S. Korea grants nonrefundable aid for rice value chain

16-Jul-2019 Intellasia | The Saigon Times | 6:02 AM Print This Post

A project to develop a rice value chain has received funding of five billion Korean won, or $4.5 million, in nonrefundable aid from the South Korean government.

An agreement on the project, called “Improve the rice value chain in the Red River Delta, Vietnam,” was signed on July 12 by the Ministry of Agriculture and Rural Development and Korea Rural Community Corporation (KRC) to increase residents’ incomes and enhance production capacity in the region.

Besides this, the project is expected to add to the economic efficiency of the agriculture sector through the use of advanced technologies.

Speaking at the signing ceremony, deputy minister of Agriculture and Rural Development Le Quoc Doanh said that this was one of the activities that would strengthen comprehensive cooperation in the rural agriculture field between Vietnam and South Korea.

The project is scheduled to start in the northern province of Thai Binh in the 2019-2023 period.

It is designed to develop the agriculture sector in the Red River Delta region and build and operate a pilot cultivation area and an agricultural training centre in Thai Binh Province.

Apart from this, the project will also cover training courses in the agricultural field in the province and in South Korea for managerial staff and farmers.

It will offer technical support and provide agricultural equipment to serve the pilot farming area and the centre, aside from bringing together cooperatives and enterprises active in the agricultural field to run the area and centre sustainably after the project finishes.

Addressing the event, KRC Chair Kim In Sik noted he expected the project to contribute to boosting farmers’ incomes and improving the quality of Vietnamese rice.

At the signing ceremony, deputy minister Doanh said that over the past few years, South Korea, typically KRC, has significantly supported Vietnam in agriculture and other sectors.

Some projects funded by South Korea or KRC have brought in benefits, Doanh remarked, adding that Vietnam will continue to strengthen cooperation with South Korea and KRC.

Vietnam is focusing on restructuring the agricultural sector to increase added value, meet market demand and build new rural areas, Doanh said. The deputy minister noted that he expected South Korea would continue to support Vietnam with these targets as it is highly experienced in the field.



Category: Business, Vietnam

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