Hoa Phat Group sets up new agricultural firm

Hoa Phat Group Joint Stock Company (HPG) has created the Hoa Phat Agricultural Development Joint Stock Company, with a charter capital of VND2.5 trillion (US$111 million).

The new company will be set up at Pho Noi A Industrial Zone in Hung Yen Province, and focus on raising animals, producing animal feed and other animal-raising support activities.

Hoa Phat Group also allowed Hoa Phat Agriculture to purchase all of Hoa Phat Group's stakes in other animal raising companies and animal feed producers, at a buying ratio of 1:1. 

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