Korean business invests in high-quality rice production

January 26, 2015 | 14:34

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A Korean business has decided to invest VND20 billion in the development of a high-quality rice cultivation area in the southwestern province of Tay Ninh.

A memorandum of understanding (MoU) was signed on January 22 by Vietnam Moc Bai joint stock company under the Republic of Korea’s Taekwang group and Tay Ninh Department of Agriculture and Rural Development (DARD).

Accordingly, the fund will be used to build dykes, irrigation system and procure machines and equipment.

Tay Ninh province will spend more than VND6.4 billion on building a storage area and a bomb and mine clearance project.

DARD Vice Director Nguyen Thai Son said experts and technicians will help farmers develop a modern rice cultivation model to bring about highest efficiency.

In 2010 Taekwang Group invested in building a Nike sports shoes factory in Moc Bai Economic Zone in Tay Ninh province with an annual capacity of 10 million pairs of shoes and has employed 15,000 local workers.

It is also building a 100ha garment industrial zone and plans to develop a hi-tech vegetable cultivation zone on 20ha in Phuoc Ninh commune, Duong Minh Chau district.

VOV

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