Cash promised for rural start-ups

Update: January, 09/2019 - 09:00
Deputy Prime Minister Vương Đình Huệ and delegates launch the One Commune One Product (OCOP) programme on Tuesday. — VNA/VNS Photo Xuân Dự

HÀ NỘI — About VNĐ15 trillion (US$646 million) will be mobilised for One Commune One Product (OCOP) programme, said Deputy Prime Minister Vương Đình Huệ.

The programme funds individual communes to focus on producing a single special product.

Speaking at a ceremony held on Tuesday to launch the programme to students, Huệ said he expected the value of local products would be promoted to regional and national level.

The capital is sourced from the State budget, businesses, cooperatives and investment funds, he said.

“Many high quality OCOP products have been put on sale. A lot of domestic and foreign retail corporations have gone to the countryside to look for OCOP products to be sold at supermarkets and chain stores which guarantee quality and affordable prices.” he said.

As many as 30 provinces and cities have been implementing OCOP programmes with 34,000 products of high value, contributing to the economic development of localities and expanding export markets.

According to the Deputy PM, in many localities, farmers’ income and lives have been improved thanks to the implementation of OCOP.  He said students and young people could take part in the programme.

“We call on teachers and students from schools and young people in the localities to take part in start-up models for agricultural products and products from the rural economy that relate to OCOP,” Huệ said.

“Start-ups are designed to apply innovation, new science and technology achievements and management methods into these products with a view to promote local products around the globe.”

Huệ suggested universities and institutes could embark on this programme by establishing enterprises to develop OCOP products and other products from scientific research by students and lecturers.

According to the Deputy PM, there is a risk in investment in start-ups, especially those relating to innovation. Therefore, it was necessary to focus on seeking funding from private venture capital funds.

The Vietnamese Government is setting aside funding for small and medium enterprises which offers loans for start-up projects that are innovative and highly feasible.

The Deputy PM asked the Ministry of Agriculture and Rural Development and the Central Committee of Hồ Chí Minh Communist Youth Union to propose projects to venture capital funds and the Government for funding.

If successful, they would help convincing banks to invest capital.

The Ministry of Agriculture and Rural Development and the Central Committee of Ho Chi Minh Communist Youth Union signed a plan to raise awareness for officials, union members, young people and students.

It is designed to promote the role and importance of rural economic development; and promote the start-up movement for union members, young people, students and anyone who wants to take part.

Prime Minister Nguyễn Xuân Phúc on May 7, 2018 signed Decision No 480/QĐ-TTg approving the One Commune One Product (OCOP) programme in the 2018-2020 period.

Its objectives include developing strong agricultural, non-agricultural products and services in each locality towards forming value chains with the involvement of private and collective economic sectors. 

It is expected to contribute to the restructuring of the rural economy, reducing the migration of rural labourers to cities, protecting the environment and maintaining social stability in rural areas, while effectively implementing criteria for new buildings in rural areas. — VNS