New incentive policies for agriculture and rural development projects

VGP – The Government has issued Decree 57/2018/ND-CP on a series of incentive mechanisms and policies to stimulate investments in agriculture and rural area development.

April 24, 2018 2:20 PM GMT+7

Accordingly, beneficiaries shall be businesses which are established, operate in line with the Law on Enterprises and have agricultural projects encouraged by the State.

Beneficiaries shall be entitled to a wide range of State support in terms of land, credit access, high-tech application, workforce training, market development among others.

Specifically, projects eligible for investment incentives shall be exempted from land and water surface rents in the first 15 years since the State allocates land/water surface to the owners of the projects. The rents shall be reduced by 50% in the following seven years.

Projects eligible for investment promotion shall be exempted from land and water surface rents in the first 11 years and shall be offered 50% reduction of the rents in the following 5 years./.

By Thuy Dung