ENTERPRISES SEEK OPPORTUNITIES INVESTING IN MINERAL SUPPLY CHAIN IN VIETNAM
During a meeting with the leaders of two Australian mineral companies, Mr. Ian Jeffrey Gandel, Chairman of ASM Group (2000), and Mr. Oliver Kleinhempel, Chairman of EQ Resources Group (2005), expressed great interest in and willingness to explore investment and cooperation opportunities in developing supply chains for certain minerals in Vietnam.
Welcoming and appreciating the effective business and investment activities of the two companies, the Prime Minister emphasized that the development of the mineral industry is a strategic task that requires modern resources and technologies to fully tap into the existing potentials.
Prime Minister Pham Minh Chinh receives Mr. Ian Jeffrey Gandel, Chairman of ASM Group (2000) (left) and Mr. Oliver Kleinhempel, Chairman of EQ Resources Group (2005) – Photo: VGP
The Prime Minister stressed that mineral projects should be carried out with a focus on high technology, deep processing, and no sale of raw ores. There should be enhanced support, technology transfer, and increased value of minerals. Vietnamese enterprises should be more deeply involved in the global supply chains, protecting the environment and ensuring harmony in interests and risk sharing.
Agreeing with the Prime Minister, the leaders of the two companies affirmed their commitment to implementing projects in Vietnam in line with the mentioned directions. They also expressed appreciation for the Prime Minister’s message on realizing balanced interests and risk sharing among parties involved in the investment process.
During the meeting, the Prime Minister requested the companies to connect and cooperate with Vietnamese partners, and work with relevant agencies to build and implement specific projects according to the regulations of the law. The Government pledged to create favorable conditions for foreign businesses to invest effectively and sustainably in Vietnam.
TRANSFER OF WIND POWER TECHNOLOGY PROPOSED
In the same afternoon, the Prime Minister received Mr. Yi-Hua Lu, Asia-Pacific Director of Corio, a subsidiary of Macquarie Group. Corio has been involved in researching and developing renewable energy projects in Vietnam since 2019. As a member of the Glasgow Financial Alliance for Net Zero (GFANZ), Corio is currently collaborating with partners to mobilize resources for energy transition projects in Vietnam.
Prior to the meeting, on March 5, in Australia, witnessed by Prime Minister Pham Minh Chinh, Corio signed a memorandum of understanding on cooperation in developing offshore wind projects in Vietnam with Power Generation Corporation 3, a subsidiary of Vietnam Electricity Group (EVN).
During the meeting with the Prime Minister, Corio’s leadership presented plans to expand investment in Vietnam and expressed interest in researching and investing in other infrastructure development projects in the future. They proposed allowing the pilot development of offshore wind projects.
The Prime Minister welcomed and appreciated Macquarie’s effective business and investment activities, including those of Corio, in Vietnam. The Prime Minister suggested that Corio immediately submit a pilot project proposal to the relevant agencies and assign Deputy Prime Minister Tran Hong Ha to directly oversee the processing and resolution of the project. If the processing goes beyond the delegated authority, the report should be submitted to the Prime Minister again.
The Prime Minister proposed that the group coordinate with the Vietnamese ministries, sectors, and partners to urgently study and implement specific projects, bringing tangible benefits to both sides. In particular, the cost of wind power must be appropriate and beneficial for all parties involved.
The Prime Minister also expressed his desire for Corio to diversify its partners in Vietnam, including Vietnam Electricity Group (EVN) and Vietnam Oil and Gas Group (PVN), both of which have extensive experience in the wind power sector. At the same time, the Prime Minister informed that Vietnam wants to develop the wind power industry, therefore, he suggested the group provide support and technology transfer in addition to investment.
The Government and Vietnamese ministries and sectors commit to creating favorable conditions, protecting the legitimate rights and interests, and ensuring profitable and sustainable business activities for foreign investors in Vietnam. Equal benefits, risk sharing, and mutual interests are also emphasized.
REQUEST FOR CONTINUED INVESTMENT FROM AUSTRALIA’S LARGEST RICE GROUP
Also on March 8, Prime Minister Pham Minh Chinh received Mr. Paul Serra, Chief Executive Officer of SunRice, Australia’s largest rice producer and distributor.
SunRice (1950) is the largest rice production and distribution group in Australia, accounting for about 90% of Australia’s rice market share. To date, the group has developed various activities throughout the entire rice supply chain, with more than 30 brands and over 2,000 employees in 50 countries. In 2023, the group’s revenue reached about $1.64 billion.
In 2008, the group acquired controlling shares in the Lấp Vò rice processing plant in Dong Thap province, with a processing capacity of about 260,000 tons of paddy per year. From 2022 to the present, SunRice has been collaborating with the Australian Centre for International Agricultural Research (ACIAR) to implement the project “Developing high-quality rice supply chains in the Mekong Delta” with the aim of developing high-yielding and high-quality rice varieties sustainably, serving the international consumer market.
During the meeting, SunRice’s leaders congratulated Vietnam on upgrading its relationship with Australia and reported to the Prime Minister on their business and investment activities in Vietnam. They discussed plans to expand investment in Vietnam in the near future and highly appreciated the implementation of the 1-million-hectare low-emission, high-quality rice program in the Mekong Delta.
The Prime Minister congratulated and appreciated SunRice’s effective business and investment activities, both in general and in Vietnam specifically. The Prime Minister suggested that the group use its network and influence to support the connection between Vietnamese partners and Australian partners, enhancing cooperation in the agricultural sector between the two countries towards green production, healthy competition with other partners, and boosting e-commerce.
The Prime Minister urged SunRice, with its experience, resources, and reputation, to continue expanding investment and supporting the development of the rice supply chain in Vietnam. In particular, they should focus on technology transfer and collaboration with domestic enterprises, work directly with farmers, stabilize inputs and outputs, build storage facilities, and contribute to improving the efficiency, added value, and quality of Vietnamese rice products to meet the needs of consumers worldwide. This will help Vietnamese products participate more deeply in the global supply chain, especially in the Halal food industry, create livelihoods, improve people’s lives, and promote overall economic and social development.
The Prime Minister suggested that the group directly communicate with the Ministry of Agriculture and Rural Development of Vietnam, seeking partners to study and implement specific cooperation projects that will bring practical benefits to both sides, especially participating in the 1-million-hectare high-quality, low-emission rice program in the Mekong Delta.
In addition to rice, the Prime Minister proposed that SunRice explore expanding its activities with other diverse agricultural products in different regions of Vietnam, such as fruits and aquaculture. Long-term, stable, and sustainable investments are encouraged, with a spirit of balanced interests and risk sharing.
