Resolution on measures to encourage and promote businesses to invest in agriculture

Prime Minister Nguyen Xuan Phuc has just signed the Government's Resolution No.53/NQ-CP (July 17, 2019) on measures to encourage and facilitate businesses to invest in agriculture in an effective, safe and sustainable manner. The resolution affirmed that Vietnam's agriculture still has a lot of potentials and opportunities that need to be exploited, especially land fund, human resources and taking advantage of opportunities during the industrial revolution 4.0. The government aims to have 80,000 to 100,000 businesses with effective business investments in this area by 2030.

Resolution No.53/NQ-CP has set a vision to 2030 to develop the agricultural sector towards modernity and sustainability; boosting large commodity production and the application of science, technology and innovation to increase productivity, quality, efficiency and competitiveness; improving farmers’ lives; and building modern civilized rural areas. By 2030, Viet Nam is expected to among the top 15 countries with the most advanced agriculture around the world, with agricultural processing industry ranks among the top 10 countries in the world. Vietnam would become an intensive processing center of world agriculture, logistics center of the global agricultural product trade. Agricultural enterprises are identified as "pillars" in promoting the development of agricultural production in the direction of commodity production, improving the competitiveness of Vietnamese agricultural products.

By 2030, the growth rate of agricultural, forestry and fishery production value is expected to reach about 3.0%/year. The growth rate of export turnover of agriculture, forestry and fisheries would reach about 6-8%. By 2030, there would be 80,000 - 100,000 enterprises with effective business investment activities in the agricultural sector, of which around 3,000-4,000 large-scale enterprises and 6,000-8,000 medium-sized enterprises.