Decree designed to encourage investment in agriculture

The Ministry of Planning and Investment said it is collecting opinions from organisations and individuals for a draft decree on policies to encourage investment in agriculture and rural development.

Illustrative image (Source: Internet)

Hanoi (VNA) – The Ministry of Planning and Investment (MPI) said it is collecting opinions from organisations and individuals for a draft decree on policies to encourage investment in agriculture and rural development.

The decree regulates additional incentives and investment support of the State for businesses investing in agriculture and rural development. It will be applied to enterprises established and registered for operation in line with Vietnam’s laws.

Under the decree, enterprises having investment projects in agriculture can get deductions of between 50-70 percent of their land rental, or are exempted from the land rental.

Businesses having large scale breeding projects will receive maximum financial support of 5 billion VND (220,000 USD) and at least 3 billion VND (132,000 USD) for building wastewater treatment, transport, electricity and water infrastructure, and purchasing equipment.

The MPI said agricultural projects invested by enterprises will also benefit from other incentives apart from the above-mentioned regulations.-VNA

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