JICA assists Vietnam in practising sustainable agrifinance
10:50, 2016/03/22
The Japan International Cooperation Agency (JICA) is helping Vietnam practice sustainable agrifinance in order to ensure long-term funding for agricultural activities and improve output.
A sustainable agrifinance model will be tested out in the Central Highlands province of Lam Dong, which is taking the lead on hi-tech agriculture in Vietnam.
Though advanced technology costs a lot, potential businesses are ready to spend the extra amount. Hence, financial assistance should be available to attract investment in agriculture, JICA Vietnam Chief Representative Mori Mutsuya said at a meeting in Hanoi on March 18.
Farmers who switched to floriculture in Lam Dong have earned nine times more than they did harvesting coffee. However, many farmers have been unable to build greenhouses and other necessary facilities for flower cultivation, as they lack the necessary funds, he noted.
Based on the case of Lam Dong, JICA suggested a comprehensive assistance programme to tackle bottlenecks in local agrifinance, ultimately looking to increase agricultural products’ value chain.
Mori Mutsuya said JICA’s proposed assistance would help agricultural businesses increase competitiveness. It aims to help large-scale farmers, while others working on a smaller scale will participate in cooperation contracts.
Specifically, the programme will help enhance farmers’ and agriculture companies’ ability of designing financially feasible business plans, thus accessing concessional bank loans more easily.
A similar programme has been carried out successfully in the Philippines, the JICA official said, adding that he hopes the programme will be successful in Lam Dong so it can be expanded to other localities.
In addition to the perferential ODA provision, JICA will also offer technical support to help augment banks’ abilities to verify loan-seeking dossiers and monitor enterprises’ use of the loans, Mori Mutsuya said.
Though advanced technology costs a lot, potential businesses are ready to spend the extra amount. Hence, financial assistance should be available to attract investment in agriculture, JICA Vietnam Chief Representative Mori Mutsuya said at a meeting in Hanoi on March 18.
Farmers who switched to floriculture in Lam Dong have earned nine times more than they did harvesting coffee. However, many farmers have been unable to build greenhouses and other necessary facilities for flower cultivation, as they lack the necessary funds, he noted.
Illustrative image
|
Mori Mutsuya said JICA’s proposed assistance would help agricultural businesses increase competitiveness. It aims to help large-scale farmers, while others working on a smaller scale will participate in cooperation contracts.
Specifically, the programme will help enhance farmers’ and agriculture companies’ ability of designing financially feasible business plans, thus accessing concessional bank loans more easily.
A similar programme has been carried out successfully in the Philippines, the JICA official said, adding that he hopes the programme will be successful in Lam Dong so it can be expanded to other localities.
In addition to the perferential ODA provision, JICA will also offer technical support to help augment banks’ abilities to verify loan-seeking dossiers and monitor enterprises’ use of the loans, Mori Mutsuya said.
14:43, 2024/11/18
Aircraft manufacturer Embraer seeks comprehensive aviation partnership with Vietnam
The Vietnamese leader urges the aircraft manufacturer to collaborate on technology transfer, airport construction and operation, research, and investment in Vietnam.
21:55, 2024/10/22
Better links with FDI firms to support Hanoi businesses
Hanoi will continue to focus on quality projects, especially with partners such as Japan, the United States, and Europe to boost technology transfer.
15:24, 2024/09/24
Vietnam calls for more US investment in innovation, hi-tech
The Vietnamese leader called on relevant agencies to resolve any challenges faced by investors and enhance the investment climate to encourage greater US investment in Vietnam.
14:13, 2024/09/23
Vietnamese leader urges Boeing to build production facility in Vietnam
Boeing is committed to continuing to support the development of Vietnam's aviation ecosystem, focusing on aviation infrastructure, human resources training, airport construction, and aircraft maintenance facilities.
14:38, 2024/09/17
Foreign capital pouring into Vietnam's real estate market
Experts are optimistic that the 2024 Land Law, once enacted, will help resolve legal bottlenecks and attract more FDI.
16:27, 2024/08/24
Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years