A delegation led by Agriculture Secretary Francisco Tiu Laurel, Jr. met executives of Binh Dien Fertilizer Joint Stock Co. in Vietnam to explore areas of cooperation, particularly the potential for the firm to supply — or if viable — to manufacture fertilizer in the Philippines.
During the visit to Binh Dien’s facilities, Tiu Laurel highlighted the need for the Vietnamese fertilizer giant’s presence in the Philippines to help increase local farm production.
Established in 1975, Binh Dien has grown to become Vietnam’s leading producer of NPK (a mixture of nitrogen, phosphorus and potassium in fertilizers) and a major driver of agricultural and rural development in the country. It has several factories with a combined capacity of 1 million metric tons that supplies 30 percent of Vietnam’s fertilizer requirements.
Vietnam is a major exporter of rice and is currently the Philippines’ main source of the staple. Just recently, Vietnam agreed to a five-year trade deal to supply through the private sector up to 2 million metric tons of white rice every year to the Philippines at a competitive and affordable price.
“The Philippines will benefit significantly from the advanced technology and expertise in agriculture of the company.”
“We see great potential in partnering with Binh Dien,” the agriculture chief said, adding that the Philippines will benefit significantly from the advanced technology and expertise in agriculture of the company.
The agriculture head said Binh Dien could initially agree to a distribution agreement that could eventually lead to transfer of technology and even potential investment in a manufacturing facility in the Philippines.
“Their management and technical team’s expertise is impressive and much needed in the Philippines.”
“We have high expectations following our visit to Binh Dien’s factory. Their management and technical team’s expertise is impressive and much needed in the Philippines,” Tiu Laurel said.
Conversely, the Vietnamese company sees the Philippine market as a strategic opportunity to expand internationally. They aim to contribute their specialized knowledge to enhance agricultural practices in the Philippines while fostering their own growth outside Vietnam.
The discussions concluded with optimism for a fruitful partnership, highlighting mutual benefits and the potential for significant advancements in agricultural technologies between the two countries.
