The investment incentives for agriculture and rural areas are driving growth among businesses and cooperatives.

From 2020 to 2023, the province allocated 20.5 billion VND to support 336 organizations and businesses in brand development and market expansion, and 1.4 billion VND to 5 cooperatives for building transportation, irrigation systems, and savings initiatives. This support has enhanced cooperation and production links with agricultural product sales, boosting productivity, value, and market competitiveness. As of March 2023, agricultural and rural loans totaled 22.186 trillion VND, representing 56.4% of the total loan portfolio, with 4.262 trillion VND allocated under Resolution provisions to 230 clients.

Despite the achievements, the implementation of Resolution No. 128/2020/NQ-HĐND faces challenges and limitations. Support for agricultural and rural investment remains low, with few businesses and cooperatives benefiting. Some planned supports, such as interest rate subsidies for agricultural projects, production and consumption linkages, and investments in storage and processing facilities, have yet to be realized.

Son La is currently focused on effectively restructuring agriculture by leveraging regional strengths and potential. The goal is to advance modern agriculture with high-tech, clean, and organic practices, enhancing the quality of key agricultural products through value chains, and building and protecting brands. To achieve these goals and ensure the effectiveness of investment incentives in agriculture and rural areas, the provincial government will require ongoing dissemination of information about Resolution No. 128/2020/NQ-HĐND and its procedures. Additionally, it will implement annual budget allocations as per the provincial decisions on state budget management.

The Department of Agriculture and Rural Development is tasked with leading a survey and review, in coordination with other departments and local governments, to propose a new resolution to replace Resolution No. 128/2020/NQ-HĐND. The goal is to promote the development of high-tech, organic, smart, digital, and ecological agriculture, as well as high-value crops, livestock, and aquaculture.

Enhance training and workshops to boost the capabilities of businesses, cooperatives, and farmers in agricultural production, processing techniques, e-commerce, market trends, product design, and brand development. Continue to attract businesses and cooperatives to invest in agriculture and rural areas through central and provincial support policies, focusing on building large-scale, high-quality supply chains.

Hong  Le

Translated by Huyen Thao Vu