Tuesday, 21 Nov 2017
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INVESTMENT

Minister calls for more agriculture investment

Updated at Wednesday, 06 Sep 2017, 16:53
The Hanoitimes - Minister of Agriculture and Rural Development (MARD) Nguyen Xuan Cuong has said that efforts to attract investment in agriculture were not yielding sufficient fruit, urging authorities to focus on unbuckling bottlenecks to ease investment.
Cuong said although a Government decree on encouraging enterprises to invest in agriculture and rural areas became effective in February 2014, fewer than 5,000 enterprises are operating in agro-forestry and fisheries, accounting for less than 1 percent of enterprises nationwide.
 


 

An additional disheartening sign was the 11.3 percent growth in the number of enterprises that were dissolved during that period, Cuong said. The scale of agricultural enterprises was mostly small, with 50 percent having less than 10 employees. Many have weak links with farmers and a limited ability to find and access market information.

According to Minister Cuong, the capacity for science and technology application of enterprises in agriculture, forestry and fishery was also still low, with 75 percent of enterprises using machinery fully depreciated. Domestic enterprises, especially small, medium and micro-enterprises were still struggling to replace two to three-generations-old technology.


The mobilisation of external resources for agricultural and rural development was also inadequate, said the minister, adding that social investment in agriculture and rural areas was very low - only about 5.4-5.6 percent of the total national investment.

Speaking about a revised draft decree on encouraging businesses to invest in agriculture and rural areas, which has been submitted to the Government by the MARD and the Ministry of Planning and Investment, Cuong said during the drafting process, many workshops were held to collect opinions from associations and enterprises, but Deputy Prime Minister Vuong Dinh Hue still required further consultations.
Tuan Minh - Lam Nguyen
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