Vietnam's animal feed sales reach US$6 billion and expand by 13-15% annually. These figures show the huge potential of Vietnam's livestock development, a driving force for developing the animal feed industry. Given enormous growth potential, Vietnam is attracting many well-known animal feed manufacturers in the region and the world, including New Hope Group.
From 2018 to 2020, New Hope Group continued to invest VND4,000 billion to build more feed factories and pig farms in Vietnam (in Binh Phuoc, Binh Dinh and Thanh Hoa provinces). When these projects came into operation, they helped stabilize pig prices, change animal farming approaches, barn specifications and livestock farming standards in Vietnam. With this investment, New Hope became a major foreign animal feed producer and hog producer in Vietnam.
With the desire to bring safe and quality food to Vietnamese consumers, New Hope Binh Phuoc Livestock Co., Ltd, affiliated to New Hope Group, is investing a handsome amount of US$135 million in Vietnamese livestock factories covering 75 ha in Hon Quang district - the largest farm in Southeast Asia, capable of processing 48,000 hogs a year. Along with two pig farms in Thanh Hoa and Binh Dinh provinces, the third in Binh Phuoc will enable New Hope to realize its important goals: Quickly completing livestock farms in 2021, with an average production capacity of 930,000 pigs per year.
New Hope Group aims to become one of top three hog producers in China and slaughter 25 million pigs a year from 2022. The investment in Vietnam is aimed to expand its footprint in Southeast Asia and become a leader among eight existing feed producers in Vietnam to bring safe and hygienic meat to the market, and at the same time, stabilize the supply before the outbreak of diseases. After being put into operation, farms will create job opportunities and train highly professional human resources for animal husbandry and system operations.
Mr. Gu Jun Jie, General Director of New Hope Binh Phuoc Livestock Co., Ltd, said, “The project chain affirms New Hope's commitment to long-term business and sustainable development in the Vietnamese market. Thanks to the support of the Government, Binh Phuoc leaders, partners and customers, combined with its experience and financial capacity, New Hope will confidently develop strongly in the coming time, giving a helping hand to Vietnam to realize the goal of bringing the Vietnamese livestock sector into the globally advanced class in the region by 2030. Needless to say, we are at the best time for strong development. In the coming time, we remain steadfast in our expansion and development goals, constantly add value to our customers, and pursue Vietnam’s sustainable livestock growth and economic prosperity."
To enhance the performance, the modern farms are equipped with advanced livestock farming technologies and equipment. All processes are run and monitored by an automatic system to reduce operating costs and be more environmentally friendly with a high standard wastewater treatment system applied. The operation of modern pig farm projects in Binh Phuoc province will help change farming concepts and models, and stimulate farming modernization in Binh Phuoc in particular and in Vietnam in general.
The application of modern technology in livestock farming, the application of global standards and the operation of a fully automated farm system in a closed chain is a new model, demonstrating New Hope’s strategic breakthroughs and long-term development orientation. This completely coincides with Binh Phuoc province’s policy on investment attraction and agricultural modernization, which is Binh Phuoc's strength.
Commenting on the Binh Phuoc investment environment, he pointed out that the government of Binh Phuoc province is very active and very professional, willing to listen and solve difficulties and obstacles faced by businesses. That's why New Hope decided to invest in the first factory in Binh Phuoc - a major livestock producer in Vietnam. In addition, Binh Phuoc is also making good strides with investment plans to complete infrastructure, develop human resources and reform administrative procedures. In the future, it will create favorable conditions for economic development and create a launching pad for Binh Phuoc to become a popular magnet to investment flows in the country.
Being present in Vietnam for more than 22 years, New Hope Group has made strong strides in business. New Hope Binh Phuoc Livestock Co., Ltd has quickly gained a foothold in the market with quality and prestigious products. As Vietnam's livestock industry is facing a lot of difficulties, the company’s strong and sustainable investment plan will actively help accelerate livestock growth and economic growth.
Source: Vietnam Business Forum