Vietnam: Hi-tech ag projects to get more support

The Vietnamese Ministry of Planning and Investment has drafted a Decree on encouraging businesses investing in agriculture and rural areas, which proposes assistance in investment in agriculture applying high technology, training human resources and developing consumption market.

Vegetables production with hi-tech applications in Lam Dong – Source: Image from lamdong.gov.vn

Businesses investing in agriculture and rural areas receiving assistance should meet such requirements as having the minimum revenue of VND500 million (22,000 USD) per ha per year for planting and VND1 billion (44,000 USD) per ha per year for aquaculture and farming scale of more than three ha.

The businesses will be assisted in infrastructure such as transport, electricity, water and environmental treatment, with VND500 million (22,000 USD) per ha, and not exceeding VND10 billion (440,000 USD) per project.

They will receive the maximum assistance of VND200 million (8,800 USD) per ha for building infrastructure, electricity, water and environmental treatment.

Projects in agriculture and rural areas and zones will be financed with 60% of the expenditure, not exceeding VND5 billion (220,000 USD) each.

Flower plantation applied hi-tech in Dalat – Source: Image from ipsard.gov.vn

Businesses investing in special agriculture projects will be supported with 70% of the expenditure for vocational training, 50% of advertisement expenditure, 50% of expenditure joining domestic and foreign fairs and 50% of expenditure to get access to market and services from the State’s trade promotion agencies.

These businesses will be assisted with VND5 million in establishing and monitoring a national online portal for agricultural transactions.

Source: Agroberichten Buitenland