Vietnam to join WTO to offer a good chance for Cargill Vietnam

(ĐN) – This statement was made by Mr. Greg Page, President of the USs Cargill Corporation in the ceremony to mark the 10th anniversary of Cargill Vietnam’s establishment held last week.

US delegation from Cargill Corporation paying a courtesy visit to the provincial leaders

(ĐN) – This statement was made by Mr. Greg Page, President of the

US’

s Cargill Corporation in the ceremony to mark the 10^th anniversary of Cargill

Vietnam

’s establishment held last week. The ceremony was attended by Mr. Seth Winnick,

Consul General in HCM City, the provincial leaders and hundreds of invited guests.

Addressing at the ceremony, Mr. Greg Page spoke about Vietnam’s agricultural growth rate at 4.5% per annum on a sustained basis which offers chance for Cargill Vietnam to grow its business. He also emphasized that his corporation makes right decision to invest in Dong Nai province 10 years ago due to its reliable assessments of the potential growth capacity of the Vietnamese economy. By seeking to join the World Trade Organization (WTO), Vietnam must create a sustainable agricultural base for the production of food and feed etc. In order to be able to compete properly in a more dynamic and interdependent world economy, efforts are being made to build an economy specializing in production processes and trade in high value-added services in which agricultural products play a vital role. Thus, Cargill Vietnam invests over US$ 12 million to build 2 factories in Can Tho and Long provinces in order to capture opportunities in the marketplace. It is planned to build 2-3 factories in Vietnam from now until 2010. Presently, Cargill Vietnam has 4 factories operating in Dong Nai, Can Tho, Long An and Hung Yen provinces. Cargill Vietnam has to date raised its capacity up 500,000 tonnes per year. Besides, the company will increase the registered capital of its Vietnam operation to a total of 80 million US dollars. During the past ten years, Cargill Vietnam has donated over US$450,000 to social activities in the province.

Vice Chairman of the Provincial People’s Committee Vo Van Mot took this opportunity to highly praise efforts made by Cargill Vietnam during the past ten years. He also said that the local government will work to create a favorable environment for growth and expansion of all local businesses.

Kim Loan