Vietnam’s agriculture is expected to attract more foreign investorsthanks to the sector’s drastic reforms, the Vietnam Investment Reviewreported.
Director of the Ministry of Planning and Investment’sForeign Investment Agency (FIA), Do Nhat Hoang told participants at arecent forum on agricultural development in Hanoi that innovations intechnology, business, infrastructure and labour had been shown to be oneof the key elements for promoting growth in Vietnam’s agriculture.
Hoangadded that Vietnamese farmers had gained experience and had betteraccess to innovative products and technologies from foreign investedprojects in the sector. Recent improvements included higher qualityseeds that have meet international standards along with higher yields.
DangKim Son, General Director of the Institute of Policy and Strategy forAgriculture and Rural Development under the Ministry of Agriculture andRural Development said that the restructuring plan of Vietnam’sagriculture sector had received a lot of interests from foreigninvestors.
Son was quoted as saying that localities shouldrestructure their agriculture sector to draw in foreign directinvestment (FDI) and they should highlight their strengths and detailedwish-list projects calling for foreign investors to the sector.
TheKorea Rural Community Corporation (KRC) and the Dong Thap provincialPeople’s Committee recently signed a public-private partnershipagricultural agreement which will see KRC seek official developmentassistance from Korea and other funds and provide equipments to developagriculture in the province.
Matsuyama Yasuo, General Director ofthe Bank of Tokyo Mitsubishi UFJ’s Hanoi branch, was quoted as sayingthat Vietnam was in a better position to develop agriculture than Japan,but Vietnam’s infrastructure and technologies for the sector were stillweak. Therefore, the bank will provide capital for Japan companies toinvest in Vietnam. Japanese companies will also be encouraged tocooperate with Vietnamese partners to develop agriculture.
Yasuospoke highly of Vietnam’s agricultural products and said that the bankwould act as a bridge for investors. He revealed that at present, thebank had signed a deal with Japan’s leading retail chain Aeon to seekwholesale suppliers in Vietnam.
According to the FIA, over thepast time, FDI in agriculture in Vietnam remains modest. By October 20this year, 516 FDI projects in agriculture with the total registeredinvestment capital of 3.6 billion USD, equal to 3 percent of the totalnumber of FDI projects and 1.5 of the total FDI registered capital inthe country. The scale of FDI projects in agriculture is small, only anaverage of 6.6 million USD per project, while the figure in otherindustries stands at about 15 million USD on average.
Moreover,FDI in the sector is mostly from Asian investors such as Taiwan (China),Thailand and Indonesia and not many new technologies are applied./.
Director of the Ministry of Planning and Investment’sForeign Investment Agency (FIA), Do Nhat Hoang told participants at arecent forum on agricultural development in Hanoi that innovations intechnology, business, infrastructure and labour had been shown to be oneof the key elements for promoting growth in Vietnam’s agriculture.
Hoangadded that Vietnamese farmers had gained experience and had betteraccess to innovative products and technologies from foreign investedprojects in the sector. Recent improvements included higher qualityseeds that have meet international standards along with higher yields.
DangKim Son, General Director of the Institute of Policy and Strategy forAgriculture and Rural Development under the Ministry of Agriculture andRural Development said that the restructuring plan of Vietnam’sagriculture sector had received a lot of interests from foreigninvestors.
Son was quoted as saying that localities shouldrestructure their agriculture sector to draw in foreign directinvestment (FDI) and they should highlight their strengths and detailedwish-list projects calling for foreign investors to the sector.
TheKorea Rural Community Corporation (KRC) and the Dong Thap provincialPeople’s Committee recently signed a public-private partnershipagricultural agreement which will see KRC seek official developmentassistance from Korea and other funds and provide equipments to developagriculture in the province.
Matsuyama Yasuo, General Director ofthe Bank of Tokyo Mitsubishi UFJ’s Hanoi branch, was quoted as sayingthat Vietnam was in a better position to develop agriculture than Japan,but Vietnam’s infrastructure and technologies for the sector were stillweak. Therefore, the bank will provide capital for Japan companies toinvest in Vietnam. Japanese companies will also be encouraged tocooperate with Vietnamese partners to develop agriculture.
Yasuospoke highly of Vietnam’s agricultural products and said that the bankwould act as a bridge for investors. He revealed that at present, thebank had signed a deal with Japan’s leading retail chain Aeon to seekwholesale suppliers in Vietnam.
According to the FIA, over thepast time, FDI in agriculture in Vietnam remains modest. By October 20this year, 516 FDI projects in agriculture with the total registeredinvestment capital of 3.6 billion USD, equal to 3 percent of the totalnumber of FDI projects and 1.5 of the total FDI registered capital inthe country. The scale of FDI projects in agriculture is small, only anaverage of 6.6 million USD per project, while the figure in otherindustries stands at about 15 million USD on average.
Moreover,FDI in the sector is mostly from Asian investors such as Taiwan (China),Thailand and Indonesia and not many new technologies are applied./.
