September 12, 2024 | 19:14 GMT +7
Hotline: 0913.378.918
September 12, 2024 | 19:14 GMT +7
Hotline: 0913.378.918
The Announcement Ceremony of funding more than VND 600 billion from the Dutch &Green Fund in Phuc Sinh Joint Stock Company.
Mr. Phan Minh Thong, Chairman of the Board of Directors of Phuc Sinh, said that since 2013, the company has received attention from many investment funds but was undervalued. After 11 years, Phuc Sinh cooperated with the Dutch & Green Fund. This investment will be refunded after 7 years.
"This capital will also help Phuc Sinh go further on the path of sustainable development, especially in transforming Vietnam's coffee agriculture industry towards traceable supply chains that do not destroy forests," Mr. Thong shared.
Phuc Sinh plans to use this capital for the following purposes: building a factory in Dak Lak and reinvesting in old factories. In particular, the company has also realized the freeze-dried instant coffee project (28 - USD 30 million). In the next 4 years, Phuc Sinh also plans to increase the value of Phuc Sinh to USD 510 million and aim for an IPO.
Mr. Phan Minh Thong, Chairman of the Board of Directors of Phuc Sinh. Photo: Le Binh.
Mr. Phan Minh Thong added that in addition to the &Green Fund, Phuc Sinh will soon receive investment capital from two more foreign funds, one of which is a non-return investment fund.
The &Green Fund is a global sustainable investment management fund based in the Netherlands. The &Green Fund supports companies by financing their transition to sustainable food and agriculture supply chains that are deforestation-free and biodiversity-protecting, meeting the growing demand for sustainability from import markets in Europe, the United States, and other global markets.
The fund targets deforestation-related sectors, such as palm oil, soy, animal protein, and forestry. Current contributors to the &Green Fund span the globe, including Norway, the UK, the Netherlands, Central Africa, and Vietnam.
Mrs. Natalia Pasishnyk, Sustainability Director at the &Green Fund, commented that Vietnamese agriculture is undergoing many changes and attracting the attention of international investors.
"Phuc Sinh is a financially transparent company that owns an advanced agricultural ecosystem," said Mrs. Natalia.
Translated by Huong Giang
(VAN) A group of three 90s members from Cam Lam District in Khanh Hoa started their business with local mangoes, focusing on processing to enhance its value.
(VAN) C.P. Vietnam recently participated in a discussion at the Vietnam Cooperate Sustainability Forum 2024, aiming for green transformation and Net Zero goal.
(VAN) Clean agriculture means no worries about price competition and consumption markets. This direction is in line with Thanh Hoa farmers’ farming trend.
(VAN) Vinamilk's international business segment is also confidently bringing the pride of the 'Vietnamese milk’ brand to the world market.
(VAN) Research Institute for Marine Fisheries has successfully created elkhorn sea moss from tissue culture and intensively cultivated it in the coastal area of Ninh Thuan.
(VAN) Ben Tre province spends VND 544 billion to invest in infrastructure in coastal districts to serve a high-tech shrimp farming model with an area of over 4,000 hectares.
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(VAN) Nearly 90 ha of oranges owned by people in Huong Son and Vu Quang districts were supported by the Kind Heart Foundation (Vingroup) to invest in Israeli irrigation technology, contributing to improving product quality.
