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Jakarta, Indonesia – March 10, 2025 – Under the witness of Vietnamese Party General Secretary – H.E. To Lam and Senior Ministers from both nations, TTC AgriS (Thanh Thanh Cong – Bien Hoa Joint Stock Company) and Sungai Budi Group – Indonesia’s largest agribusiness conglomerate – signed a comprehensive strategic partnership agreement.
The signing ceremony was attended by Vietnamese Party General Secretary – H.E. To Lam, Senior Government Representatives from Vietnam and Indonesia, Ms. Uc My – Chairlady of TTC AgriS, and Mr. Oey Alfred – Director of Sungai Budi Group.
Representatives of TTC AgriS and Sungai Budi Group at the signing ceremony of the Vietnam – Indonesia agricultural economic development cooperation agreement on March 10, 2025, witnessed by Vietnamese Party General Secretary – H.E. To Lam and Ministers of the two countries.
According to the agreement, TTC AgriS and Sungai Budi Group will collaborate on applying scientific advancements to high-tech agriculture and agricultural value chains in Indonesia, especially in sugarcane and coconut supply chains. TTC AgriS will establish joint ventures focused on precision farming and advanced manufacturing, leveraging the partnership as a gateway to global agricultural markets.
In the sugar sector, both parties will focus on technology transfer, plantation management best practices, digital agro-solutions and trade processes between Vietnam and Indonesia. Notably, a 2,000-hectare demo farm will be launched in Indonesia, highlighting advanced cultivation technologies aimed at improving productivity and crop quality. A joint agriculture R&D centre in Indonesia is also a planned key deliverable of the partnership.
In the coconut sector, the two companies aiming to scale up to 300 million liters/kilograms in two phases: develop a production and commercial platform with an initial capacity of 120 million liters/kilograms of coconut products to the Indonesia & global markets in the first phase. Additionally, the project includes the development of 20,000 hectares of organic coconut ecosystem in close collaboration with local growers and smallholders, fostering shared value and consistent quality standards.
TTC AgriS and Sungai Budi Group are committed to enhance cooperation activities on sustainable agricultural development, technology transfer and renewable energy.
This partnership not only signifies a major milestone for TTC AgriS and Sungai Budi Group but also creates opportunities for cross-border technology transfer and management exchange, enhancing the agricultural value chain. For Indonesia – a regional major producer of sugarcane and coconut – this collaboration is expected to improve efficiency, quality, and sustainability in its agribusiness sector. Strategically linking the two countries’ agricultural industries will further promote bilateral trade, contributing to the shared goal of raising Vietnam – Indonesia trade volume to USD 18 billion by 2028.
Backed by strong governmental support in digital transformation and green agriculture development, TTC AgriS is proactively building bridges across stakeholder groups – from businesses and scientists to government and NGOs. The newly signed agreement is not just a growth catalyst for TTC AgriS but also a new chapter in the journey to build a modern, high-tech, and globally integrated agriculture industry.
Source: TTC AgriS press release
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