Vietnam, Australia look to jointly create valuable chains

Australian and Vietnamese experts at a workshop

Addressing the event, Chairman of the provincial People’s Committee Vo Ngoc Thanh said the event is expected to help connect Australian investors and businesses in the province to join the global value chain in the framework of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

He also called on foreign and domestic investors to explore cooperation and investment opportunities in Gia Lai to fully tap its potential.

Thanh introduced the province’s policies and mechanisms designed to assist investors and businesses, voicing his hope that investors will bring new vitality to the province, stimulate local comprehensive development, thus realising its goal on sustainable poverty reduction.

Several research projects on hi-tech agricultural production and potential investment options were made public at the workshop.

Nguyen Huu Minh from Australian Newcastle University suggested the processing of gac fruit (Momordica cochinchinensis) in Vietnam to produce supplementary food. He explained that the fruit is abundant in Vietnam, and together with green tea and turmeric, products from the fruit can give Vietnam an edge over other imported supplementary food in the domestic market.

Gia Lai boasts favourable natural conditions to grow long-term industrial plants, with more than 100,000 hectares of rubber, 94,000 hectares of coffee plants, over 16,000 hectares of pepper, 17,800 hectares of cashew, and 42,000 hectares of sugar canes.

The province plans to focus on promoting hi-tech agriculture, agricultural product processing, renewable energy, tourism, and supporting enterprises from now to 2020.

Gia Lai also has huge wind and solar power potential, with a capacity estimated at 1,800 MW and 7,500 MW, respectively.

In the framework of the workshop, the Vietnam – Australia Business Council signed memoranda of understanding with the Hoang Anh Gia Lai JSC and An Khe township on the production of organic gac fruit powder and safe vegetables.