Japan conglomerate Mitani Sangyo eyes agricultural processing investment in central Vietnam

Mitani Sangyo Co., a diversified trading and manufacturing group with nearly a century of history, is exploring agricultural processing opportunities in Dak Lak province, central Vietnam as part of efforts to promote deeper value-added production and a circular economy.

At a recent meeting with Dak Lak authorities, Mitani Sangyo representatives expressed interest in opportunities to develop workforce for the information technology, architecture and construction sectors, as well as the processing of agricultural products and by-products for extraction of high-value natural ingredients.

The company has operated in Vietnam since 1994 and currently runs seven subsidiaries across 15 locations nationwide, employing around 2,400 people.

Its business activities span chemicals, extraction of natural compounds for functional foods, manufacturing of plastic and electronic components, information technology, software development, construction solutions, and human resources consulting.

Dak Lak officials said the province possesses significant agricultural advantages, including major crops and abundant by-products generated from agricultural production and processing activities.

Based on Mitani Sangyo's expertise, the province proposed cooperation in advanced processing technologies and technology transfer aimed at increasing the value of key agricultural products such as coffee, pepper and cashew nut shells.

Authorities said such cooperation could help reduce reliance on exports of raw agricultural commodities while developing the local processing industry. They also expressed interest in expanding cooperation in science, technology and workforce training.

Nguyen Thien Van, Vice Chairman of the Dak Lak People's Committee, said the province would support the company in exploring investment opportunities aligned with the strengths of both sides. "Dak Lak strongly encourages the conversion of agricultural by-products into renewable resources for making new products, viewing the approach as an effective way to promote a circular economy, reduce emissions, address environmental challenges, and increase income for local communities."

Growing international investor interest

Mitani Sangyo is among a growing number of international companies evaluating investment opportunities in Dak Lak.

Representatives of Samsung Heavy Industries (SHI) recently met with provincial leaders to discuss potential investment plans. The South Korean shipbuilder said it is assessing investment opportunities in Vietnam and considers Dak Lak a potential destination.

Do Huu Huy, Chairman of the Dak Lak People's Committee, said the province has favorable conditions for developing shipbuilding and supporting industries and pledged to facilitate investment research and project implementation.

Following the meeting, provincial authorities arranged site visits for the SHI delegation.

Separately, CenGeo New Energy FZ-LLC has proposed developing the Vung Ro Bay tourism and resort complex, featuring villas, serviced apartments, hotels and other high-end leisure facilities.

Dak Lak has also been expanding economic ties with the Middle East, particularly the United Arab Emirates.

During the sixth session of the Vietnam-UAE Intergovernmental Committee in Abu Dhabi, a provincial delegation held meetings with several major UAE-based companies, including Group 42 Holding Ltd, West Zone Group, LuLu Group International, and AD Ports Group.

The companies operate in sectors including artificial intelligence, cloud computing, retail, hospitality and logistics.

The delegation also met with Emirates airline to discuss air cargo transportation demand and invited the carrier to visit Dak Lak to assess opportunities for future air connectivity.

Earlier, UAE Ambassador to Vietnam Bader Almatrooshi visited Dak Lak and met provincial leaders to discuss bilateral economic cooperation.

Following the visit, the ambassador said western Dak Lak has strengths in agriculture, particularly food production and coffee, while the eastern part of the province offers significant opportunities in energy and logistics.

He noted that demand in the UAE for agricultural products from Dak Lak is substantial, although current trade volumes remain modest, leaving considerable room for growth.

The ambassador pledged to support efforts to expand exports of the province's key products to the UAE and encourage investment from Emirati companies in the energy and transportation sectors.

"I will try to arrange dedicated meetings between businesses from Dak Lak and companies from the UAE to strengthen connections between the two sides," he said.

The south-central coastal province of Phu Yen and the Central Highlands province of Dak Lak were merged last July to form the new Dak Lak which borders the provinces of Gia Lai, Khanh Hoa and Lam Dong; Cambodia; and the East Sea - internationally known as the South China Sea.