Malaysian firm to invest in Viet Nam’s agricultural sector

23/12/2007 -- 8:30 PM

Kuala Lumpur (VNA) – Malaysia’s Greenyield Bhd, a producer of chemicals and services for the agriculture industry, plans to spend 1.2 million USD to set up its first overseas factory in Viet Nam. The factory, which is expected to be operational by 2010, will provide plantation and non-plantation services for the rubber industry. "We chose Viet Nam because of recent developments in trade agreements which made business conditions there very favourable to us," Greenyield group’s executive chairman and managing director Tham Foo Keong was quoted by local media as saying. He added that the Vietnamese government is offering very attractive incentives as well as tax exemptions for setting up a plant in the country. The factory is earmarked to be the group's global distribution facility, which will enhance its abilities to increase export growth, he said.-Enditem
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