Incentives to be granted for hi-tech agricultural development

VGP – The Government recently decided that hi-tech applications will pave the way for the national agricultural sector to advance to modernity; develop mass production with high yield, quality and competitiveness; and ensure the country’s food security.

February 01, 2010 6:29 PM GMT+7

Planting flowers in net houses is a lucrative direction for hi-tech agriculture in Từ Liêm District, Hà Nội – Illustration photo

Ratified by the Government chief, the Project on Hi-tech Agricultural Development until 2020 proposes orientations, solutions and policies on agricultural development in such areas as farming, husbandry, forestry, aquaculture, irrigation, agro product processing industry, and storage.

As planned, hi-tech agriculture will make up 10-15% of the national agricultural production value in 2015 and 30-35% in 2020.

By 2020, every province in key economic regions will establish 7-10 enterprises, 5-7 agricultural parks and 1-3 ecological zones exploiting hi-tech applications.

Meanwhile, service establishments operating in medium, technical consultancy, supply of materials and equipment as well as distribution will be set up to facilitate hi-tech applications in agricultural sector.

In the short term, the Government will invest in expanding hi-tech applications to some agricultural commodities, namely rice, vegetables, tea and fruits.

The State promises to offer incentives in terms of corporate income tax, value-added tax, tarrifts, and state budget allocation, for the development of hi-tech applications in agriculture.

In addition, investors pouring their money in establishing and developing hi-tech projects will be given the biggest incentives for land use and lease.

The Government will prioritize the nurturing of skilled human resource for hi-tech agriculture.

By Kim Loan