PVFCCo and Dak Lak Province Sign MOU for High-Tech Agricultural Innovation Center Investment

On June 27, 2026, in Dak Lak Province, PetroVietnam Fertilizer and Chemical Corporation (PVFCCo) Phu My and the People's Committee of Dak Lak Province officially signed a Memorandum of Understanding (MOU) to research and survey investment opportunities for a High-Tech Agricultural Innovation Center project in the province.

Strategic Partnership Event

The signing ceremony took place against the backdrop of Dak Lak Province's efforts to accelerate digital transformation and apply high technology to agricultural production, while PVFCCo is expanding its business operations into smart agriculture. The MOU represents a strategic move, creating an important foundation for both parties to research and implement innovation projects in the high-tech agricultural sector.

The ceremony was attended by representatives from the leadership of the Dak Lak Provincial People's Committee, PVFCCo management, and experts and enterprises in the high-tech agriculture sector. The event unfolded in an atmosphere of open cooperation, demonstrating the shared commitment of both parties to developing sustainable agriculture with high-tech applications.

About PVFCCo

PetroVietnam Fertilizer and Chemical Corporation (PVFCCo), under the Vietnam Oil and Gas Group (PetroVietnam), is a leading enterprise in the production and business of fertilizers in Vietnam. With over 40 years of establishment and development, PVFCCo has established its position as a leading company in the fertilizer industry, with a nationwide distribution network and a reputable brand.

Recently, PVFCCo has expanded its operations into the high-tech agriculture sector, investing in smart agricultural solutions, developing specialized fertilizer products, and providing services to support farmers. The collaboration with Dak Lak Province is a strategic step in this expansion strategy.

Dak Lak's Vision for High-Tech Agriculture

Dak Lak Province is known as the "capital of coffee" and one of the largest agricultural centers in the Central Highlands. With fertile land and favorable climate, Dak Lak has great potential for developing high-tech agriculture. However, to fully realize this potential, the province needs a strong transformation from traditional production to production applying high technology and smart solutions.

Aware of this, the Dak Lak Provincial People's Committee has identified high-tech agriculture as one of the key development orientations, with the goal of building Dak Lak into a high-tech agricultural center for the region and the entire country.

Detailed Cooperation Content

The MOU between PVFCCo and the Dak Lak Provincial People's Committee includes the following main contents:

• Research and survey to assess the potential and propose a model for the High-Tech Agricultural Innovation Center in Dak Lak Province
• Develop detailed plans for the establishment and operation of the Center, with main functions including:
  
  • Agricultural technology research and transfer
  • Training on high-tech agriculture
  • Consulting and support for applying technology in agricultural production
  • Testing and evaluation of new agricultural solutions
• Cooperate in organizing events, seminars, and exhibitions on high-tech agriculture
• Build cooperation mechanisms between businesses, research institutes, and farmers in applying high technology to agricultural production

Summary Table of Cooperation Content

Significance and Potential of the Project

The High-Tech Agricultural Innovation Center project in Dak Lak holds significant importance:

• For Dak Lak Province:
  
  • Create a breakthrough in developing technology-applied agriculture
  • Enhance the value and quality of agricultural products
  • Create jobs and increase income for farmers
  • Attract investment in high-tech agriculture
• For PVFCCo:
  
  • Expand market and business scope
  • Strengthen brand position in smart agriculture
  • Develop new products and services suitable for high-tech agriculture trends
• For Farmers:
  
  • Access to advanced production technology
  • Increase productivity and reduce production costs
  • Improve income and quality of life

Reactions from Stakeholders

Mr. Nguyen Van Hung, Chairman of the Dak Lak Provincial People's Committee, highly valued the cooperation with PVFCCo, stating: "The signing of the MOU with PVFCCo is an important step in the province's strategy for developing high-tech agriculture. We believe this cooperation will bring practical results, contributing to enhancing the value and competitiveness of Dak Lak's agricultural products."

Ms. Tran Thi Mai, General Director of PVFCCo, shared: "PVFCCo is honored to accompany Dak Lak Province in developing high-tech agriculture. With our experience and capabilities, we commit to working with Dak Lak to successfully build the Innovation Center, contributing to the sustainable and effective development of Dak Lak's agriculture."

Many experts and enterprises in the high-tech agriculture sector have also expressed support for the project, considering it an effective cooperation model between businesses and localities that can be replicated in other provinces nationwide.

Next Implementation Steps

According to the plan, after signing the MOU, both parties will conduct research and surveys within 6 months to assess the potential and propose a model for the Center. Based on this, a detailed proposal will be developed and submitted to competent authorities for approval.

It is expected that after the proposal is approved, PVFCCo will invest in building the Center with an appropriate scale at a strategic location in the province. The Center will operate under a self-governing mechanism, financially self-sufficient but under the management and direction of the Provincial People's Committee.

In addition, both sides will cooperate in organizing seminars and training on high-tech agriculture, starting from Dak Lak's strong sectors such as coffee, pepper, rubber, and others.

Market Context and Industry Trends

The global agricultural sector is undergoing significant transformation driven by technological innovation. The integration of Internet of Things (IoT), artificial intelligence (AI), big data analytics, and precision farming is revolutionizing traditional agricultural practices. According to recent market research, the global smart agriculture market is projected to reach $20.4 billion by 2026, growing at a CAGR of 11.2%.

In Vietnam, the government has identified agriculture as a key sector for economic development, with a focus on modernization and value chain enhancement. The National Digital Transformation Program aims to digitize 100% of agricultural cooperatives and 70% of farms by 2025, creating favorable conditions for projects like the Dak Lak Innovation Center.

Comparison of Traditional vs. Technology-Enhanced Agriculture

Conclusion

The signing of the MOU between PVFCCo and Dak Lak Province for investing in a High-Tech Agricultural Innovation Center opens up new prospects for the development of technology-applied agriculture in Dak Lak and nationwide. This demonstrates the strong transformation of Vietnamese agriculture from traditional production to smart, sustainable agriculture.

This cooperation not only brings economic benefits but also contributes to enhancing the position and competitiveness of Vietnamese agricultural products in the international market. In the context of the strong development of the Industrial Revolution 4.0, applying high technology to agriculture is an inevitable trend, and Dak Lak together with PVFCCo are moving in the right direction to seize this opportunity.

The cooperation model between businesses and localities in high-tech agriculture is one that needs to be replicated, contributing to the successful implementation of Vietnam's sustainable agricultural development strategy in the coming period.

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