IFC to invest $39 mln in Vietnam agri major BaF as strategic partner

By Thuy Tuong
Fri, February 24, 2023 | 5:00 pm GMT+7

The World Bank’s investment arm IFC has become a strategic partner in Vietnam-based BaF following Vietnamese regulatory approval of an IFC proposal to invest $39 million investment in the leading agri firm.

BaF chairman Truong Sy Ba and Samuel Dzotefe, IFC senior manager for manufacturing, agribusiness and services in Asia, announced the partnership in Ho Chi Minh City on Thursday. They also signed two investment agreements for this $39 million amount.

IFC Asia senior manager Samuel Dzotefefor (left) and BaF chairman Truong Sy Ba at their partnership announcement event in Ho Chi Minh City on February 23, 2023. Photo courtesy of BaF.

IFC Asia senior manager Samuel Dzotefefor (left) and BaF chairman Truong Sy Ba at their partnership announcement event in Ho Chi Minh City on February 23, 2023. Photo courtesy of BaF.

This investment is part of IFC Agribusiness’ African Swine Fever (ASF) Regional Recovery Program. The financing, equal to VND900 billion, is for a convertible bond and a VND300 billion senior bond, both for IFC.

Vietnam’s State Securities Commission approved BaF’s private placements for IFC on February 20.

“By supporting companies like BaF, we are promoting the development of more efficient and sustainable private enterprises along the agribusiness supply chain. This will help boost competition and improve farming standards, supporting the food sector’s continued modernization and implementation of international best practices,” said Dzotefe.

This IFC funding aims at supporting BaF in growing its genetic breeding stock and breeding farms.

According to the World Bank’s private-sector arm, the sites for this financing project include two feed mills, one in the planning stage while the other is under construction; one slaughterhouse and meat processing facility in the planning stage; and expansion of pig farm production capacity with 13 sow farms and 18 hog farms.

Of these 31 farms, one is in operation, four are under construction, four are bidding for contractors, and five are in the planning stage. The remaining 17 farms were not yet identified at the time of the appraisal, according to IFC.

IFC says BaF’s farm expansion model serves to identify suitable locations for pig farms, through either acquiring the land use right directly via self-build, own-and-operate, or engage partners to conduct construction under a lease back and/or rental arrangement.

IFC is the largest global development institution focused on the private sector in emerging markets. Supporting the livestock sector is a key focus of the investor’s engagement in Vietnam.

Bui Huong Giang, CEO of BaF, said: “With the guidance and support of IFC, we will shift from individual animal breeding to group breeding… Other tasks in the complete livestock supply chain, such as feed production, transportation, slaughtering, and distribution will comply with the highest global standards of IFC.”

Comments (0)
  • Read More
S Korean firm apologizes for employee's assault in Hanoi

S Korean firm apologizes for employee's assault in Hanoi

South Korea's Segyung Hi-Tech, with a subsidiary in the northern Vietnam province of Bac Ninh, on Wednesday issued a formal apology for its employee making an assault on two Vietnamese women in Hanoi.

Companies - Thu, July 17, 2025 | 10:23 am GMT+7

Vietnam’ steel giant Hoa Phat reports 30% profit surge in Q2

Vietnam’ steel giant Hoa Phat reports 30% profit surge in Q2

Vietnam’s largest steelmaker, Hoa Phat Group, posted after-tax profit of VND4.3 trillion ($164.4 million) in Q2/2025, up nearly 30% compared to both Q2/2024 and Q1/2025.

Companies - Thu, July 17, 2025 | 9:43 am GMT+7

Vietnam's fund management industry has chance to make breakthrough development: exec

Vietnam's fund management industry has chance to make breakthrough development: exec

Tax incentive policies will help people have confidence in investment funds and create a habit of long-term and disciplined investment, writes Nguyen Hang Nga, general director of Vietcombank Fund Management Company Limited (VCBF), a joint venture between state-controlled Vietcombank and Franklin Templeton Investments (FTI).

Consulting - Thu, July 17, 2025 | 8:52 am GMT+7

The Investor's seminar 'Raising investor awareness towards stock market status upgrade' is taking place

The Investor's seminar 'Raising investor awareness towards stock market status upgrade' is taking place

The Investor and its Vietnamese-language sister Nhadautu.vn will host a seminar titled “Raising investor awareness towards stock market status upgrade” in Hanoi today, July 17.

Finance - Thu, July 17, 2025 | 8:30 am GMT+7

Chinese firms seek to develop smart urban areas in Vietnam

Chinese firms seek to develop smart urban areas in Vietnam

Hong Kong-headquartered CCC Infrastructure Co. and Shenzhen-based Hero Group wish to implement real estate projects in Vietnam, including investments in smart urban areas in the northern province of Bac Ninh and the southern province of Tay Ninh.

