(Post by CAAI News Media)
Vietnam and Cambodia signed an agreement on Monday to form a food processing joint venture focused on boosting Cambodian rice shipments.
Cavifoods, with a registered capital of US$8 billion, will build a rice processing mill this year and then another factory to make bread and instant noodles.
The Southern Food Corporation, one of Vietnam’s two biggest state-owned food companies, will have a stake in the Cambodia-based joint venture.
The Vietnam Food Association said last month that a joint venture with Cambodia is necessary because it would shield Vietnam from tough competition against the neighboring country in future rice exports.
Also on Monday, Five Stars International Joint Stock Company, a Ho Chi Minh City-based fertilizer producer, set up a joint venture to manufacture and distribute fertilizer in Cambodia.
Source: VNA
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