Greater incentives for agriculture, fisheries

Enterprises investing in agriculture and rural areas will enjoy additional preferential policies on land use and human resources training, according to a new Government decree.

Decree 61/2010/ND-CP on preferential policies and investment support for enterprises, which will become effective from July 25, also says that support will include market development, consultancy support, application of new technology and transport subsidies.

To be able to enjoy these policies and support, investors must be operating agricultural projects that are included in a list of projects earmarked for special preferential investment, support or promotion.

Investors in agricultural projects eligible for special preferential treatment will be able to use the land free of charge if allotted Government land.

Other eligible preferential investors will receive a 70 to 50 per cent discount on the land use rental price if the land is allotted to them by the Government.

For all three kinds of projects with special investment treatment, investment preferential treatment and investment encouragement, investors are exempt from land rental if the business builds housing for workers,invests in greenery or provides facilities for public use.

The Government will also subsidise investors renting privately-held land with 20 per cent of the rent for the first five years of the project, starting from the completion of basic construction.

Human resource training

Enterprises with investment projects focusing on human resource training will be provided with a 50 to 70 per cent tuition fee subsidy per person undertaking a vocational training course if the training is carried out in the country. Support from 50 to 70 per cent will also be applied to activities such as trade promotion and marketing or service fees from governmental trade promotion agencies.

The Fund for Science and Technology Development will provide 50 per cent of the costs for carrying out research projects into new technologies or 30 per cent of the investment for an approved pilot production project.

According to the Central Institute for Economic Management, the country currently has more than 39,000 enterprises operating in agricultural and rural areas, accounting for 30 per cent of the country’s firms. — VNS

Tags: Vietnam agriculture, Vietnam fisheries