Monday, 18 Dec 2017

Promoting larger investment in agriculture and rural areas

Updated at Saturday, 08 Jul 2017, 10:10
The Hanoitimes - In 2013, the Government issued the Decree no. 210/2013/ND-CP with an aim to encourage investment in agriculture and rural areas, and boost socio-economic development in of the rural areas .

However, the implement of this decree has found with shortcomings including insufficient financial resources, few land accumulation, high risk in farm production and inefficient farm insurance.
Illustration (Source: Internet)
Illustration (Source: Internet)
Besides, some provisions of this decree overlap with other subsequent legal documents including the  Land Law, Investment Law, Construction Law; so potential farm investors need to repeat  many bureaucratic procedures to carry out their investment projects.

This reality makes the modification for this decree now more imperative than ever. The government on June 16 held a meeting presided over by deputy prime minister Vuong Dinh Hue to discuss the modifications to the Decree 210/2013. At the meeting, deputy prime minister Vuong Dinh Hue said the new  decree should take into considerations the provisions of other legal documents, including the Land Law, the SMEs Law, Hydrolic Work Law, Forrestry Law and the Law on Aquaculture.
The deputy prime minister said the new decree needs to focus on the proposal of new mechanism, policies and indirect supports through better investment environment and bureaucratic procedures. Cash support should be conducted in accordance with the market principles and the budget. The new decree should target the small enterprises, the establishment of businesses and agricultural startups.      

For large enterprises working in agriculture, it is necessary to help them foster branding and enlarge to become the spearhead. This policy targets enterprises of all economic sectors and encourages them to invest in agriculture, fishery and forestry industries. Other businesses will invest in rural areas.
In addition, the Government will support enterprises so that they can develop their own technologies and bring advanced technologies into their productions, supporting enterprises to develop agricultural sectors.

The financial aid will come from not only the state and local budgets but also from the technological development fund and other legal funds. The Deputy Prime Minister requires the meeting to study  all necessary policies and to ensure that the process is transparent, clear and timely. Unnecessary costs for financial procedures or other processes need to be removed, guaranteeing that the policies will have a positive impact on people’s lives. 
Nguyen Tung
D. Tung
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