Ho Chi Minh City supports agricultural start-ups

The event aimed to encourage start-up movement and establish young agricultural firms using modern technology to develop clean and safe farming.

Speaking at the event, Deputy Director of the municipal Department of Agriculture and Rural Development Tran Tan Quy said the city strives to record 500,000 firms by 2020, at least 1,500 of them operate in agriculture in accordance with the government’s Resolution No.35 on supporting and developing enterprises.

Ho Chi Minh City supports agricultural start-ups. Photo for illustration

Over the past two years, up to 300 agricultural firms have been established, bringing the total to nearly 1,300, he said, adding that the city is willing to offer more preferential loans to them and encourages the establishment of agricultural cooperatives.

The municipal People’s Committee issued a decision guiding the enforcement of Resolution No.10/2017/NQ-HDND dated December 7, 2017 of the municipal People’s Council on encouraging switch of urban agriculture structure for 2017-2020. Accordingly, the city will offer zero-interest loans to high-tech agricultural projects.

Prof. Phan Van Truong, head of the Vietnamese agricultural start-up club, suggested that young people initially invest in profitable fields and then call for investment. Once they are financially strong, it will be easier to lure investment.

Speakers inspired young people with “start-up mindset” and pointed out challenges to agricultural start-ups to seek proper measures.

The organizing board introduced incentives and training courses to create a driving force for start-ups and connected businesses with start-up ideas.

Source: VNA