QUẢNG NAM — VinGroup and TH True Milk have registered to invest VNĐ1.2 trillion (US$53 million) in ginseng and herbs farm projects in mountainous Nam Trà My district of Quảng Nam Province.

Chairman of the district’s people’s committee, Hồ Quang Bửu, told Việt Nam News that it’s the two biggest investment projects since the district launched its master plan on the development of the Ngọc Linh ginseng, cinnamon and herbs in 2014.

Bửu said the two investors have begun surveying mass production from Ngọc Linh ginseng and planning for material farms and supportive industries for herb production.

He said the district wants investment to develop 15,000ha of ginseng in the district by 2030.

According to Quảng Nam Province, the Government agreed to fund VNĐ2 trillion ($88.5 million) for infrastructure projects in the district.

Currently, 900 households farm 1,200ha of ginseng, cinnamon and herbs in the district, while businesses have 100ha.

The district also hosts regular ginseng fair to link farmers, investors and buyers and to draw tourists to the district.

According to the district, more than 2,300 tourists visited the ginseng fair, and 53kg of Ngọc Linh ginseng has been sold for VNĐ4.7 billion ($208,000) since 2017.

Each kilo of Ngọc Linh ginseng is priced from VNĐ100 million ($4,400) and VNĐ200 million ($8,800) in Việt Nam.

Farmers in the district can earn $3 million per ha after five years growing ginseng.

The Ngọc Linh ginseng has been preserved as a precious and endangered flora gene in the province, along with poor man’s ginseng or condonopsis, pepper, cinnamon, large-size rattan and corn in Quảng Nam Province. — VNS