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VietNamNews

Deputy PM okays Vinafood venture

Update: June, 29/2012 - 10:14

HCM CITY — The Viet Nam Northern Food Corporation has received approval from Deputy Prime Minister Hoang Trung Hai to establish a joint venture specialising in rice processing and exports with a foreign enterprise.

On May 9, the corporation asked the deputy prime minister to consider its project to establish the joint venture with Louis Dreyfus Commodities Asia Pte Ltd (LDC) from Singapore.

Hai has asked the corporation to read comments from departments and ministries before completing legal documents on the establishment of the company and its operations.LDC, which is the biggest importer of Vietnamese rice, belongs to the European-based Louis Dreyfus Corporation, which plays a key role in the global food market.-VNS

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