Investors in aquaculture, breeding, or growing macadamia trees able to access support funding.
The Ministry of Finance (MoF) has introduced Circular No. 30 on assisting enterprises to access a policy that encourages those investing in Vietnam’s agriculture sector.
Enterprises planning to invest in aquaculture or breeding will receive a support from the State budget. Those intending to grow macadamia trees on an area of 50 hectares or more will receive VND15 million ($714) in support for each hectare. Enterprises planning to produce more than 500,000 macadamia seedlings per year will receive support for 70 per cent of their investment costs.
Funds from the State budget will be allocated to investors annually. Funds provided as support to macadamia growers will cover 70 per cent of the investment and be disbursed after their planting projects are completed.
Macadamia trees have recently been referred to as a “billion dollar tree” in Vietnam because of their suitability with the country’s climate and the expectation that they can bring handsome profits to investors and farmers. The Him Lam Corporation and LienVietPostBank have introduced a roadmap for the investment and development of macadamia trees, with investment capital of VND20 trillion ($950 million) in the first of five years.