Vietnam: Budget support up to 3 million VND/ha/year for high-quality rice land

Published Sep 16, 2024

Tridge summary

The Vietnamese Government has issued Decree No. 112/2024/ND-CP to increase financial support for specialized rice-growing land. From 2025, such land will receive VND 1,500,000/ha/year, and remaining rice-growing land will receive VND 750,000/ha/year, except for upland rice land. The decree also supports enterprises investing in irrigation and traffic works in high-productivity, high-quality rice-growing areas up to 100% of the cost. Additionally, cooperatives and cooperative unions can receive up to 100% of the investment capital for project infrastructure construction and purchasing production lines, equipment, technology, and technology copyrights, but not exceeding 5 billion VND/project.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Government has just issued Decree No. 112/2024/ND-CP dated September 11, 2024, detailing regulations on rice-growing land; investment, investment support, infrastructure construction, application of modern science and technology for high-yield and high-quality rice-growing planning areas. Accordingly, from January 1, 2025, the State budget (NSNN) will increase the support level for specialized rice-growing land. Specifically, the budget supports VND 1,500,000/ha/year for specialized rice-growing land; supports VND 750,000/ha/year for the remaining rice-growing land, except for upland rice land that is spontaneously expanded without following the planning and land use plan for rice cultivation; Notably, according to the new Decree, the State budget will support an additional VND 1,500,000/ha/year for land specializing in rice cultivation in areas planned for high-yield and high-quality rice cultivation. According to Decree 112, the use of funds from people who are allocated ...

Source: Agriculture