Pan Pacific VN (IFC-34305)

  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Specific Location
Long An, Ben Tre provinces
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jan 21, 2015
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Agriculture and Forestry
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 6.63 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 35.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 3, 2018

Disclosed by Bank Jan 20, 2015

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
The proposed investment is a US$6.5 million equity investment in Pan Pacific Corporation ("PAN" or the "Company") to support the company's US$35 million expansion which comprises: (i) acquisition of a target company in consumer food sector, (ii) purchase of an additional stake of Long An Food Processing Export JSC ("Lafooco"), cashew processor, (iii) initial capex to set up a packaged rice business, (iv) purchase of additional stakes in its subsidiary Ben Tre Aquaproduct Import Export Joint Stock Co ("ABT"), and (v) acquisition contingency (the "Project").
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.
PAN is an agribusiness conglomerate managing three businesses, namely aquaculture, seed and a legacy cleaning services. Its vision is to become a dominant regional multi-national corporation agribusiness and food conglomerate. PAN is the majority shareholder of Northern Seed Company (NSC) which, a producer and distributor of conventional rice, hybrid rice, glutinous corn, yellow corn and vegetable seeds, and will integrate Southern Seed Company (SSC) into this operation. PAN also controls a fully integrated aquaculture production in the Mekong Delta, namely ABT, with a pangasius production capacity of 10,000mt/year and white/brown clam (whole shell) sourcing volume of 5,000MT/year. PAN is also partially involved in the processing of packaged cashews, through Lafooco. Lafooco owns three factories in southern Vietnam and is the second largest cashew exporter in Vietnam with an annual capacity of 35,000 MT. PAN is 19.1% owned by the founding chairman Mr. Nguyen Duy Hung, a reputable Vietnamese businessman and his relatives and 20.9% by Saigon Securities Inc. and its associates. Other major shareholders include TAEL Two Partners Fund Limited (20%), a private equity fund based in Singapore and Mutual Fund Elite (10%), a Finland domiciled mutual equity fund licensed under the EU regulations and focusing on small to medium capitalized companies in Vietnam, China and Hong Kong; and Government of Singapore Investment Corporation (“GIC”, 4.7%), a sovereign wealth fund established by Singapore government in 1981.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
Project Contact: Mr. Nguyen Van Khai Deputy Chief Operating Officer Pan Pacific Corporation 15th Floor, ICON4 Tower, 243A De La Thanh Street, Hanoi, Vietnam Tel: (+84-4) 3760 6190 E-mail: IFC: General IFC Inquiries IFC Corporate Relations 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384 E Mail: Webmaster ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at You can learn more about the CAO and how to file a complaint at

How it works

How it works