Vietnam to hold first agri sector investment festival in November

The festival to attract investment in Vietnam agricultural sector, which will open in Ho Chi Minh City from Nov 25-27, is expected to attract the participation of 5,000 enterprises and 35 organizations from domestic and foreign countries.

More than 1,000 agricultural projects in Vietnam are expected to attract a total investment of billions of dollars after the exhibition, the local website CafeF reported October 10.

The Ministry of Planning and Investment said that foreign investment in Vietnam remained modest though the sector has a lot of potential.

Nguyen Kien Trung, vice chairman of Phuquoc Land Co. said there are too few opportunities for Vietnam enterprises to seek for foreign investments and it is not hard to explain why local farmers have not had breakouts .

Typically, FDI into agriculture is about $20-$30 million a project and these projects lack of sustainability as well as specialization.

Between Jan and Aug, Vietnamese agricultural sector attracted only 10 foreign projects, with investment accounting for only 1.2% of a total $11.5 billion registered in the country.

Currently, there are 45 foreign countries investing in Vietnam agriculture with the leadership from Asian countries including Korea, Thai, Japan. – Stoxplus.com

Tags: Vietnam agriculture