The Hoang Anh Gia Lai (HAGL) Group and Truong Hai Auto Corporation (THACO) ink a strategic cooperation agreement in Ho Chi Minh City on August 8 in the presence of Prime Minister Nguyen Xuan Phuc. (Photo: VNA)HCM City (VNA) – The Hoang Anh Gia Lai (HAGL) Groupand Truong Hai Auto Corporation (THACO) inked a strategic cooperation agreementin Ho Chi Minh City on August 8 in the presence of Prime Minister Nguyen XuanPhuc.
Under the deal, THACO will be responsible for the overallrestructuring of the HAGL Agricultural JSC with a total investment of approximately 12trillion VND (514.7 million USD). In addition, THACO and Dai Quang Minh RealEstate Investment JSC, where THACO holds 90 percent of charter capital, will beresponsible for the development of Phase 2 of the HAGL Myanmar project in the SoutheastAsian nation, with total investment of 320 million USD. The project will becompleted by 2020.
In his remarks at the event, Prime Minister Nguyen XuanPhuc said he is delight to see a leading industrial enterprise and a largescale agricultural model of Vietnam shaking hands in a large-scale hi-techagricultural project.
He expected that the cooperation between ambitiousleaders of the two companies would help boost the development of agricultureand industry in Vietnam, Laos and Cambodia.
He described the collaboration as a new inspiration fordomestic companies to innovate, merge and cooperate for development.
The PM said he hopes that the agreement will set themodel for the application of advanced technology in agriculture, and also thetendency to shift investment flows in agriculture and call on big businesses toinvest in agricultural development.
Also at the event, Chairman of HAGL Group Doan Nguyen Ducand THACO Chairman Tran Ba Duong presented financial aid to Lao people affectedby the Sepien-Senamnoi hydropower dam break last month. – VNA
VNA
