Vietnam and the Republic of Korea on May 27 inked a memorandum of understanding (MoU) on the implementation of a project building new-style rural areas and developing the agricultural value chain in the central province of Ninh Thuan.
The Vietnamese signatories were the Ministry of Agriculture and Rural Development and the Ninh Thuan People’s Committee. Their RoK partners were the RoK International Cooperation Agency (KOICA) and the Cheiljedang Group (CJ) specialising in food and distribution.
From now to May 2017, the project will be carried out in Tam Ngan 2 hamlet, Ninh Son district, at a cost of 1.7 million USD funded by the RoK sides.
It will train locals to build new-style rural areas and operate agricultural equipment banks and credit funds.
The project will also make improvements to the local living environment, water supply systems and schools, while promoting agricultural productivity.
KOICA Vice President Doo Jung Soo said that the project will not only benefit local residents but also boost the economic collaboration between Vietnam and the RoK. When successful, it will be expanded nationwide.
Meanwhile, CJ Vice President Lee Jae Wook said his firm’s participation in the project is part of its long-term business strategy, which will include many more future projects in the country.
Under another MoU agreed by the Ninh Thuan People’s Committee and CJ in September 2013, they will grow 500-600 hectares of chilli to provide some 3,000 tonnes of dried products a year for CJ’s processing plants in the RoK and other countries.-VNA
The Vietnamese signatories were the Ministry of Agriculture and Rural Development and the Ninh Thuan People’s Committee. Their RoK partners were the RoK International Cooperation Agency (KOICA) and the Cheiljedang Group (CJ) specialising in food and distribution.
From now to May 2017, the project will be carried out in Tam Ngan 2 hamlet, Ninh Son district, at a cost of 1.7 million USD funded by the RoK sides.
It will train locals to build new-style rural areas and operate agricultural equipment banks and credit funds.
The project will also make improvements to the local living environment, water supply systems and schools, while promoting agricultural productivity.
KOICA Vice President Doo Jung Soo said that the project will not only benefit local residents but also boost the economic collaboration between Vietnam and the RoK. When successful, it will be expanded nationwide.
Meanwhile, CJ Vice President Lee Jae Wook said his firm’s participation in the project is part of its long-term business strategy, which will include many more future projects in the country.
Under another MoU agreed by the Ninh Thuan People’s Committee and CJ in September 2013, they will grow 500-600 hectares of chilli to provide some 3,000 tonnes of dried products a year for CJ’s processing plants in the RoK and other countries.-VNA