Real Estate - Wed, July 16, 2025 | 10:25 pm GMT+7

Construction starts on Hoa Nhon Industrial Park in central Vietnam city Danang

Construction starts on Hoa Nhon Industrial Park in central Vietnam city Danang

Local investor Sai Gon-Da Nang Investment JSC (SDN) has started construction on the Hoa Nhon Industrial Park (IP) which covers 24.75 ha in the central city of Danang.

Companies - Wed, July 16, 2025 | 8:34 pm GMT+7

US starts anti-circumvention probe into aluminum containers imported from Vietnam

US starts anti-circumvention probe into aluminum containers imported from Vietnam

The U.S. Department of Commerce (DOC) has initiated anti-circumvention investigations into disposable aluminum containers, pans, trays, and lids imported from Vietnam and Thailand, according to the Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade.

Companies - Wed, July 16, 2025 | 8:27 pm GMT+7

Vietnamese billionaire-backed VinSpeed raises capital to $573 mln

Vietnamese billionaire-backed VinSpeed raises capital to $573 mln

VinSpeed High-Speed Rail Investment and Development JSC, where Vietnamese billionaire Pham Nhat Vuong holds a controlling stake, has raised its capital from VND6 trillion to VND15 trillion ($573.5 million).

Infrastructure - Wed, July 16, 2025 | 4:33 pm GMT+7

Vietnam's airport operator ACV to issue 1.4 bln shares in record dividend

Vietnam's airport operator ACV to issue 1.4 bln shares in record dividend

State-owned Airports Corporation of Vietnam (ACV) plans to issue over 1.4 billion shares as stock dividends at a 64.58% ratio, its all-time high.

Companies - Wed, July 16, 2025 | 3:44 pm GMT+7

Vietnam seeks economic expansion at 8.3-8.5% this year: Prime Minister

Vietnam seeks economic expansion at 8.3-8.5% this year: Prime Minister

Vietnam needs to achieve a GDP growth rate of about 8.3-8.5% this year, creating momentum to reach a double-digit level in the 2026-2030 period, said Prime Minister Pham Minh Chinh.

Economy - Wed, July 16, 2025 | 3:00 pm GMT+7

Vietnam targets $4.5 bln in cashew exports for 2025

Vietnam targets $4.5 bln in cashew exports for 2025

Vietnam is aiming to export cashews worth $4.5 billion in 2025, up 2.7% year-on-year, according to the Ministry of Agriculture and Environment. To hit this target, the sector must generate around $2.2 billion in the second half.

Companies - Wed, July 16, 2025 | 1:31 pm GMT+7

Indonesia sees great opportunities to boost exports to Europe

Indonesia sees great opportunities to boost exports to Europe

The Indonesian Chamber of Commerce and Industry (Kadin) expressed optimism that the Indonesia-EU Comprehensive Economic Partnership Agreement (IEU-CEPA) will boost trade between the two sides.

Southeast Asia - Wed, July 16, 2025 | 1:24 pm GMT+7

Malaysia tightens export controls on US-origin AI chips

Malaysia tightens export controls on US-origin AI chips

The Malaysian Ministry of Investment, Trade and Industry (MITI) has announced that all exports, transhipment, and transit of high-performance artificial intelligence (AI) chips originating from the United States will require a Strategic Trade Permit under the Strategic Trade Act 2010 (STA 2010).

Southeast Asia - Wed, July 16, 2025 | 1:21 pm GMT+7

Auto manufacturing project in central Vietnam raises investment by over $810 mln

Auto manufacturing project in central Vietnam raises investment by over $810 mln

Vietnamese automaker Kim Long Motor Hue JSC (Kim Long Motor) has received approval from Hue authorities to raise investment in its automotive manufacturing and assembly complex in the central city by VND21.18 trillion ($809.94 million).

Industries - Wed, July 16, 2025 | 12:40 pm GMT+7

State capital at FPT Telecom transferred to Vietnam's Ministry of Public Security

State capital at FPT Telecom transferred to Vietnam's Ministry of Public Security

Vietnam's Ministry of Public Security has assumed the role of representing the state ownership at FPT Telecom, after taking over MobiFone in February.

Companies - Wed, July 16, 2025 | 12:12 pm GMT+7

Vietnam's steel giant Hoa Sen surpasses full-year profit target by 29% after 9 months

Vietnam's steel giant Hoa Sen surpasses full-year profit target by 29% after 9 months

Hoa Sen Group (HSG), one of Vietnam’s leading steelmakers, reported a net profit of VND647 billion ($24.8 million) for the first nine months of its fiscal year starting October 2024, exceeding its full-year target set under an optimistic scenario by 29%.

Companies - Wed, July 16, 2025 | 8:17 am GMT+7