Danang calls for investment in hi-tech agriculture

The central coast city of Danang called for investors to get involved in hi-tech agriculture projects worth VND1.5 trillion (around US$66 million) at a seminar last Friday, Lao Dong newspaper reports.

Experts said at the “Luring Investment into Hi-tech Agriculture in Danang City”seminar that given adverse weather conditions and falling agricultural land, the use of advanced technology in agriculture is a right thing to do to ensure higher productivity and economic efficiency.

The city is grappling with a slew of difficulties as agricultural land is sparsely located and small-scale farming is still popular.

Besides, the application of information technology, automation, bio-technology, and advanced farming practices is not common there.

The study for hi-tech agriculture solutions has the same fate and application models lack sustainability and expertise. Therefore, their agricultural products fail to meet consumer requirements.

There has been loose connectivity among scientists, the State, companies, and farmers. Notably, scant attention is paid to branding and product promotion.

The demand for farmed products which meet quality and safety requirements is increasing in the city. Thus, hi-tech agriculture has much room for growth there.

The municipal government proposed investors develop five hi-tech agriculture projects worth an estimated VND1.5 trillion (about US$66 million) at the seminar.

The city pledged to offer investors a host of policy incentives such as covering half of site clearance cost but no more than VND3 billion a project, half of infrastructure costs for manufacturing facilities but less than VND2 billion each, and all of interest for maximum loans of VND10 billion each within a period of three years.

Source: The Saigon Time