Vietnam’s Sao Mai Group and two other South Korea’s companies [JVC Hightech Energy LTD and J ONE Nuri] signed a memorandum of understanding (MoU) on investment cooperation and technology transfer in agriculture.  

On behalf of the South Korean delegation, CEO of J ONE Nuri Company Kim Heung-young said that Sao Mai Group can consider his company as a branch in East Asia.

Representatives of Sao Mai Group, JVC Hightech Energy LTD and J ONE Nuri Company sign the MoU. Photo: Rural Vietnam Magazine

He emphasized the two reasons why South Korea chose Vietnam as a destination, namely, South Koreans' affection for Vietnam; and Vietnam's favorable climatic conditions for agricultural development.

The South Korean business delegation expressed their desire to find cooperation opportunities between the two countries in the field of application, technology transfer, innovation and investment connection in agriculture, especially high-tech agriculture.

“The cooperation not only supports manufacturers with export potential but also aims to train Vietnamese human resources to grasp techniques for farming and processing products. I think this is an opportunity for Vietnam’s agriculture to develop sustainably in the future,” said Kim Heung-young.

In addition, the South Korean side also wishes to cooperate with the Government, businesses, institutes, and universities in Vietnam to establish agricultural training facilities as well as charity funds, for a better society, the CEO emphasized.

Representatives of the parties exchange information at the signing ceremony. Photo: Rural Vietnam Magazine

Speaking at the signing ceremony, CEO of Sao Mai Group Pham Van Dao said that in recent years, the group has shifted from real estate development to renewable energy, tourism, seafood, education, among others.

“With this MoU, it is expected that in the near future, the cooperation between Sao Mai Group in particular, Vietnam in general and the South Korean side will be further strengthened,” Dao said.

For his part, Vice Chairman of the Vietnam General Association of Agriculture and Rural Development Nguyen Tri Ngoc affirmed that the Vietnamese side will create all possible conditions for cooperation which will open a new direction for other Vietnamese enterprises in this field.

On the occasion, representatives of South Korean businesses brought to Vietnam a number of typical agricultural products, which are also the country's strengths, including cordyceps, ginseng, and products derived from agricultural products such as masks, shampoos, and collagen. Besides, they also made a demonstration of smart farm models which are deployed in their home country.