VinGroup and TH True Milk have registered to invest 1.2 trillion VND (53 million US$) in ginseng and herbs farm projects in Quang Nam Province’s mountainous Nam Tra My District.

A 10-year-planted Ngoc Linh ginseng is introduced at a Ginseng Fair in Nam Tra My District  (Photo: VNS)

Chairman of the district’s People’s Committee, Ho Quang Buu, told Viet Nam News that it’s the two biggest investment projects since the district launched its master plan on the development of the Ngoc Linh ginseng, cinnamon and herbs in 2014.

Buu said the two investors have begun surveying mass production from Ngoc Linh ginseng and planning for material farms and supportive industries for herb production.

He said the district wants investment to develop 15,000ha of ginseng in the district by 2030.

According to Quang Nam Province, the Government agreed to fund 2 trillion VND (88.5 million US$) for infrastructure projects in the district.

Currently, 900 households farm 1,200ha of ginseng, cinnamon and herbs in the district, while businesses have 100ha.

The district also hosts regular ginseng fair to link farmers, investors and buyers and to draw tourists to the district.

According to the district, more than 2,300 tourists visited the ginseng fair, and 53kg of Ngoc Linh ginseng has been sold for 4.7 billion VND (208,000 US$) since 2017.

Each kilo of Ngọc Linh ginseng is priced from 100 million VND (4,400 US$) and 200 million VND (8,800 US$) in Viet Nam.

Farmers in the district can earn 3 million US$ per ha after five years growing ginseng.

The Ngoc Linh ginseng has been preserved as a precious and endangered flora gene in the province, along with poor man’s ginseng or condonopsis, pepper, cinnamon, large-size rattan and corn in Quang Nam Province.

(Source: VNS)