With a strategic orientation on developing an organic agricultural circular economic model, THD Vietnam Project Development Joint Stock Company held a meeting to discuss with the Minister and Deputy Minister of Agriculture, Forestry and Food Security (MAFFS) as well as representatives of Yun Capital to conduct negotiations on cooperation and promote the investment in the agricultural sector in particular and sustainable green development in particular in the Republic of Sierra Leone.

Suitability for implementing circular economy projects in The Republic of Sierra Leone

The Republic of Sierra Leone is a country located in West Africa with a tropical climate, hot, humid, rainy and diverse environment from savanna to tropical rainforest with so many similarities with the climate of Vietnam. Economically, Sierra Leone is a rather poor and have a imbalance of income in Africa. Despite of possessing rich resources in minerals, agriculture and fishery, the social and economic infrastructure here is underdeveloped. About two-thirds of the population of working age work in subsistence agriculture with the main products could be listed as rice, peanuts, palm oil, dates, and cocoa. The manufacturing sector is mainly focused on processing raw materials and light industry for the domestic market, in particular, diamond mining is the main source of income accounting for nearly half of Sierra Leone’s exports. Accordingly, foreign aids which come from the international investors and investment funds, such as the International Monetary Fund (IMF), is an essential element to improve the serious imbalanced of this nation’s balance of trade and finance for the government. In 2021, Sierra Leone’s GDP  was only 3.91 billion USD which is expected to accelerate growth to 4.10 billion USD in 2022 and strive to reach 4.30 billion USD in 2023.

On the basis of many year research on the circular economy and the geo-climatic, economic, social and trade characteristics of both Vietnam and Sierra Leone, THD Vietnam Project Development Joint Stock Company found that The Republic of Sierra Leone country has much in common with Vietnam in terms of economy, society, culture and geo-climate which has a huge potential strengths in food production, agriculture, rural development, poverty reduction and application of modern and high technology, is a suitable destination to implement the Company’s circular economy models and projects.

Orientation in combination with Yun Capital to promote investment

Yun Capital is an investment fund devoted to social investments in Latin America, Africa Caribbean, Asia, and other emerging growth markets around the world. The fund’s investments are intended to create programs self-sustaining economy (in housing, real estate, energy and others) using banking products that provide good returns for all investors and participants. Yun Capital works with the Governments of countries and supports the growth of jobs and new industries by funding global projects. Joining the general trend of global sustainable development, Sierra Leone is one of the markets that Yun Capital concerns about and intends to invest recently.

Therefore, in Hanoi, on March 12^th, 2022, in the context of the visit of the Presidential delegation of the Republic of Sierra Leone to Vietnam, THD Vietnam Project Development Joint Stock Company had a meeting with the Representative of the Republic of Sierra Leone and the Representative of Yun Capital to have an in-depth  discussion about the demand of investment cooperation in projects in Sierra Leone as well as the orientation to deploy and replicate the circular economic models applied in high-tech organic agriculture and renewable energy in Sierra Leon.

Sustainable development cooperation

Within the framework of the meeting, the parties had positive and goodwill discussion.

Mr. Nguyen Ngoc Hung – Deputy General Director of THD Vietnam sustainable development Project Development Joint Stock Company introduced to the parties about the orientation of the Company and the circular economy project complexes which are currently being implemented in Hau Giang Province, Vietnam.

Mr. Abu Bakarr Karim – Minister of Agriculture, Forestry and Food Security (MAFFS) of the Republic of Sierra Leone, said that Vietnam is one of the countries which has a strong development in agriculture, promoting and successfully applying modern and advanced technologies in agriculture development. Simultaneously, Vietnam is also a country that has many similarities with Sierra Leone with more than 40 years of friendly diplomatic relations, which is a solid foundation for promoting investment cooperation as well as bilateral relation in multilateral sectors.

Ms. Anna Vu – Member of the Board of Shareholders of Yun Capital has proposed methods and procedures for investment cooperation, specifically the orientation of step-by-step establishment of a system of financial company, investment fund, commercial bank, insurance company and a project development company to invest in and build agricultural, mineral, renewable energy, and seaport projects in Sierra Leone.

The meeting which held on March 12^th, 2022 among three parties established a sustainable, long-term and potential cooperation relationship not only among THD Vietnam Project Development Joint Stock Company, Yun Capital and the Republic of Sierra Leone but also between the business community operating in the agricultural sector of the two countries./.