The state will renew policies related to domestic and foreign investmentin the local fishery industry because of inefficiency in attractinginvestment to the industry at present.
This was stated by officials from the Ministry of Agriculture and Rural Development (MARD).
According to MARD, by the end of 2013, Vietnam had 70 foreign directinvestment (FDI) fishery projects with a total registered figure of amodest 300 million USD. The domestic private investment in the industryalso stood at low level.
Chu Tien Vinh, former deputy directorof Fisheries Department under the MARD, said high risk and unattractiveinvestment incentives have made domestic and foreign investors shy awayfrom investing in the local fishery industry, according to Dau tu(Investment Review) newspaper.
Investors had mae minorinvestments in the seafood trade segment and in feed for the industry,while the industry had mainly state investment.
Meanwhile, thestate investment in the industry has also not met the industry's demand,added Vinh. During the period of 2006-10, the investment to the fisheryindustry accounted for 3 percent of the total investment in theagricultural sector. The MARD has increased the investment to 7 percentfor the period 2011-15 but it is still low.
The MARD expects toincrease the investment in fisheries to 10 percent of the totalinvestment in the agricultural sector for the period of 2016-20.
NguyenThi Hong, head of the MARD's Planning Department, said in the futurethe structure of investment to the fishery industry would berestructured in the direction of cutting investment from the statebudget, increasing investment from preferential credit, calling privateand FDI capital, and encouraging public-private partnership (PPP)projects.
The department has cooperated with large foreigncorporations, including Metro Cash and Carry Vietnam, Cargill and FreshStudio, for implementing PPP projects in the fishery industry and hasgained positive results.
Deputy Minister of agriculture andrural development Vu Van Tam said the ministry would review plans offishing ports across the nation and submit new investment policies tothe Prime Minister in the coming time.
The ministry would act asan advisor to the government and provinces to set up specific plans fordeveloping large fish centres in Hai Phong, Da Nang, Khanh Hoa and BaRia-Vung Tau and help attracting new investment to these centers, hesaid. Such centers are also being planned in Kien Giang and Can Tho.
Meanwhile, the fishery industry will also change structure ofinvestment to give priority in capital for infrastructure, logisticsservice, large regions of developing fisheries and fisheries varietiesof the industry.
The industry will also focus on intensiveproduction, application of hi-tech and collaboration between productionand business.
Do Thu Trang, from general research division underthe Planning and Investment's Development Strategic Institue, said theprovinces with a developed fishery industry should have long-term plansto attract investment to the industry and cooperate in pormotinginvestment among regions.-VNA
This was stated by officials from the Ministry of Agriculture and Rural Development (MARD).
According to MARD, by the end of 2013, Vietnam had 70 foreign directinvestment (FDI) fishery projects with a total registered figure of amodest 300 million USD. The domestic private investment in the industryalso stood at low level.
Chu Tien Vinh, former deputy directorof Fisheries Department under the MARD, said high risk and unattractiveinvestment incentives have made domestic and foreign investors shy awayfrom investing in the local fishery industry, according to Dau tu(Investment Review) newspaper.
Investors had mae minorinvestments in the seafood trade segment and in feed for the industry,while the industry had mainly state investment.
Meanwhile, thestate investment in the industry has also not met the industry's demand,added Vinh. During the period of 2006-10, the investment to the fisheryindustry accounted for 3 percent of the total investment in theagricultural sector. The MARD has increased the investment to 7 percentfor the period 2011-15 but it is still low.
The MARD expects toincrease the investment in fisheries to 10 percent of the totalinvestment in the agricultural sector for the period of 2016-20.
NguyenThi Hong, head of the MARD's Planning Department, said in the futurethe structure of investment to the fishery industry would berestructured in the direction of cutting investment from the statebudget, increasing investment from preferential credit, calling privateand FDI capital, and encouraging public-private partnership (PPP)projects.
The department has cooperated with large foreigncorporations, including Metro Cash and Carry Vietnam, Cargill and FreshStudio, for implementing PPP projects in the fishery industry and hasgained positive results.
Deputy Minister of agriculture andrural development Vu Van Tam said the ministry would review plans offishing ports across the nation and submit new investment policies tothe Prime Minister in the coming time.
The ministry would act asan advisor to the government and provinces to set up specific plans fordeveloping large fish centres in Hai Phong, Da Nang, Khanh Hoa and BaRia-Vung Tau and help attracting new investment to these centers, hesaid. Such centers are also being planned in Kien Giang and Can Tho.
Meanwhile, the fishery industry will also change structure ofinvestment to give priority in capital for infrastructure, logisticsservice, large regions of developing fisheries and fisheries varietiesof the industry.
The industry will also focus on intensiveproduction, application of hi-tech and collaboration between productionand business.
Do Thu Trang, from general research division underthe Planning and Investment's Development Strategic Institue, said theprovinces with a developed fishery industry should have long-term plansto attract investment to the industry and cooperate in pormotinginvestment among regions.-VNA
