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BaF Vietnam Agricultural Joint Stock Company honored in the TOP 10 High-Tech Agricultural Companies in 2024
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The Important Role of High-Tech Agriculture
Agriculture is considered the “backbone” of Vietnam’s economy, strongly influencing the country’s stability and development. In 2023, the agricultural sector achieved the highest GDP growth rate in many years (3.83%).
However, there are still many shortcomings in Vietnam’s agricultural development. The increase in agricultural produce is low, the production process consumes a lot of resources, and the competitiveness is low. One of the main reasons is the low application of science and technology. Therefore, promoting the application of technology in agricultural activities will be a solution to optimize resource use, reduce waste and negative impacts on the environment, and contribute to enhancing the competitiveness of agricultural products in the international market, promoting economic development, especially in rural areas.
The Top 10 Reputable High-Tech Agricultural Companies award is based on scientific and objective principles with three main criteria: (1) Financial capacity reflected in the latest financial report; (2) Media reputation evaluated by the Media Coding method; (3) Survey of research objects and related parties.
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BAF is also on the list of high-tech agricultural enterprises with outstanding information disclosure activities in the media
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Highlight of BaF Vietnam Company
BaF Vietnam Agricultural Joint Stock Company is an enterprise operating in the livestock sector. With the orientation of building and perfecting the closed-loop model of Feed – Farm – Food, BaF controls the comprehensive quality from the input of feed raw materials, breeds, high-tech farms, meat production and processing to the output of the distribution system to reach consumers.
Developing livestock farming – a key industry in Vietnam’s agriculture – towards increasing added value, sustainability, and ensuring food safety linked to the consumer market and applying modern technology is also identified as BaF’s key strategy for the present and future.
Currently, BaF is a typical livestock enterprise in implementing the best practices and internationally recognized food safety standards for the entire supply chain. Specifically:
Owning the first animal feed production machine in Vietnam to simultaneously achieve two international certifications: GLOBAL GAP and FSSC 22,000 version 5.0. In addition to being assessed as the highest standard for quality management systems in global animal feed production, these two certifications also focus on nutritional indicators, physical raw materials, and the use of environmentally friendly animal feed raw materials.
Building farms aiming to meet the strict standards of the International Finance Corporation (IFC) in terms of modern technology and equipment, and automatic management systems. BaF invests in a wastewater treatment system with the highest environmental standards according to Vietnamese law, technology for collecting, pressing, and composting to create fertilizer for crop farming, reducing the rate of waste discharged into biogas tanks, and installing solar energy systems.
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In 2024, BAF aims for a total herd of 75,000 sows and 800,000 pigs, double that of the same period in 2023
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At the beginning of 2024, BaF officially launched the Enterprise Total Management Digital Transformation Project on the SAP S/4HANA Cloud platform – a large-scale digital transformation project in the agricultural sector in general and livestock farming in particular in Vietnam. This is a comprehensive management solution that helps BaF achieve digital information efficiency and access and apply the best practices and standard processes specific to the industry, accumulated from the management experience of large enterprises in the same industry worldwide.
With the advice of international organizations, BaF continuously improves its standards in biological safety, animal welfare, and health. The company’s development follows the world’s inevitable trend and meets market and consumer demands, contributing significantly to local economic development, creating jobs for laborers, and social security. It also plays a part in developing the domestic agricultural economy towards integration, modernization, and sustainability.
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