Agribusiness Hung Nhon, De Heus target $2 bln annual revenue by 2030

Vietnamese major agribusiness Hung Nhon Group and its Dutch partner De Heus plan to increase the annual revenue of their cooperation to $2 billion by 2030, according to Hung Nhon Group.

The firm announced the target at a Friday ceremony to celebrate 10 years of Hung Nhon-De Heus cooperation. The event in the southern province of Binh Phuoc saw the attendance of Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Hung Nhon leadership, and CEO of De Heus in Asia and Vietnam and chairman of EuroCham Vietnam Gabor Fluit.

To reach the target for 2030, Hung Nhon will build large-scale and modern farming facilities and De Heus will provide animal breeders, including 37,500 pig breeders for the Central Highlands, southeastern region and southwestern region; and 83 million chicken breeders and chickens for Tay Ninh province.

Currently, the cooperation churns out 1.6 million broilers for the market annually. In Binh Phuoc province, Hung Nhon has built two chicken farms, one with 400,000 broilers per crop and another with 320,000 egg laying chickens per crop.

Speaking at the event, Binh Phuoc Chairwoman Tran Tue Hien said the province would always facilitate livestock projects and called on Hung Nhon-De Heus cooperation to continue expanding in the southern province.

Deputy Minister Phung Duc Tien urged Hung Nhon-De Heus cooperation to develop itself towards high-tech livestock and expand the network in the southeastern region, especially Binh Phuoc and Tay Ninh provinces.

On the same day, prior to the ceremony, Tran Tue Hien and Gabor Fluit had a meeting, focusing on De Hues’s activities. De Heus eyes to expand the farming areas for animal feed materials, particularly corn and flour, to Central Highlands provinces and Binh Phuoc province. De Hues also suggested Binh Phuoc authorities help the firm develop chicken livestock projects.