Mavin to invest $80 million in Nghe An
Mavin to invest $80 million in Nghe An
Mavin Group, an Australian-Vietnamese joint venture, has pledged to invest some US$80 million in the north-central province of Nghe An, mainly in the husbandry sector.
The group’s chairman, David John Whitehead, announced the plan at an investment conference in HCM City last week.
Whitehead told the conference themed “Nghe An: Opportunities for your business growth” that Mavin had been doing business in Viet Nam for more than 12 years and has set up shop in 19 provinces nationwide.
The group inaugurated a feed mill in February at a total cost of $15 million. The facility covers 3.6ha and has a designed capacity of 300,000 tonnes per year.
Mavin was recently awarded a business certificate to develop a swine nucleus farm with hi-tech application, worth $18 million, which is part of the firm’s $80 million investment commitment to Nghe An.
Mavin intends to conduct a feasibility study for a five-hectare food processing plant, which may get off the ground next year.
The facility, which has an annual capacity of 200,000 tonnes, costs some $25 million. It will turn out meat products, such as sausages and ham, for customers at home and abroad.
The group also plans to establish an animal health research centre in the province.
Whitehead said Mavin has taken into consideration many factors such as manpower, market, geography, investment incentives, and transparency before making its investment decisions.
“Investing in Nghe An is a good choice for investors because the province does not only have an ideal geological location but also has a synchronised infrastructure system, good human resources, and good policies for investors,” said Whitehead.
Many domestic and international investors have come to sound out business opportunities in Nghe An, according to Nguyen Chi Toan, marketing director of the Viet Nam-Singapore Industrial Park (VSIP) for central and southern Viet Nam.
Since VSIP Nghe An, an industrial park infrastructure development company, started construction in September 2015, more than 90 companies from various countries and territories have come to the province, of which 10 enterprises have pledged over VND400 billion, Toan said.
