Vietnamese coffee producer gets 25-million-USD loan from Dutch investment fund
(VOVWORLD) - Phuc Sinh Corp, a coffee and pepper producer and exporter with over 14 years of commitment to sustainable development, will receive a 25-million-USD loan from SAIL Investments’ Green Fund of the Netherlands to develop a sustainable coffee supply chain without deforestation.
 A ceremony takes place in HCM city on August 15, 2024, to announce the funding for Phuc Sinh. (Photo: VNA) |
The fund's first investment in a Vietnamese enterprise is a positive sign that Vietnam's agriculture sector can attract investments from international financial markets.
Phan Minh Thong, Chairman of the Board of Directors of Phuc Sinh Corp, said the company is committed to speeding up the transformation of Vietnam's coffee industry toward traceable, deforestation-free supply chains, improved quality, and sustainable production on a global scale. By applying responsible agricultural practices, Phuc Sinh aims to set a standard for the sector.
After January 2025, the European Union will apply the EU Deforestation Regulations, under which the European Commission will ban the import of agricultural products, including livestock, cocoa, coffee, rubber, and wood products that originate on land cleared by deforestation.