Financial support for sustainable development of Ngoc Linh ginseng

The project is carried out by Sam Sam Co. Ltd. (under Sam Sam Group).

Sam Sam Group now has a 200-hectare garden with 500 thousand mature Ngoc Linh ginseng trees.

The garden is built based on the WHO guidelines on good agricultural and collection practices (GACP-WHO). The Group is planning to double the number of Ngoc Linh ginseng trees in the garden.

Currently, the Group has a 2.5-hectare factory to extract substances from Ngoc Linh ginseng.

The goal of the Group is to provide 5 million Ngoc Linh ginseng seedlings a year by 2030, meeting the supply for the national development strategy for ginseng industry.

Huib Jan de Ruijter, senior expert from the Dutch Entrepreneurial Development Bank (DEDB), highly appreciated the project on the sustainable development of Ngoc Linh ginseng under forest canopy for not only offering economic benefits to the enterprise but also benefiting the local community, particularly in terms of protecting the sustainable forest ecosystem and mitigating the impacts of climate change.

The project on the sustainable development of Ngoc Linh ginseng under forest canopy is one of 20 safe projects and one of eight Asian ones jointly assessed and financially supported by WWF, DFCD and DEDB.

The project is aimed at providing jobs and developing livelihoods for ethnic minorities, improving their income, contributing to the local poverty alleviation.

According to Chairman of Sam Sam Group Nguyen Duc Luc, the group now needs a capital of around EUR 20 million to expand its cultivation area, improve seed production and extraction capability, and produce a variety of products derived from Ngoc Linh ginseng; thus, ensuring the domestic supply. At the same time, the Group is completing legal procedures to export Ngoc Linh ginseng products.