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INVESTMENTOPPORTUNITIES

Vietnam expects more Japanese investment in agriculture

Updated at Thursday, 29 Sep 2016, 11:22
The Hanoitimes - Vietnam hopes to see Japanese firms increase investments in manufacturing machineries, pesticide and fertilizers for agriculture, as well as related technologies and the processing industry, according to Nguyen Do Anh Tuan, General Director of the Institute of Policy and Strategy for Agriculture and Rural Development.
Speaking at a forum jointly held by the Ministry of Agriculture and Rural Development (MARD) and Japan’s Ministry of Agriculture, Forestry and Fisheries, in Hanoi on September 27, General Director of the MARD’s Department of International Cooperation Tran Kim Long said that Vietnam will step up improving the investment climate and hopes to see Japanese firms increase investments in agriculture in the time ahead.
General Director of the Institute of Policy and Strategy for Agriculture and Rural Development Nguyen Do Anh Tuan said that the country has issued many policies to promote investment in agricultural and rural development, including those relating to Japanese businesses.

 
Illustrative image
Illustrative image
He noted that Japanese firms can invest in manufacturing machineries, pesticide and fertilizers for agriculture, as well as related technologies and the processing industry.
Tuan stressed that Japanese businesses can also cooperate with Vietnamese counterparts to build large-area cultivation areas and develop value chains and trademarks for the domestic and international market.
In addition, Japanese companies are suggested to join Public-Private Partnership cooperation mechanisms in domains of irrigation infrastructure, forest development, fishing port, and environmental protection. 
Vietnam has yet to uphold its strength of agriculture due to the low productivity and low quality of farm produce, according to Japanese Ambassador to Vietnam Shimose Kosaburo. 
Vietnam should build food value chains to address these limitations, the diplomat added.
The Mid-Term and Long-Term Joint Vision on Agricultural Cooperation (2015-2019) will greatly contribute to Vietnam’s comprehensive agricultural development, he noted. 
Under the vision, a project of irrigation infrastructure upgrade and safe vegetable cultivation will be piloted in central Nghe An province, meanwhile Central Highland province of Lam Dong will benefit from a project of high added-value farm produce production, he said. 
Private sectors will be encouraged to invest in building freezing production lines and cold storages in Hanoi and HCM City. 
In a government-level discussion before the forum, Vietnam and Japan discussed how to solve issues concerning phyto-quarantine. The Japan side asked Vietnam to consider removing the import ban imposed on Japan, while Vietnam urged Japan to lift the import ban of Vietnamese red dragon fruit, longan and litchi. 
Japan investors have so far operated 41 agricultural projects worth 211 million USD in Vietnam, focusing in Da Nang, Binh Thuan and Phu Yen in the central region, Hanoi and Son La in the north and HCM City and Bac Lieu in the south, and the central highlands province of Lam Dong.
Thu Minh
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