KN Investment Group, a Vietnamese multi-sector business, plans four mega high-tech agricultural projects in the southern province of Dong Nai.
The project proposals were submitted Tuesday to Nguyen Hong Linh, Secretary of the Dong Nai Party Committee. The KN Investment Group, investor of the Long Thanh golf course in the province, seeks to implement one project in Long Thanh district and three in Cam My district.
It said it would focus on safe and circular economy models with connections to value chains and consumption markets.
The firm estimates that the projects can contribute about VND1.5 trillion ($63.13 million) to the local budget annually, earn total export revenues of $586 million per year, and employ over 7,000 people.
Local authorities welcomed the proposals saying it was in line with the province’s long-term development targets. They urged the investor to further analyze project feasibility and other factors.
Addressing the meeting, Dong Nai Party chief Linh said the investor should further study the future development trend, the feasibility of projects in different areas, and details related to project implementation and the province’s advantages. He added that the province strives to ensure the transparency in selecting investors.
Dong Nai’s gross regional domestic product (GRDP) grew 4.01% in the first half of 2023, of which the agriculture-forestry-fisheries sector’s growth was 3.62%, according to provincial data.
In September 2022, Dong Nai province issued a plan on high-tech agriculture development until 2025. Some key targets were to build two or three high-tech agricultural zones, develop two or three organic farming areas, high-tech agricultural products accounting for 50% of the sector’s total values, and organic farming areas making up 1.5% of its total agricultural land.
Dong Nai is a manufacturing hub in southern Vietnam, together with Ho Chi Minh City, Binh Duong and Long An.