U.S. agriculture firm Corteva Agriscience has expressed interest in expanding in Vietnam with new farming methods that could increase farmers’ productivity.
Its Asia Pacific president Peter Ford said recently that the company plans to use an undisclosed investment to raise awareness of farmers and let them try out new hybrid seeds and new methods, including monitoring farming land with unmanned aircraft, which could increase productivity by 15 percent.
Vietnam is a potential market with a large labor force and suitable climate, especially in the Mekong Delta region, to grow rice and corn, Ford said.Last year, Vietnam and other Asian countries contributed more than 10% of the company's revenue, or $1.00.4 billion.
Ford thinks Vietnam is an attractive market for the United States.NNS.and Japanese agricultural companies are acquiring shares or setting up their own subsidiaries, while local companies are investing in hi-tech agricultural development.
This is why Corteva Agriscience, one of the largest agricultural companies listed on the New York Stock Exchange, is considering shifting investment to Vietnam to avoid trade tariffs like the United States.NNS.-The China trade war escalated, he added.
The company is present in over 140 countries.It has two offices and a research center in Vietnam.
Vietnam's agricultural exports last year hit a record high of $40 billion, making the country the 15th largest exporter of agricultural products in the world, according to the Ministry of Agriculture and Rural Development, according to the Ministry of Agriculture and Rural Development. Rural development.
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