Under the agreement signed on June 27, the two sides will cooperate on feasibility studies, site selection and other preparatory work for the proposed project, which is expected to require investment of about VND700 billion ($26.6 million).

The proposed center is designed to serve as a research, demonstration and technology transfer hub for modern agricultural solutions in the Central Highlands.

It will focus on developing databases on soil conditions, weather and crops while applying digital technologies, artificial intelligence and advanced analytics to support precision farming, crop nutrition and sustainable agricultural practices.

The project is intended to provide technology and data-driven services to farmers, agricultural cooperatives, agribusinesses and local authorities.

Dak Lak, an economic hub of Vietnam's Central Highlands, is one of the country's leading producers of coffee, pepper, durian, rubber and other high-value crops.

PVFCCo said the memorandum marks the first step toward evaluating the project's feasibility before any investment decision is made.

Leveraging its position as a leading Vietnamese enterprise in the fertilizer and agrochemical sector, PVFCCo envisions the PVFCCo High-Tech Agricultural Innovation Center in Dak Lak becoming a highly practical new model that effectively connects businesses, scientists, regulatory agencies, and farmers.

The signing of the MoU reaffirms PVFCCo's long-term commitment to supporting Vietnamese agriculture - from the supply of high-quality fertilizers to the creation of crop nutrition solutions, agricultural data systems, and advanced farming models.

This move also aligns with Phu My’s strategic direction: pioneering the development of a comprehensive agricultural ecosystem and making a tangible contribution to the prosperity of the national agricultural sector.