Saturday 23 January 2021

Phoenix inks strategic deal with Vietnam group

DUBAI, December 24, 2018

Phoenix Global DMCC has signed a cooperation agreement with Vietnam-based Loc Troi Group to enhance sustainable rice production and to strengthen good economic relations between the two companies.

In a joint statement, the companies said the agreement will benefit 10,000 Viet small holder farmers enhance sustainable rice farming over 10,000 hectares of paddy field.

Witnessing the ceremony were present officials and diplomats- Franco Bosoni, Director Innovation Hub, DMCC, Antony Furtado of Food Trade Group, DMCC and Le Phuong, commercial counsellor and head of Vietnam Trade Office in Dubai. They said that consumers of UAE and Middle Eastern region would also be the beneficiary by way of imports of low chemical residue and sustainable rice which will be produced in Vietnam as a result of this partnership.

Gaurav Dhawan, chairman and CEO of Phoenix Group said: “Phoenix has participated in many initiatives in the world, particularly in Africa, the CIS, the Middle East, India, and South East Asia to address and tackle the challenges of sustainable development in the value chain from cultivation to agribusiness. The cooperation agreement with Loc Troi Group will enhance Phoenix’s footprint in Vietnam on food safe rice production, food security, economic prosperity of Vietnamese youth, and environmental issues in mass agricultural production and meanwhile gently help Loc Troi to market Vietnamese rice globally.”

The agreement also aims to help the small holder farmers in Vietnam achieve resilience to cushion the adverse effects of climate change, pest infestation, drought, floods and other calamities that are being experienced quite frequently over the past few years, the statement said.

Huynh Van Thon, chairman of Loc Troi Group explained, “This cooperation is a major step forward with strategic importance to LTG in widening the access for farmer’s rice in the Sustainable Rice Platform program, to reach the best opportunities which will help them connect and expand consumer markets and subsequently join more rapidly into the international rice trading network. Also, it expresses the great efforts from both Phoenix and LTG in our commitment to promoting the sustainable development of Vietnam’s rice sector in particular and significantly contributing to the Sustainable Development Goals in general.”

Through this cooperation, Phoenix and Loc Troi Group will collaborate to work together for the development of sustainable rice projects in Vietnam to be able to support the Vietnamese farmer to achieve sustainable growth. – TradeArabia News Service

Tags: rice | Vietnam | Phoenix |

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