PM okays $4.4 billion package for high-tech agricultureVietNamNet Bridge – Prime Minister Nguyen Xuan Phuc has signed a resolution providing a credit package worth VND100 trillion (US$4.4 billion) to invest in the development of high-tech agriculture at lower than market rates. Prime Minister Nguyen Xuan Phuc has signed a resolution providing a credit package worth VND100 trillion (US$4.4 billion) to invest in the development of high-tech agriculture at lower than market rates. — Photo vneconomy.vnThe resolution stipulates that commercial banks must cut operation costs so they can set interest rates for enterprises or individuals engaged in high-tech agriculture production at 0.5-1.5 per cent lower than the current commercial interest rates. He added that over the past few years, only roughly 20 enterprises involved in high-tech agriculture accessed creditat low interest rates. He assigned the State Bank of Viet Nam (SBV) to instruct all commercial banks to implement the credit package in accordance to the Government’s instructions.

Source: VietNamNet News March 27, 2017 12:11 UTC