The Ministry of Agriculture and Rural Development and the Korean Pan Asia Co., Ltd. are jointly studying the model of an agriculture wholesale and trading complex for Hanoi.

The ministry will coordinate with the Industry and Trade Ministry and the General Association of Agriculture and Rural Development to modernise the distribution system of the seafood and farm produce in the capital city.

Equipped with IT auction system, the complex is expected to reduce the go-betweens in trade to create bigger bring economic efficiency for local farmers, and help stablise the market prices for their produce.

It is also hoped to supply quality goods for the 2019 Asian Sports Festival, and benefit exports via the remote auction system with the Republic of Korea and other countries.

Additionally, the Cold Chain System linking with the complex will be built to better the frozen food and materials distribution network.

A master plan for this project is scheduled to complete within this year.

Deputy Minister of Agriculture and Rural Development Hoang Van Thang highlighted the Memorandum of Understanding on the complex signed between the ministry and President of Pan Asia Huh Sul during his March visit to Vietnam.

Thang added that the company has also inked a similar document with the General Association on cooperation in the management and operation of the complex and human resource training.-VNA