Logo of Phnom Penh Post newspaper Phnom Penh Post - HAGL eyes Cambodia agriculture expansion

HAGL eyes Cambodia agriculture expansion

HAGL eyes Cambodia agriculture expansion

Controversial Vietnamese rubber giant Hoang Anh Gia Lai (HAGL) Group is to expand its agricultural business in Cambodia to include corn, according to the company’s CEO Nguyen Van Su.

Bloomberg reported yesterday that Su said HAGL is investing more in food commodities to support increasing demand across the region.

The company also plans to list its farming business on the Singapore stock exchange next year to raise funds for further growth, according to Bloomberg.

HAGL, which holds economic land concessions (ELCs) in Cambodia’s northeast, came under fire last year when London-based NGO Global Witness published a report accusing the company of illegal logging outside of ELC areas and holding at least 47,000 hectares of ELCs, almost five times the legal limit.

In February, 17 indigenous communities who accused HAGL of land grabbing in their home villages in Ratanakkiri province filed a complaint to the International Financial Corporation (IFC) for investing in the company via an intermediary fund called Dragon Capital Group.

Eang Vuthy, executive director at NGO Equitable Cambodia, confirmed yesterday that the IFC had met with both the company and those communities affected earlier this month to carry out an investigation in to the complaint.

“First they [IFC] have to issue their assessment reports and they will convene a meeting . . . So all parties have a chance to comment and participate in the issue resolution,” Vuthy said.

HAGL declined to comment yesterday on their expansion plans.

MOST VIEWED

  • US think tank warns of China's 'ulterior motives'

    A US think tank on Tuesday warned that spreading Chinese investment in the Indo-Pacific follows a pattern of leveraging geopolitical influence at the expense of the nations receiving investment, including Cambodia. The report looks at a sample of 15 Chinese port development projects, noting that the

  • More than three tonnes of ivory reportedly bound for Cambodia seized in Mozambique

    A total of 3.5 tonnes of ivory reportedly bound for Cambodia was seized by authorities in Mozambique late last week, according to the NGO Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). CITES' information was based on a report from the

  • Defence Ministry denies weapons in smuggling case came from Cambodia

    After a Thai national was arrested last week for allegedly smuggling guns from Cambodia to Thailand, Cambodia's Defence Ministry has claimed the weapons seized during the arrest are not used in Cambodia, despite the fact that both types of rifle seized are commonly found in

  • Shipwreck found off coast of Koh Kong

    Royal Cambodian Navy researchers are working to identify a decades-old shipwreck found earlier this month off the coast of Koh Kong province. Divers found the 70-metre-long wreck on April 4 about a mile from Koh Chhlam island, according to Navy officials. Deputy Navy Commander Tea Sokha,