VBCF pledges nearly USD nine million to 21 Inclusive Business ventures

Following the award of USD 2.5 million to the first eight companies in October 2013, VBCF has decided to invest an additional funding of USD 6.5 million to 13 innovative and inclusive business ventures in three focus areas, including agriculture (42%), low carbon growth (33%), infrastructure and basic services (25%). This makes the total number of awarded companies 21, and the total VBCF’s investment to be nearly USD 9 million which is a co-investment from the VBCF (27%) in addition to the companies’ total self-investment amounting to USD 24 million (73%). The winning companies, of 402 applicants, have demonstrated a high potential to meet innovation, inclusion and commercial viability expectations, bringing both commercial profits to the company and generating social impact to low income households across Vietnam.

These Inclusive business ventures cover a wide range of business in various locations from the North through to the South of Vietnam. They are:

1. Japonica Rice Seed Production

2. GACP-WHO Certified Medicinal Plant Production in the North

3. GACP-WHO Certified Medicinal Plant Production in the South

4. Innovative F1 Hybrid Seed Production

5. Freshwater Farming of Sea Bass

6. Complementary Corn Processing and Bio-char Production

7. Probiotic Feed Production for Livestock Husbandry

8. Sustainable Scallop Farming

9. Organic and Sustainable Rice Production

10. Hybrid Corn Seed Production

11. Affordable LED Light Production

12. Waterproof Lighting for Off-Season Dragon Fruit Farming

13. Efficient Cook Stoves Fueled by Agro-forestry Waste

14. Green and Affordable Biomass Cook Stoves

15. Decentralized Unbaked Brick Machine Production

16. Production and Sale of Biogas Digester Made From Recycled Plastic

17. Centralized Water Purification and Distribution

18. E-Wallet and Mobile Payment Services

19. Mobile Banking Platform for Migrant Workers

20. Toll Bridge to Connect Vibrant Communities

21. Decentralised Water Purification

The expected social returns by December 2015 as a result of the VBCF investments include 9,000 new jobs created and 70,000 people with increased income. Meanwhile, companies will benefit from increased profitability and market share. More importantly, they will help introduce successful inclusive business models that can be replicated by other companies in the region and possibly outside of Vietnam.

Source: vbcf.org.vn

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