According to Quang Nam province, the Government agreed to fund 2 trillion VND (88.5 million USD) for infrastructure projects in the district.

Currently, 900 households farm 1,200ha of ginseng, cinnamon and herbs in the district, while businesses have 100ha.

The district also hosts regular ginseng fair to link farmers, investors and buyers and to draw tourists to the district.

According to the district, more than 2,300 tourists visited the ginseng fair, and 53kg of Ngoc Linh ginseng has been sold for 4.7 billion VND (208,000 USD) since 2017.

Each kilo of Ngoc Linh ginseng is priced from 100 million VND (4,400 USD) and 200 million VND (8,800 USD) in Vietnam.

Farmers in the district can earn 3 million USD per ha after five years growing ginseng.

The Ngoc Linh ginseng has been preserved as a precious and endangered flora gene in the province, along with poor man’s ginseng or condonopsis, pepper, cinnamon, large-size rattan and corn in Quang Nam province.-VNA