Vietnamese Party General Secretary - H.E. To Lam and Vietnam - Indonesia high-level delegation witness strategic partnership signing between TTC AgriS and Sungai Budi Group
JAKARTA, Indonesia, March 12, 2025 /PRNewswire/ -- Under the witness of Vietnamese Party General Secretary - H.E. To Lam and Senior Ministers from both nations, on March 10th, TTC AgriS (Thanh Thanh Cong – Bien Hoa Joint Stock Company, stock code: SBT) and Sungai Budi Group – Indonesia's largest agribusiness conglomerate – signed a comprehensive strategic partnership agreement aimed at advancing sustainable green agriculture.
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
TTC AgriS and Sungai Budi Group committed to enhance cooperation activities on sustainable agricultural development, technology transfer and renewable energy
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TTC AgriS and Sungai Budi enter a comprehensive partnership towards the goal of developing sustainable high-tech agriculture
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Driving Sustainable High-Tech Agriculture in Collaboration with Indonesia
The signing ceremony was attended by Vietnamese Party General Secretary - H.E. To Lam, Senior Government Representatives from Vietnam and Indonesia, Ms. Dang Huynh Uc My – Chairlady of TTC AgriS, and Mr. Oey Alfred – Director of Sungai Budi Group.
The event marked a significant step in agricultural and economic cooperation between Vietnam and Indonesia and took place during Vietnamese Party General Secretary - H.E. To Lam's official state visit to Indonesia, ASEAN Secretariat, and Singapore as the invitations of Indonesian President and President of the Great Indonesia Movement Party Prabowo Subianto. This milestone coincides with the 70th anniversary of diplomatic relations between Vietnam and Indonesia, and the 30th anniversary of Vietnam's accession to ASEAN – a pivotal moment in Vietnam's regional and international integration journey.
During the visit, Vietnamese Party General Secretary - H.E. To Lam and Indonesia President Prabowo Subianto discussed the future direction of bilateral cooperation and witnessed the signing of various sectoral agreements, including those in agriculture. With strong support from the Government, TTC AgriS – a Vietnamese enterprise with deep involvement in Indonesia's agricultural sector – is actively leveraging its advantages to accelerate technology transfer and contribute to the development of sustainable agriculture in the region.
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, showcasing advanced cultivation technologies aimed at improving productivity and crop quality. A joint agriculture R&D centre in Indonesia is also planned as a key deliverable of the partnership.
In the coconut sector, the two companies aiming to scale up to 300 million liters/kilograms in 2 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.
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 major producer of sugarcane and coconut in the region - 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.
Government Support Drives Multilateral Trade Expansion
TTC AgriS is recognized as a leading high-tech agricultural enterprise in Vietnam, with an expanding multinational footprint and digital operations model. The company's circular growth strategy prioritizes traceability, environmental impact reduction, cost optimization, and value-added production.
Backed by strong international partnerships with governments and strategic players in Australia, Singapore, Indonesia, China, the United States, and Canada, etc. TTC AgriS not only creates economic value but also builds robust global trade platforms to address challenges related to climate change, food security, and responsible farming practices.
In Indonesia, TTC AgriS has laid a strong foundation for comprehensive agricultural and trade cooperation. Recently in late 2024 and February 2025, the company held high-level meetings with the Indonesian Consul General in Ho Chi Minh City, Vietnam's Ambassador to Indonesia, and key partners to promote nutrition-focused, nature-based solutions and FBMC (Food – Beverage – Milk – Confectionary) products.
The latest expansion of TTC AgriS's presence in Indonesia is part of its 2030 global trade strategy, aimed at supporting sustainable agriculture and providing nature-based nutritional products that promote consumer health. This move also aligns with Vietnamese Party General Secretary - H.E. To Lam's directive to boost scientific development, innovation, and digital transformation – affirming TTC AgriS's commitment to national modernization and industrialization.
Chairlady Dang Huynh Uc My affirmed: "TTC AgriS's global collaboration strategy not only enhances product quality and market reach but also reinforces our commitment to sustainability. By integrating advanced technologies with decades of industry experience, we aim to contribute meaningfully to the development of modern agriculture in Vietnam and the broader region."
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.
About TTC AgriS
With over 55 years of sustainable development, TTC AgriS (Stock code: SBT) is a leading high-tech agricultural enterprise in the region, holding 46% of Vietnam's sugar market share and exporting to over 69 international markets. The company manages a total cultivation area of 71,797 hectares across Vietnam, Laos, Cambodia, and Australia, and offers a diverse portfolio ranging from sugarcane, coconut, banana, and rice to natural nutritional food products. Guided by its mission to build a green and modern agriculture, TTC AgriS continuously innovates and optimizes its commercial value chain under the AgriS Circular Commercial Value Chain model. The company targets VND 60.000 billion in revenue by 2030 while committing to achieve Net Zero emissions by 2035.
About Sungai Budi Group
Established in 1947, Sungai Budi is one of Indonesia's largest agricultural corporations, operating over 30 processing plants for sugarcane, coconut, cassava, palm oil, and more. The Group holds 90% of the domestic market share in rice and wheat flour under the ROSE brand. The Group manages hundreds of thousands of hectares of agricultural land, and operates an extensive logistics, warehousing, and seaport system, along with a retail network of more than 22,000 stores and over 65,000 employees. With its strong capabilities, Sungai Budi plays a pivotal role in Indonesia's agricultural sector and the broader regional market.
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