To complete the incentive tax policies for specialized machinery and equipment for agricultural production in Vietnam

To complete the incentive tax policies for specialized machinery and equipment for agricultural production in Vietnam (Internet image)

On August 8, 2024, the Minister of Agriculture and Rural Development issued Decision 2771/QD-BNN-KH on the Action Plan of the Ministry of Agriculture and Rural Development to implement Resolution 111/NQ-CP on the Action Program to implement Resolution 29-NQ/TW to continue promoting the industrialization and modernization of the country by 2030, with a vision to 2045.

To complete the incentive tax policies for specialized machinery and equipment for agricultural production in Vietnam

For the task of “Building and perfecting mechanisms and policies to accelerate agricultural and rural industrialization and modernization,” the Ministry of Agriculture and Rural Development of Vietnam has proposed the following contents:

- Build, perfect, and apply the system of national standards and technical regulations on machinery, equipment, technology in agriculture, processing capacity, and processed agricultural products; the system of national standards on traceability for agricultural product sectors. Update and harmonize with common international standards, regional standards, and standards of major markets.

- Develop and perfect policies to encourage the development of synchronous mechanization in agriculture to support organizations and individuals investing in synchronous mechanization in production and processing; encourage innovation, creativity, and the application of science and technology, deep processing, product development, branding, and market expansion; enhance the quality of management and direct labor resources in agricultural mechanization and agricultural product processing. Innovate mechanisms and policies to encourage enterprises to invest in agriculture and rural areas, thereby promoting agricultural product processing and agricultural mechanization.

This will promote the economic structure transformation of rural areas towards rapidly increasing the proportion of industrial and service product value and labor, reorganizing production according to value chains, and developing production- processing-consumption linkage clusters for agricultural products.

- Review and perfect tax incentive policies for machinery and equipment serving agricultural production and processing of agricultural products; innovate credit policies serving the development of agricultural mechanization and processing of agricultural products.

- Perfect agricultural trade policies; prioritize the development of national brands for key agricultural products associated with the Vietnam National Brand Program and the Vietnam Food Industry Brand Program. Promote brand advertising, resolve trade disputes, and remove barriers to markets importing Vietnamese agricultural products.

- Strengthen the application of advanced quality management systems to production in agricultural processing facilities to ensure quality and food safety; enhance the state management capacity over the quality of machinery, equipment, and technology in agriculture.

- Implement policies and laws to encourage the accumulation and concentration of land to facilitate synchronous mechanization in agriculture; production of raw materials for agricultural processing; prioritize land allocation, land rental with preferential policies for industrial processing facilities, wholesale markets, and agricultural product auction centers.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE