Angimex signs billion-dollar rice export contract with the Republic of Sierra Leone

March 22, 2022 | 09:00
An Giang Import-Export JSC (Angimex) – a member of agricultural food producer and exporter Louis Holding Group – recently welcomed the President of Sierra Leone, Julius Maada Bio, and a high-level delegation to its rice factory in Long Xuyen.
Angimex signs billion-dollar rice export contract with the Republic of Sierra Leone

The event marked the signing of an MoU on a three-year rice export contract with the West African country and was witnessed by the president. This visit, along with the largest purchase so far in 2022, is the premise for Angimex to maintain its leading position in ensuring transcontinental food security.

The MoU ceremony was also attended by Do Thanh Nhan, chairman of Angimex, and other senior representatives.

According to the MoU, Angimex will export 3 million tonnes of rice to Sierra Leone under a three-year contract. This kind of deal has a substantial influence, helping Angimex to access new markets and diverse customer groups in the future.

The continuous application of new agricultural technology in farming enables Vietnam's leading rice enterprise to ensure rice grain quality and meet the strict standards of its partners.

With the endorsement from president Bio, Angimex has high expectations that the contract will be the foundation for larger purchases from West Africa since it has already proven its scale and potential with neighbouring countries in the region. This deal highlights the cooperation not only between Angimex and the presidential delegation but also between Vietnam and Sierra Leone.

“Thanks to its strict quality management system, Angimex is able to provide high-quality rice products to meet the increasingly requirements of the market,” said Do Thanh Nhan, chairman of Angimex.

“Our professional services will completely satisfy the diverse needs of customers. Showing goodwill for the sake of mutual development, Angimex strongly believes in the long-term success of the cooperation with its partners. We look forward to working together to create the best and most sustainable values.”

Angimex will transfer rice samples to relevant enterprises in Sierra Leone. Its methods of sampling are its top priority to ensure high-quality rice input. The expansion of this is one of the most effective solutions to increase the value of rice for export, according to the Ministry of Agriculture and Rural Development.

Angimex signs billion-dollar rice export contract with the Republic of Sierra Leone

When farming on a sampled rice field, farmers will simultaneously sow each high-yield rice variety in the same field. The combination of high-quality rice production and field expansion aims to bring practical benefits to farmers, including changing their production mindset and improving economic efficiency.

Regarding its business plan in 2022, Angimex is set to more than double its revenue to around $348 million and increase its pre-tax profit by 22 per cent on-year to over $3 million.

Aiming at improving the quality of rice seeds in the future, the agricultural services team at Angimex has placed emphasis on providing farmers with in-depth knowledge and cost-saving methods during varietal selection, cultivation, and harvest.

In addition to this, Angimex' experts will use their experience to train farmers to master cultivation techniques and answer any questions they have during the process.

Regarding its business plan in 2022, Angimex is set to more than double its revenue to around $348 million and increase its pre-tax profit by 22 per cent on-year to over $3 million.

In its long-term development strategy, Angimex aims to become the biggest rice exporter and also the market leader in the domestic rice market. Intending to restore the status of An Giang province as the rice king, Louis Holdings has been putting all of its efforts into Angimex and is expecting to reap the rewards in the future.

By Ha Thuy

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional