On August 1, 2024, the Government of Vietnam promulgated Decree 106/2024/ND-CP stipulating policies for support for developing the livestock product market in Vietnam from September 20, 2024
According to Article 6 of Decree 106/2024/ND-CP, regulations on policies for support for developing the livestock product market in Vietnam are as follows:
Beneficiaries
Organizations and individuals implementing projects to develop the livestock product market.
Content and Level of Support
- Support for investment shall not exceed 50% of the total cost of building cold storage for livestock and poultry meat products; maximum support level shall not exceed VND 3 billion per cold storage.
- Support shall not exceed 30% of the total cost for brand promotion of products; maximum support level shall not exceed VND 1 billion per project.
- Support shall not exceed 30% of the total cost for training and developing market strategy for livestock products, with a maximum support level not exceeding VND 100 million per project.
Conditions for Support:
- Development of the livestock product market in line with the local socio-economic development plan.
- Building and developing the market for livestock products with value chain links from breeding - slaughtering - processing or breeding - slaughtering - processing - consumption.
- Investment projects are implemented in accordance with lawful investment regulations and accepted results for the support content specified in point a, clause 2, Article 6 of Decree 106/2024/ND-CP.
- There must be invoices and documents related to the expense items implemented.
More details can be found in Decree 106/2024/ND-CP which comes into force in Vietnam from September 20, 2024.
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