SOJITZ Group, Partners Jointly Develop US$500 Mln Project in Vinh Phuc Province

10:56:03 AM | 20/12/2021

In the framework of Prime Minister Pham Minh Chinh’s visit to Japan, on November 25, 2021, Ms. Hoang Thi Thuy Lan, Secretary of the Vinh Phuc Provincial Party Committee; Mr. Vu Chi Giang, Vice Chairman of the Provincial People's Committee; and other members of the Vinh Phuc delegation attended the Vietnam - Japan Investment Promotion Conference chaired by Prime Minister Pham Minh Chinh in Japan.

Vietnam - Japan Investment Promotion Conference was an important activity during the Prime Minister’s visit to further strengthen economic diplomacy. The event was themed “Elevating Vietnam - Japan relations, cooperation for mutual development”, attended by governmental officials and business leaders of both countries.

Under the witness of Prime Minister Pham Minh Chinh at the conference, Ms. Hoang Thi Thuy Lan signed a memorandum of understanding (MoU) on investment cooperation between the Vinh Phuc Provincial People's Committee and SOJITZ Group and its investment partners in Vietnam. The MoU featured investment for a shift from pig farming to cow farming, slaughtering housing construction and meat processing, preservation and distribution in Tam Dao district, Vinh Phuc province.

Costing over US$500 million, this is the largest agricultural investment project signed between Vietnamese and Japanese enterprises during the visit.

The project includes the following components: Investment in livestock farming and beef processing and distribution for the domestic market and for export, which will help boost agricultural development cooperation between Vietnam and Japan in general and between Vinh Phuc and Japanese enterprises in particular. The project also connects business cooperation of the two countries from technical cooperation, research and infrastructure development to joint venture and direct investment in high-tech agriculture. This project also included agricultural tourism.

By Vietnam Business Forum