Quang Ngai encourages investment in agriculture and rural areas.

The State supports investment by partially supporting investment costs or compensating interest rate differences for enterprises. At the same time, if the investment project is supported with different levels of support, the enterprise, cooperative, or cooperative union can choose to apply the most beneficial investment support level. The investment cost is the investment value that has been accepted for completion of the project item or the entire project according to the support rate for each item and project issued by the Provincial People's Committee.

Enterprises with investment projects in agriculture and rural areas as prescribed in Clauses 3, 4, 5, Article 3 of Decree No. 57/2018/ND-CP of the Government shall receive commercial loan interest rate support from the provincial budget after the project is completed and put into operation, as follows:

Support level: Equal to the difference between commercial loan interest rates and preferential state investment credit interest rates calculated on the actual outstanding debt at the time of reviewing the support application.

The interest rate support period for each loan is calculated from the disbursement date according to the credit contract with the commercial bank: Maximum 08 years for agricultural projects with special investment incentives; maximum 06 years for agricultural projects with investment incentives; maximum 05 years for agricultural projects with investment incentives. In case of projects of newly established small and medium-sized agricultural enterprises, the interest rate support period is 08 years.

Loan limit with interest rate support: Maximum not exceeding 70% of the total investment of the project. Specific support method: The budget for interest rate difference support for enterprises is implemented annually after the investment project is completed, put into operation, exploited and the project is accepted. Enterprises have a complete application for interest rate support according to regulations, along with credit contracts, documents for loan payment and payment of investment loan interest for the project, sent to the provincial financial agency. Projects in which enterprises participate in value chain linkage are applied for interest rate support according to the production cycle time of the product; the product production cycle is specifically determined in the project.

Cases that are not eligible for interest rate support include: Projects that do not ensure the scale and objectives approved in the investment policy or investment registration certificate, and cases of using commercial loans for the wrong purpose when investing in the project; overdue interest on loans for investment projects.

Enterprises, cooperatives, and cooperative unions are supported to invest in organic agricultural production projects in the field of cultivation, as follows: Support level: maximum 60% of investment costs and not more than 5 billion VND/project to build infrastructure for waste treatment, transportation, electricity, water, factories and purchase equipment within the project fence. Support conditions: The project must be implemented on schedule as approved by competent authorities; Organic agricultural production area is from 3 hectares or more; Organic agricultural production investment projects must meet National Standards on organic agriculture.

Enterprises, cooperatives, and cooperative unions are supported with investment in projects to grow safe vegetables, tubers, fruits, and mushrooms. Specifically: Support level: up to 60% of investment costs and not more than 1.5 billion VND/project to build infrastructure for factories, cages (greenhouses, net houses, membrane houses), warehouses, electrical systems, machinery, equipment, irrigation systems, and environmental treatment.

Support conditions: The project must be implemented on schedule as approved by competent authorities. The area for growing safe vegetables, tubers and fruits must be from 03 hectares or more or from 2,000 m2 of cage houses (greenhouses, net houses, membrane houses) or from 1,000 m2 of safe mushroom growing houses or more (including the area of production linkage with households in the project area). The investment project must meet the criteria for clean agricultural projects of the Ministry of Agriculture and Environment or meet the National Standards on organic agriculture.

Source: https://quangngaitv.vn/quang-ngai-khuyen-khich-dau-tu-vao-nong-nghiep-nong-thon-6508686.html