Global Rice News

PHI Group, Inc. (www.phiglobal.com, PHIL), a diversified holding company currently engaged in PHILUX Global Funds (a group of Luxembourg bank funds), the Asia Diamond Exchange project (“ADE”) in Vietnam, mergers and acquisitions and investing in special situations (www.co2-1-0.io), is pleased to announce that Vietnam-based Ngoc Thien Phu Rice Export Import JSC (https://ngocthienphurice.com/; “NTP”) has signed an agreement with PHI Group, Inc. to participate in PHILUX Global Food Fund (“PGFF”).

According to the agreement, NTP will contribute a mutually agreed amount of capital for the setup and initial operating budget of the PGFF and hold 49% ownership of the general partners’ portion of this fund. PGFF will focus on food and food-related agricultural investment opportunities in Vietnam and other countries as well.

With more than 20 years of experience in the field of agricultural production, NTP has successfully built its ecosystem from individual farmers and agricultural cooperatives, to processing factories and trading companies in the Mekong Delta and Cambodia. This ecosystem has been operated systematically to properly manage paddy rice inputs and ensure the high quality of rice products.

Understanding thoroughly the difficulty faced by Vietnamese farmers in the value chain of rice production, NTP has engaged Swiss-based Buhler Group (https://www.buhlergroup.com/) to build the first-ever state-of-the-art European-standard factory in Vietnam, also the biggest one in the Southeast Asia region, for processing various high quality clean rice products which are highly sought after in many countries. NTP has registered with the US FDA for exporting its products to the US market, and the company has also secured other certifications to make its agricultural products available in the European and Middle East markets. Moreover, NTP has been granted by the Ministry of Industry and Trade of Vietnam a direct rice export quota of 2.4 million metric tons, thus facilitating its export activities in the coming years.

Le Thanh Nhan, Chairman and CEO of NTP, commented: “ We are very pleased to cooperate with PHI Group for the sustainable development objectives of Vietnam agriculture and the improvement of living standards of Vietnamese farmers. This collaboration is critical and timely for the necessity of sustained food security in the world given the currently unstable context worldwide.”

Henry Fahman, Chairman and CEO of PHI Group, Inc. stated: “We are delighted to collaborate with NTP in this program and believe by capitalizing on our combined experience and networks we are well positioned to serve the needs of agricultural development in Vietnam and other nations as well as create significant enduring benefits for both companies, for our shareholders and all other stakeholders. In addition, we will assist NTP to list its stock on the U.S. Nasdaq Stock Markets in the near future.”

Source: https://forextv.com/top-news/vietnam-based-ngoc-thien-phu-rice-export-import-jsc-to-participate-in-philux-global-food-fund-preparing-to-list-on-nasdaq/