About US$343.48 Million Spent on Agricultural Food Safety in Vietnam

9:22:47 AM | 7/12/2021

A Food Safety Project with expected capital of around US$343.48 million will be implemented in five provinces and cities in Vietnam from 2022 to 2027 .

The project was jointly proposed by the Ministry of Agriculture and Rural Development (MARD) and the World Bank, aiming to improve the value of agricultural products, while ensuring food safety and people's health.

Out of the total expected capital, the concessional loan from the WB amounts to US$211.17 million, accounting for 61.6%; and the domestic counterpart and private capital reached US$40.36 million (accounting for 11.8%) and US$85.42 million (accounting for 24.9%), respectively.

The expected non-refundable capital of US$6 million will be managed by MARD, accounting for 1.75% of the total.

The project will be deployed in Hanoi, Thanh Hoa, Ho Chi Minh City, An Giang, Tien Giang and Dong Thap.

The project consists of four stages, including: a pilot investment in a system of modern national agricultural product trading centres; the modernisation of infrastructure the national safe agri-food value chain; the application of technology and completion of a national mechanism on food safety; and the project’s management.

According to Deputy Minister of Agriculture and Rural Development, Phung Duc Tien, safe food helps people ensure people’s health and meet many requirements of the new era, towards the traceability of all foods .

Source: NDO