Nearly one-tenth of all agricultural firms set up in past six months

Illustrative photo. (Source: VNA)

Hanoi (VNA) – As many as 885 agricultural enterprises were established in the first six months of 2018, raising total firms in this sector to 8,667, reported the Ministry of Agriculture and Rural Development (MARD).

Along with the expansion of small- and medium-sized enterprises, many big names such as Nafoods, TH, Dabaco Vietnam, Masan, and Lavifood also strengthened their investments in high-tech agriculture.

As part of efforts to restructure the agricultural sector, the MARD has focused on reforming the processing industry, storage, and the reduction of post-harvest losses.

At the same time, the ministry has encouraged businesses to concentrate on intensive processing and producing ready-to-eat products to enhance added value.

The ministry also advised firms to increase agricultural mechanisation and expand good models in the field.

A focus of the ministry is to develop a support industry and take advantage of auxiliary products in agriculture to make products with higher added value, reduce costs, and enhance productivity.

In order to lure more businesses into the agriculture sector, the MARD has coordinated with the Ministry of Planning and Investment to consult the Government on the issuance of a decree on giving support policies to encourage investment in this field. Many other sectors have also drafted similar documents in a hope to assist agricultural businesses.

Alongside, the MARD has also restructured State-owned enterprises in the field, including the Vietnam Rubber Group, the Southern Food Corporation, while handing over the State capital in six firms to the State Capital Investment Corporation.