KUALA LUMPUR: DXN Holdings Bhd has signed a memorandum of understanding (MoU) with Venezuela’s La Guaira Special Economic Zone (La Guaira SEZ) to explore potential investment and business opportunities in sustainable agriculture, aquaculture, agro-processing and manufacturing.
The MoU signed on Nov 9 also covers cooperation to support the development of a halal ecosystem in Venezuela.
DXN group chief executive officer Prajith Pavithran said working with La Guaira SEZ gives the company a way to assess new sources of raw materials and explore how local processing could support its Latin American operations.
“We also see an opportunity to share our experience in Malaysia’s halal industry with the relevant Venezuelan authorities,” he said in a statement.
The MoU was signed in Caracas by La Guaira SEZ sole auhority Marcos Meléndez and DXN project director Foo Wai Leong.
Meléndez said the cooperation aims to encourage joint research and attract investment in the sectors covered by the MoU in the state of La Guaira.
The Venezuelan government established La Guaira SEZ in 2023 to attract domestic and foreign investment to La Guaira.
Its priority sectors include industrial development, technology, logistics and transport, tourism and agro-food.
Under the five-year MoU, La Guaira SEZ may facilitate the identification of suitable land for potential plantation development.
The parties may also explore biofertilisers, technology transfer and training, as well as ways to support Venezuelan authorities in developing halal certification infrastructure.