Vietnam offers preferential and favorable conditions for private investors in agricultural sector, affirmed Minister of Agriculture and Rural Development Cao Duc Phat.
Minister Phat made the statement at a round-table talk on Public Private Partnerships (PPP) entitled “Creating new opportunities for private investment in agriculture” held in Hanoi on Nov 10.
The Vietnamese government has issued a list of 28 fields that will enjoy preferential treatment, including cultivation and breeding, seafood, forestry, salt development, agricultural mechanization as well as infrastructure and human resource development, the minister said.
The government has also implemented many policies to encourage investment in agriculture and rural areas, such as exemption or reduction in land use fees by 70%, helping small businesses in human resource training and exempting them from import taxes on materials used to produce varieties of cattle.
Dang Xuan Quang from the Ministry of Planning and Investment said that the prime minister has approved a PPP model submitted by his ministry.
The new investment model will help mobilize domestic and foreign private sources in various fields, including agriculture, Quang said.
The round-table talk was co-organized by the Ministry of Agriculture and Rural Development (MARD), the International Fund for Agriculture Development (IFAD) and the International Support Group (ISG) on the sideline of the third International Rice Congress (IRC) slated for Nov 9-11.
Vietnam is known as an agricultural nation with its agro-forestry and fisheries acreage of 24.7 million hectares, making up 74.5% of the country’s natural land.
Agriculture has brought the major income to rural families in Vietnam. Up to 68% out of 70% of rural people live mainly on agro-forestry and fisheries production.
Vietnam’s agricultural sector recorded an annual average growth of 5% in production value and around 4% in GDP during the 1998-2008 period. (Vietnam Plus Nov 10, Kinh Te Viet Nam & The Gioi Nov 11, Nong Nghiep Viet Nam Nov 11)
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