PM passes big credit for high-tech farming

PM Nguyen Xuan Phuc has decided to grant a package of VND 50-60 trillion (US$ 2.3-2.76 billion) for high-tech farming with the most favorable and open lending mechanisms.

The Government chief made the announcement yesterday in Ho Chi Minh City at a conference on building Viet Nam’s agriculture industry.

The event was hosted by the Digital Agriculture Association (DAA Viet Nam) and drew the attendance of over 50 delegates from State agencies, international organizations as well as enterprises.

Addressing the event, PM Phuc highlighted that as the fourth industrial revolution will take place around the globe, Viet Nam boasts three important advantages namely (1) organic agriculture, clean farming, and high-tech farming, (2) IT, and (3) tourism.  

The PM hailed the DAA’s initiative in developing a modern and competitive high-tech farming.

He highlighted the aspiration to convert Viet Nam into a world leading agricultural country and a high-tech agricultural product supply centre. On the basis of agricultural development, other sectors like the food processing industry, mechanic industry and raw material of agricultural production, famous agricultural brandnames will be promoted.

“Each Vietnamese farmer is encouraged to apply high-tech to agricultural production,” affirmed PM Phuc.

The Government chief revealed that he would instruct the Minister of Agriculture and Rural Development to host a conference on high-quality shrimp production in January, 2017.

PM Phuc announced that the US$ 2.3-2.76 billion  credit will be available for numerous commercial banks at the most favorable and open mechanisms.

Viet Nam has already signed 12 FTAs and became a member of the World Trade Organization. Hence, Viet Nam will apply technical barriers in line with regulations and its commitments to protect domestic agricultural production, said PM Phuc.

He also approved of amending Article 193 of the Law on Land on conditions for receiving the transfer or contribution as capital of, or leasing, agricultural land use rights to carry out investment projects on non-agricultural production and business and Circular 23 of the Ministry of Natural Resources and Environment on land in favor of agricultural development.

New bank on land fund  

The PM announced that the Government is piloting a bank on land fund and considering the establishment of a land use market with a view to optimizing land use.

He also acknowledged the formation of agricultural insurance funds, pro-peasant funds, and agricultural enterprises.

The Ministry of Agriculture and Rural Development was assigned to accomplish planning on high-tech farming in sustainable manner and research on preferential policies on the field.

The Ministry of Natural Resources and Environment was asked to extricate obstacles and facilitate land assembling.

The Ministry of Industry and Trade was requested to promote trade promotion activities for Vietnamese agro-products in both domestic and foreign markets; spur overseas shipment of high-value agricultural products.  

The Ministry of Finance and the State Bank of Viet Nam were asked to research and perfect credit policies on high-tech farming.

Source: VGP

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