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MARD to continue promoting measures to attract investment in agriculture

According to MARD, solutions have been implemented to encourage businesses to invest in agriculture and rural areas. (Image source: Adobe Stock)

On 28 December 2022, Nguyễn Trường Thắng, deputy head of the The Ministry of Agriculture and Rural Development (MARDs) Enterprise Management Department spoke at a forum on enterprises in the development of agriculture and rural areas held in Hà Nội, confirming that the ministry would continue to implement solutions to innovate the mechanism to support businesses in expanding markets

MARD will also coordinate with the Ministry of Industry and Trade to develop a project on promoting the application of information technology and market forecasts and build brands of products. By 2030, the Ministry plans to develop a project to build the Vietnam Agricultural Product Supply Centre. According to MARD, solutions have been implemented to encourage businesses to invest in agriculture and rural areas this year. In 2022, the export of agricultural, forestry and fishery products officially set a new record, estimated at US$53.2bn, up 9.3%, making Vietnam one of the world's leading exporters of agricultural, forestry and fishery products. 

The agricultural product market has continued to expand by focusing on the domestic market and removing many trade barriers for agro, seafood and forestry exports. According to MARD, besides developing small and medium-sized enterprises, several large corporations and enterprises continue to promote investment in agriculture, especially hi-tech agriculture, such as Nafoods, TH true MILK, Dabaco Vietnam, Masan, and Lavifood.

To develop a sustainable agricultural sector, it is necessary to create close links among businesses, cooperatives and farmers. Every year, MARD has organised many short-term training courses for small and medium-sized enterprises to support them in switching from thinking about agricultural production to the agricultural economy.

The ministry is urged to continue its support for businesses in connecting with localities to form high-tech agricultural regions and specialised farming areas and participate in the supply chain of raw materials from cooperatives to processing factories.