Vietnam: 3 richest men step into ag
Vietnam’s top realty developer, Vingroup, last week proposed that authorities in the northern province of Quang Ninh allow the firm to set up large-scale farms for vegetables, fruits, and other agricultural products in the locality, according to news website VnExpress.
The firm’s plan was warmly welcomed by both leaders of the Ministry of Agriculture and Rural Development and the provincial authorities, Quang Ninh has a population of 1.2 million and is home to tens of thousands of workers from other areas working in industrial zones across the province, plus seven million foreign and local tourists each year.
Vingroup, about 30 percent of which is owned by Pham Nhat Vuong, the richest man in Vietnam with a net worth Forbes said topping US$1.7 billion, has long planned to penetrate the new sector.
In a press briefing after the 2015 Lunar New Year, Vuong, chairman of Vingroup, said that after working with agricultural experts from Israel, he found that it is worthwhile to pour money into agriculture.
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