Measures deployed to lure more investment to agriculture

Hanoi – The Government has issued a resolution detailing measures to encourage businesses investing in safe, effective and sustainable agricultural development.

Illustrative image (Source: VNA)

The resolution targets modern and sustainable growth of the agricultural sector towards large-scale production and stronger application of science and technology to improve productivity and products’ quality in 2030, thus enhancing the sector’s competitiveness and farmers’ income.

In 2030, the sector is expected to become one of the world’s top 15, while agricultural processing is hoped to enter world’s top 10.

Vietnam will strive to become a global hub for intensive processing of agricultural products, and a logistics centre of the world’s farm produce trading system, according to the resolution.

It clarifies that in 2030, Vietnam expects about 3 percent growth in agro-forestry-fishery production value annually, and 6-8 percent expansion in the export of the products.

About 80,000-100,000 businesses are expected to invest in agricultural sector, including up to 4,000 large firms and 6,000-8,000 medium-sized enterprises.

To this end, the resolution roles out a number of measures such as continuing to complete constitution and reforming administrative procedures, cutting down business conditions in agriculture, and creating attraction for the sector to lure more investment.

Vietnam will expand agricultural production, processing and selling to match the market’s demand as well as growth strategy of the sector, while reforming mechanisms to support enterprises to seek markets, stated the resolution.

The country will also complete credit policies for agricultural projects to encourage more investment in the field, it said.