Vietnam, Japan ink deal to develop agricultural value chain

Hanoi (VNA) – The Vietnam Cooperative Alliance (VCA) and Japan’s Komtek Corporation will cooperate in developing value chains for agricultural products of cooperatives in Vietnam as a way to help improve the country’s competitiveness.

VCA President Vo Kim Cu and Chairman of Komtek Corporation Nguyen Hoang Ly inked a three-year Memorandum of Understanding on developing microeconomics through sustainable value chain.

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

The VCA will also promote its farming products and agricultural investment into Vietnam domestically and overseas.

A workshop is scheduled between the VCA and its provincial chapters, cooperatives and agribusiness across the country in January. Trade promotion for the products will be organised in China, the Republic of Korea, Japan and Russia in the second and third quarters.

Speaking at the signing event in Hanoi on January 14, Vo Kim Cu said it is important to develop small-scale businesses and the linkages between agricultural producers, researchers, banks and the VCA before building larger-scale cooperatives and cooperative alliances toward sustainable logistics and supply chain.

Komtek Chairman Vu Hoang Ly said the firm would help farmers and cooperatives access soft loans from the Government and international credit agencies.-VNA