Vietnam Announces US$3.27B Stimulus Package for Farmers
The Ministry of Agriculture and Rural Development has announced a stimulus package worth VND58.33 trillion (US$3.27 billion) for farmers that focuses on investment in infrastructure and exports.
The investment will be poured into developing infrastructure like irrigation works, dykes, equipment and facilities for agriculture.
Spending on irrigation will double to VND8 trillion and seek to quickly finish works under construction and put them into use.
Grain storage facilities will increase significantly with the construction of a new system with a capacity of around 2.8 million tones by 2020 and improvements to existing facilities at the cost of VND100 billion (US$5.6 million).
The ministry has asked the Government for an additional VND1.46 trillion this year for growing forests and VND8.04 trillion for 2009-11.
Around VND500 billion will be invested in aquaculture to build national breeding centers, irrigation and fishing ports.
The ministry has also asked for a 50% cut in import duty on animal feed and raw materials for making animal feed, and abolition of export tax or reduction to below 10 per cent on wood products. (VNS)
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