Policies for support for developing the livestock product market in Vietnam from September 20, 2024

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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