The Ministry of Agriculture and Rural Development in cooperation with the People’s Committee of Ninh Binh recently held the 2012 Investment Promotion Forum in the agricultural and rural sector in the Red River Delta, with the focus of investment in high-tech agriculture. This is considered one of the breakthrough methods which will further the success of Vietnam’s agricultural sector in the future.
According to the Organising Committee and the Vietnam Trade Promotion Centre for Agriculture (AgriTrade), this event has attracted ten provinces in the Red River Delta, together with many scientists and local and international businesses. Moreover, this fair-forum hybrid helped promote brands and agricultural products of different provinces and businesses in the Red River Delta, at the same time introduce the commercial and demand potential in the agricultural and rural sector. The event also gave investors an opportunity to interact with provincial heads in order to find out more about investment opportunities, policies and investment projects in these provinces. Also according to the Organising Committee, this forum will focus on the exchange of economic activities and trade promotion so that the attendees have a better understanding of the agricultural, marine and handicraft products. Mr Dao Van Ho, Director of Agritrade revealed that the registration number for the Agriculture and Trade Fair in the Red River Delta has exceeded the expected 200 pavilions. Besides the two free pavilions, the Organising Committee also decided on a 50 percent price reduction for the remaining pavilions.
During this 2012 Investment Promotion Forum in the agricultural and rural sector in the Red River Delta, a photo exhibition was also held to introduce the potential and strength of each province and investment project. Within the forum, a Bridging Program for the agricultural sector also took place with the participation of leading experts in the agricultural sector. The goal of the program is to educate producers, farmers regarding the production and processing of agricultural products. The Organising Committee held several sessions for farmers to visit, study the production experience and learn more about materials and machines used for producing and processing agricultural products…
According to Mr Pham Vu Hai, Director of the Northern Investment Promotion Centre (under the Ministry of Planning and Investment - MPI), in order to attract foreign investors to invest in the agricultural and rural sector, before this investment promotion fair-forum, the Organising Committee had worked with international associations, businesses and economic organisation such as: European Chamber of Commerce in Vietnam (EuroCham), Japan External Trade Organisation (JETRO), Japan Business Association in Vietnam (JBAV), Korean Trade-Investment Promotion Agency (KOTRA), Korea Chamber of Commerce and Industry (KCCI) etc. as well as trade commissioners and embassies to supply foreign investors with information regarding this sector in Vietnam.
Ms Nguyen Thi Hong, Deputy Director of the Department of Planning Agriculture and Rural Development, claimed that the Red River Delta has been known for its potential in the agricultural sector for a long time. However, the main purpose of this forum is to attract foreign investors into high-tech agriculture. Ms Hong further claimed that AgroViet in cooperation with MPI has recently tried to lure countries with an advanced high-tech agricultural sector to invest in Vietnam. Nevertheless, this is a high-risk investment sector, therefore the need for provinces in the Red River Delta to meticulously prepare the necessary conditions and documents to be persuasive to foreign investors. Ms Hong also believed that investment capital in the agricultural sector has decreased substantially. More specifically, compared to the initial period when FDI capital poured into the agricultural sector represented eight percent of the total FDI money, this number is one percent at the moment. However, regarding the ODA capital, the main strategic partners of Vietnam such as Japan and World Bank etc. have made it clear that the investment capital will not be reduced. This is a good signal for the agricultural sector in Vietnam in the midst of the international economic crisis.
According to Mr Dinh Quoc Tri, Vice Chairman of the People’s Committee of Ninh Binh, in order to attract investors, the province has in place flexible polices and mechanisms such as: reducing land tax to the lowest possible level; initiating favourable loan contracts to purchase agricultural land; assistance in training human resources, subsidising VND2-3 million in training cost per person for each project. Furthermore, Ninh Binh has signed a memorandum with Israel to train 100 research students from vocational to engineering level, so that this group of students will return and play a critical role in developing the agricultural sector in a sustainable way.
Anh Phuong
Vietnamese
