THACO, HAGL sign strategic cooperation

SGGP
Leading real estate builder and agricultural developer Hoang Anh Gia Lai Joint Stock Company and auto maker Truong Hai Automobile JSC (THACO) signed a strategic cooperation agreement yesterday.

The signing ceremony is witnessed by Prime Minister Nguyen Xuan Phuc, former President Truong Tan Sang and HCMC Party Committee Secretary Nguyen Thien Nhan.  (Photo: TTXVN)

The signing ceremony is witnessed by Prime Minister Nguyen Xuan Phuc, former President Truong Tan Sang and HCMC Party Committee Secretary Nguyen Thien Nhan. (Photo: TTXVN)

The signing ceremony was witnessed by Prime Minister Nguyen Xuan Phuc, former President Truong Tan Sang, HCMC Party Committee Secretary Nguyen Thien Nhan, National Assembly Vice Chairman Phung Quoc Hien, Permanent Deputy Prime Minister of Cambodia Men Sam An, representatives of Laotian Government.
According to the agreement, THACO will invest VND12 trillion (US$521 million) in Hoang Anh Gia Lai Agricultural JSC (HAGL Agrico) for the overall restructuring of the company and sustainable development strategy, and spend VND3.8 trillion (US$168.1 million) on buying in stocks and bonds from HAGL Agrico.
THACO will also pour US$320 million into the second phase of the HAGL Myanmar Center project.
Speaking at the event, PM Nguyen Xuan Phuc said that the agreement will be the model for the application of 4.0 technologies in farming and set a trend of investment for agriculture as well as call on leading enterprises to invest and develop the agricultural sector.
He hoped that the cooperation will bring together the three agricultural sectors of Vietnam, Laos and Cambodia closely to help farmers in the three countries increase their incomes.

By LUONG THIEN – Translated by Kim Khanh

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