TTC AgriS, a leading Vietnamese agricultural company, has secured a significant financial partnership with two European financial institutions: SACE S.p.A, an Italian credit insurance and financial group, and ING-DiBa AG, a Dutch bank with its headquarters in Germany. The collaboration includes a completed funding of $42 million and a Memorandum of Understanding for an additional $100 million to expand its F&B sector in Australia and Singapore, with a particular focus on sustainable agriculture in Australia.

TTC AgriS is the first agricultural enterprise in Vietnam to meet the selection criteria of the SACE Push Facility, a financial sponsorship program organized by SACE S.p.A in collaboration with major European financial institutions.

This partnership between SACE S.p.A, ING-DiBa AG, and TTC AgriS marks a significant step forward in the commercial and investment relations between Italy and Vietnam, with potential expansion into the wider Southeast Asian region.

Bruce Macfarlane, Head of Commodity, Food, and Agriculture for Southeast Asia and the Pacific at ING Bank, commented, โ€œAgriculture and food are becoming global priorities, especially with growing populations and health concerns. Green capital is increasingly flowing into sustainable agriculture and well-governed businesses. ING recognizes TTC AgriSโ€™s capabilities and strategy, and we are committed to working together to contribute to global food security.โ€

TTC AgriS and ING sign a Memorandum of Understanding for the anticipated $100 million funding.

At the signing event, TTC AgriSโ€™s Chairman, Dang Huynh Uc My, affirmed, โ€œThe collaboration between ING Bank and TTC AgriS demonstrates a shared vision for sustainable agriculture between Italy and Vietnam. This comprehensive partnership will create value and promote a circular economy. The green capital from ING will be a powerful enabler for TTC AgriS to achieve its target revenue of $2.5 billion by 2030.โ€

Through her international network, Ms. My has successfully connected with several large international financial institutions to secure green capital for TTC AgriS. In less than a year, the company has raised $220 million from E.SUN Bank, IFC, SMBC, FCB, and others to support its green business strategy.

The Italian Consul General, the Director of the Foreign Affairs Department of Tay Ninh, and representatives from SACE S.p.A, ING-DiBa AG, and TTC AgriS at the signing ceremony.

Starting from an initial 6% ownership, foreign funds now hold a total of 22.62% of SBT. Ms. Uc My has indicated that she will allow this group to increase their ownership to up to 35% to focus on investing in the companyโ€™s sustainable agricultural infrastructure.

To ensure financial stability and efficient capital usage, Ms. My plans to restructure TTC AgriSโ€™s investment portfolio. The company will not invest in areas outside its core strengths and will divest from real estate and unrelated industries by June 30, 2025. The goal is to focus on its core business activities, aiming for sustainable development and harmonizing the interests of all stakeholders.

TTC AgriS is expanding its agricultural value chain, including sugarcane, coconut, banana, and rice, while also implementing new business models in the FBMC sector, leveraging its strengths in sustainable extraction and processing.

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