HAGL gets go-ahead for Global GAP farming project
The Central Highlands province of Gia Lai has permitted Hoang Anh Gia Lai JSC to develop a sustainable fruit and livestock farming project covering almost 1,700 hectares.
The corporation, better known as HAGL, specializes in agriculture now, shifting its focus from other sectors like real estate. Under the newly approved project, it plans to grow fruit trees on 1,549 hectares following Global GAP standards. On 108 hectares, it plans to raise 24,000 breeding pigs and 560,000 pigs for meat.
Bananas of Hoang Anh Gia Lai. Photo courtesy of the company.
GAP stands for Good Agricultural Practices, and Global GAP is one of the world's most widely implemented farm certification schemes.
The agricultural project will need VND1,851 billion (overe $79 million) in investment, HAGL said.
HAGL, listed on the Ho Chi Minh Stock Exchange, recorded an after-tax profit of VND531 billion ($22.7 million) in the first six months of the year, 66 times higher than the same period last year. The figure, equivalent to 47% of its annual target, is the highest since 2018.
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