The State should adopt more special incentives to encourage investors to engage in agricultural and rural development, according to a seminar held in Hanoi on August 19.
The government needs to focus on tackling capital shortages and developing preferential policies to attract more investors in the field, said Pham Gia Tuc, Secretary General of the Vietnam Chamber of Commerce and Industry.
The inflow of foreign direct investment (FDI) remains modest as just US$34.3 million has been registered for 18 projects in the sector.
The biggest obstacles hindering business operations are complicated licensing and land allocation procedures and tardy project site clearance, according to the Institute of Policy and Strategy for Agricultural and Rural Development.
Many delegates agreed that there are still huge investment opportunities in the agricultural and rural areas despite local poor infrastructure.
Farmers in many areas tend to grow crops of high economic value, they said. Vietnam’s abundant workforce, low labour cost, and high demand for agricultural products also promise to bring great benefits to investors.
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