Vietnamese fertilizer maker urged to invest in PH
The Department of Agriculture (DA) said it was courting a Vietnam company to either supply or manufacture fertilizer in the Philippines.
During a visit to Vietnam last week, Agriculture Secretary Francisco Tiu Laurel, Jr. met with top officials of Binh Dien Fertilizer Joint Stock Co. as the agency wanted to seal a deal with the firm as part of the administration’s efforts to boost farm production.
“We see great potential in partnering with Binh Dien. Our country stands to benefit significantly from their advanced technology and expertise in agriculture,” Tiu said in a statement on Monday.
Binh Dien has decades of experience in producing fertilizer in its home soil. It has several factories with a combined capacity of 1 million metric tons, supplying 30 percent of Vietnam’s fertilizer requirements.
Tiu Laurel said Binh Dien can explore business growth in the Philippine market by initially supplying fertilizers, possibly expanding into manufacturing later on.
“We have high expectations following our visit to Binh Dien’s factory. Their management and technical team’s expertise is impressive and much needed in the Philippines,” he added.
According to the DA, Binh Dien sees the Philippines as “a strategic opportunity to expand internationally.”
“They aim to contribute their specialized knowledge to enhance agricultural practices in the Philippines while fostering their own growth outside Vietnam,” it added.
Vietnam is considered a crucial agricultural partner of the Philippines as it serves as the latter’s major exporter of rice.
