Nafoods Group signs $20 million contract with Dutch Business Development Bank (FMO)

Nafoods Group Joint Stock Company (NAF) and the Dutch Business Development Bank (FMO) signed a cooperation contract worth 20 million USD on August 15.

Attending the signing ceremony were representatives of the Embassy of the Netherlands in Vietnam; representatives of banks: Vietinbank, BIDV , HSBC, Bangkok Bank, Kbank, ESUN; securities companies Maybank, UP Securities, Agriseco and related accompanying units. Photo: PV

This agreement affirms the two sides' shared commitment to developing green, sustainable agriculture , associated with social responsibility and environmental protection.

At the same time, it also shows that Nafoods Group is increasingly affirming its position as a trusted destination for the world's leading green investment funds.

At the signing ceremony, Mr. Nguyen Manh Hung - Vice Chairman of the Board of Directors, General Director of Nafoods Group said: Nafoods Group and FMO agreed to cooperate with a funding package of 20 million USD to improve production capacity and seize opportunities for sustainable growth.

The nursery and Nafoods Institute for Research and Development of High-Tech Agriculture in Nghe An. Photo: Thanh Quynh

Nafoods Group currently has 5 factories, seed institutes and raw material areas located in key mountainous areas nationwide. Photo: Nafoods Group

This investment is of particular importance in realizing the 5-year development strategy (2025–2030). The core goal is to make Nafoods a pioneer in developing a digital, green and sustainable agricultural chain.

This capital will be allocated by Nafoods Group to key projects of strategic significance. Including: 12.5 million USD to invest in expanding production capacity and product depth for factory clusters in the system; 2.5 million USD for sustainable development projects, reducing environmental impact and limiting the risk of global warming; the remaining 5 million USD will be used to supplement working capital, serving the group's long-term development strategy.

Representatives of Nafoods Group and FMO completed the signing ceremony. Photo: PV

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This partnership is particularly meaningful to FMO for two reasons. Firstly, Nafoods is our first customer in the fruit processing and exporting sector in Asia.

Second, this partnership fits with FMO’s strategy of diversifying into more agricultural sub-sectors, supporting farmers and sustainable businesses.

Agriculture is the backbone of many economies, and by working with businesses like Nafoods, we believe we can create comprehensive and profound positive changes.

Mr. Bas Revelt - Senior Investment Director, FMO representative

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Source: https://baonghean.vn/nafoods-group-ky-ket-hop-dong-tri-gia-20-trieu-usd-voi-ngan-hang-phat-trien-doanh-nghiep-ha-lan-fmo-10304562.html