US-based Cargill Inc is seeking the go-ahead from Vietnamese authorities to set up its distribution offshoot in Vietnam to supply agricultural-based products.
Truong Chanh, general director of Cargill Vietnam said if approval was forthcoming, the leading US agriculture company would scale up its investment in Vietnam to expand its scope of business.
Cargill would then distribute livestock feed, farm product, fisheries, fertilizer, and materials for chocolate manufacturing.
At present, Cargill handles operations in the Vietnamese market via its representative office.
With permission, it would warehouse and distribute products to clients instead of asking customers to receive goods at the port as currently, Thanh said.
Established in 1995, Cargill Vietnam runs four animal feed plants and is building three more large-scale facilities to increase annual production to 750,000 tons in 2010 from the current 450,000 tons.
The corporation, with a total investment in Vietnam at over $80 million to date, plans to continue its business expansion in the nation, opening its doors wider to foreign companies.
Cargill, a global food, agriculture and risk management product and services provider, already has plants in the southern Dong Nai province, the Mekong Delta city of Can Tho and Hung Yen province in the north.
Cargill Inc has a presence in 66 countries with the annual revenues of US$66 billion.