Vietnam Calls for Increased Investment in Agriculture and Rural Development

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Dec. 8 – The Ministry of Agriculture and Rural Development held a conference in Quang Binh Province on December 6 to call for further investment into the agricultural and rural development sectors in six north-central provinces, from Thanh Hoa to Thua Thien-Hue.

From 2011 to 2020, provincial governments will request businesses to step up investment in rubber plantations, the raising of cattle, and the development of aquaculture and seafood processing. Investors in these sectors will be granted incentives such as land tax exemptions, financial support in the form of 50-100 percent of the cost of training workers, 50-70 percent of the cost of advertising and 50 percent of the cost of transportation.

Minister of Agriculture and Rural Development Cao Duc Phat said the north-central region of Vietnam is an untapped source for lucrative agricultural projects and requisite irrigation due to its 670 kilometer-long coastline and proximity to 23 river mouths and lagoons.

Though the region often suffers at the hand of natural disasters, prior planning can mitigate damage, Phat said.

The minister also added that the region has more than 1.6 hectares of forestland and comparatively strong transport infrastructure.