Vietnam Food Corp No 2 (Vinafood 2) announced to concentrate on foreign investment projects in the sector of supporting for its own rice export activities.
Nguyen Tho Tri, Vinafood 2's vice general director said the company's top-priority project was to build a bonded warehouse in Philippines, the large rice exporting market of Vietnam. Every year, Vinafood 2 participates in bidding sessions for exporting rice for government-level contracts to Philippines' markets.
In other large, potential rice export markets in Africa, Vinafood 2 plans to carry out construction projects of bonded warehouses in Tanzania, Ghana and South Africa. In addition, Vinafood 2 will also participate in a joint venture to establish Myanmar – Vietnam Food Joint Stock Co.
The company has carried out foreign investment projects to serve for rice trading purposes such as setting up 100 percent Vietnam-owned Saigon Food Co (Saigon Food) in Singapore with investment capital of $625,000 in December 2008 and Cambodia – Vietnam Food Joint Stock Co. The company's partners included Vinafood 2, Bidv and Cambodia-based Green Trade Co.
Vinafood exported about 3 million tonnes of rice, out of 6 million tonnes of total rice export of the whole country in 2009.
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