The Ministry of Finance is drafting an amended circular proposing financial assistance for the development of startups in rural areas.

It suggested providing support covering 50 per cent of training costs to improve technological skills and production techniques, to a maximum of VND30 million ($1,265) per training course. Each startup will receive support for no more than five training courses.

The draft circular also proposes support covering 100 per cent of costs when startups sign contracts and pay for institutes or schools to conduct experiments and develop their products, to a maximum of VND30 million ($1,265) per contract. Each startup will receive support for a maximum of five contracts.

Startups will also receive funding covering 75 per cent of costs for packaging designs, labels, advertisements, and brand building. Each startup will receive a maximum of VN150 million ($6,330).

The government has set a target of the agriculture, forestry, and fisheries sector posting average GDP growth of 2.5-3 per cent a year by 2030. Export value is expected to increase 5-6 per cent annually.

Incomes in rural areas are to rise 2.5-3-fold compared to the figure in 2020, while the rate of multi-dimensional poor households in rural areas is targeted to fall 1-1.5 per cent a year.