April 30, 2024

 

Vietnam's THACO looks to expand agricultural business in Cambodia

 

 

Vietnamese conglomerate Truong Hai Group Corporation, better known as the THACO group of companies, has unveiled plans to expand its agricultural business within Cambodia before the end of 2024.

 

According to a press release from the firm circulated in Vietnamese media, the Cambodian expansion will include two fruit and livestock production farms and processing facilities, requiring the recruitment of several thousand local employees. THACO's plan aims to bolster regional supply chains for its diversified group of companies in neighbouring markets, to improve its overall production capacity.

 

As announced by the group's agricultural sector subsidiary, THACO AGRI, the company intends to invest US$228.4 million in 2024 to build a series of large-scale organic agricultural production complexes at various regional sites. These new agricultural complexes will include one in the central highlands of Vietnam, two in Cambodian provinces and one in Laos.

 

However, the location of the newly slated Cambodian operations has not yet been announced.

 

According to THACO AGRI, the regional expansion will include 11,600 hectares dedicated to intensive banana production across the four new farms and 7,100 hectares of fruit tree farming integrated with cow breeding and other livestock production.

 

Through the expansion, the firm seeks to increase its total cow and pig stocks to 151,500 and 136,000 respectively, and animal feed output to an annual output of 120,000 tonnes.

 

THACO AGRI also intends to integrate high-value freshwater fish farming within the projects, including building fish hatcheries and facilities for mass farming of fish.

 

Along with raw goods production, the firm also intends to improve its regional industrial agricultural production capacity, preparing goods for final sale on local and international export markets.

 

The firm's plans also include the construction of industrial clusters within new agricultural complexes, including facilities such as an agricultural equipment and machinery plant, a packaging plant and a plastic materials plant.

 

Additionally, the company confirmed it is conducting ongoing research to develop an agricultural breeding centre that can utilise advanced technology in agricultural production.

 

To manage its expanded operations, THACO AGRI said it will recruit 12,600 new employees, mainly workers and technical staff in Cambodia and Laos, before the end of 2024. Its recruitment drive will help push THACO AGRI subsidiary's total number of employees to 34,300 by the end of 2024 and the THACO group's total workforce to 65,520.

- Khmer Times