A Vietnamese businessman spent USD 18 million to acquire a farm in Australia

A wealthy Vietnamese businessman has spent USD 18 million to acquire a cattle farm in northern Australia.

Cattles in Vermelha farm. Photo: ABC

This is considered as the first big investment from Vietnam to cattle industry in the northern part of Australia, according to the website ABC.net.au. The farm is named Vermelha Station and 2,039 square kilometers wide.

Not telling specific information of the new owner, representatives of Tanami Rural Property company said, the farm would continue its cattle breeding operation and consider the persification of activities after the deal.

Also according to the representative, the farm was sold including 10,000 head of cattle which are Brahman cow.

ABC said, there has been lots of farmers from Vietnam are doing well in the northern territory of Australia, mainly in the field of horticulture.

This new agency said that a few year ago, Vietnam’s CT Group had came to Australia looking to acquire farmland for growing dragon fruit. They had looked at Vermelha farm, however, the agreement between the two sides was failed earlier this year./.

Ha Thuong