On the afternoon of March 8, Prime Minister Pham Minh Chinh met with leaders of the Korean SK Group in Canberra, during his official visit to Australia, after attending the ASEAN-Australia Special Summit. SK is one of the largest multi-industry economic groups in Korea, one of the major investors in mergers and acquisitions (M&A) deals in Vietnam.

Introducing the carbon-neutral LNG value chain to the Prime Minister, SK's Country Director in Australia said that the group has many cross-border projects being implemented in countries such as Korea, Australia, and Timor Leste.

These projects use natural gas to produce green hydrogen, and the key is to use depleted gas fields as a permanent storage for the CO2 emitted during production. SK claims that this series of projects can generate clean energy because it captures 98% of the emitted gas.

SK leaders want to implement the above model in Vietnam. This model originally required three countries to participate, but with Vietnam's advantages, it can be completely implemented in one country.

Prime Minister Pham Minh Chinh highly appreciated SK's proposal to invest in a green hydrogen production project in Vietnam. He asked SK to provide more information on the cost of LNG exploitation for the chain of projects in Australia.

After receiving the response, he appreciated the proposed price and suggested that the group work with the Ministry of Planning and Investment and relevant agencies to promote project preparation. He supported SK's strategic cooperation with the Vietnam National Oil and Gas Group (PVN) and encouraged the group to compete fairly with other partners.

On the same afternoon, the Prime Minister received Mr. Paul Serra, CEO of SunRice Group - Australia's largest rice producer and distributor. The Government leader hoped that the Group, with its network and influence, would support connecting Vietnamese partners with Australian partners to enhance cooperation in the agricultural sector between the two countries.

The Government leaders hope that SunRice will continue to expand its investment and support the development of the rice supply chain in Vietnam; increase technology transfer, cooperate with Vietnamese enterprises, and work directly with farmers to stabilize output and input. The construction of warehouses is also encouraged, contributing to improving production efficiency, added value and quality of Vietnamese rice products, meeting consumer demand, and participating more deeply in the global supply chain, especially in the Halal food industry.

The Prime Minister asked SunRice to directly discuss with the Vietnamese Ministry of Agriculture and Rural Development to seek partners and implement specific cooperation projects. These projects need to bring practical benefits to both sides, especially participation in the 1 million hectare high-quality, low-emission rice program in the Mekong Delta.

In addition to rice, the Prime Minister also asked SunRice to study expanding its operations to other agricultural products that are abundant in different regions of Vietnam, such as fruits and seafood. The Group should invest long-term, stably and sustainably in the spirit of harmonious benefits and risk sharing.

SunRice was founded in 1950 and currently accounts for about 90% of the Australian rice market share. The Group has developed many activities across the entire rice production and supply chain with more than 30 brands and more than 2,000 employees in 50 countries. In 2023, the Group's revenue will reach about 1.64 billion USD.

In 2008, the Group acquired a controlling stake in the Lap Vo rice processing plant in Dong Thap province with a processing capacity of about 260,000 tons of dry rice per year. From 2022 to present, SunRice is collaborating with the Australian Center for International Agricultural Research (ACIAR) to implement the project "Developing a high-quality rice supply chain in the Mekong Delta" with the goal of developing high-yield and high-quality varieties to serve the international consumer market.

Also on the afternoon of March 8, the Prime Minister received leaders of two Australian corporations operating in the mineral sector, including Mr. Ian Jeffrey Gandel, Chairman of ASM Corporation and Mr. Oliver Kleinhempel, Chairman of EQ Resources Corporation. The leaders of the two corporations said they are interested in learning about investment attraction orientations and cooperation opportunities to develop supply chains for some types of minerals in Vietnam.

The Prime Minister said that developing the mineral industry is a strategic task, requiring modern resources and technology to exploit existing potential. Mineral projects need to be implemented in the direction of high technology, deep exploitation and processing, not selling raw ore but increasing the value of minerals, bringing Vietnamese enterprises deeper into the global supply chain, and protecting the environment.

"The Government is committed to creating all favorable conditions for foreign enterprises to invest and do business effectively and sustainably in Vietnam," he said.

Hoang Thuy