INTERNATIONAL INVESTMENT
AND PORTAL
New Hope Binh Dinh Livestock Co., Ltd has decided to wind up its high-tech swine farm project in the south-central coastal province due to overly complicated procedures and protests from local people.
Binh Dinh People’s Committee revealed the decision to withdraw the high-tech pig farming project. The investor – New Hope Binh Dinh, which is a subsidiary of China’s top feed producer New Hope, also accepting the decision.
The people’s committee approved the investment planning for New Hope Binh Dinh to implement a high-tech swine fattening farm project in Phu My district back in 2019, with construction beginning soon after.
The project covers an area of 20 hectares and is valued at of VND110 billion (almost $4.6 million). Construction had been expected to be completed by the end of 2020; however, the project faced several problems, resulting in large financial losses for the investor. Nearby residents of the plant protested its construction due to environmental concerns, and several complaints were made about the transport of construction materials that damaged local roads and created large volumes of dust.
Once completed, it was planned to provide the market with an annual capacity of 4,500 tonnes of pork.
New Hope Group has had a presence in Vietnam for more than 22 years, and New Hope Binh Phuoc Livestock Co., Ltd quickly gained a foothold in the market with its quality products. New Hope Group also built three other pig farms located in Thanh Hoa, Binh Phuoc, and Binh Dinh, with a total investment of more than $163.5 million and a total annual capacity of 930,000 pigs.
Livestock companies latch onto gains involving circular economic model
The circular economy is hitting its stride among livestock companies across the country, and are expected to gain increased revenues in the next few years thanks to applying fresh and greener methods.
Nation looks abroad for livestock boon
Agricultural businesses and state management authorities are accelerating negotiations with global partners to unlock export markets, helping Vietnam to target of $1.5 billion of livestock products exports in 2025.
Smuggling continues to harm livestock gain
The livestock industry is struggling to cope with the increase in smuggled pig operations.
CPV positions for global reach
Foreign-invested livestock company C.P. Vietnam is eager to foster export activities, contributing to positioning the country on the global map of branded meat exports, especially poultry products.
By Oanh Nguyen
