Delco Farm in Bac Ninh province (Photo: VNA)

The Ministry of Agriculture and Rural Development has said it is submitting a proposal to the Prime Minister for a decree on policies to encourage farm economic development.

According to the ministry, the formulation of the decree aims to create a complete and unified legal framework on mechanisms and policies encouraging the development of the farm economy. This would contribute to improving management efficiency and uniformity in farm economic management, and remove difficulties in the operation of farms to create favourable conditions for their development in accordance with legal provisions, including those related to land, construction, access to credit sources, science and technology application and non-agricultural activities.

It is expected to create conditions for owners to develop their farms and invest in expanding the development of large-scale production, thus contributing to promoting the transformation of agricultural and rural economic structure and improving the living standards of farmers.

Delco Farm in Bac Ninh province (Photo: VNA)

Vietnam currently has 19,667 farms that meet criteria set by the Ministry of Agriculture and Rural Development, including 4,325 cultivation farms, 12,013 husbandry, 129 forestry, and 1,267 aquaculture facilities.

The farms provide a large amount of agricultural product value to the market and contribute greatly to the national economy.

The farm economy has promoted the exploitation of bare land, hills and degraded land for agricultural, forestry and aquatic production, contributing to improving land use efficiency, especially in the midlands, mountainous and coastal areas, and bettering the ecological environment.

However, at present, farms in Vietnam are developing spontaneously with small production scale and low economic efficiency./.