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Over 5,000 agricultural enterprises incur losses (17/05)
06/08/2010 - 121 Lượt xem
The ministry has released a report, which says that only 60% of enterprises in agriculture are making profit, while the remainder are incurring losses, although the number of unprofitable enterprises has decreased over the last three years.
According to Doan Dinh Thiem, Head of MARD’s State Owned Enterprise Renovation and Management Committee, the average loss is VND800mil -1bil/entity.
The majority of agricultural enterprises are small and medium scale, 60% of them have total capital of less than VND10bil ($625,000). In the field of seafood production, all enterprises have capital of less than VND10bil. Only 1% of enterprises in any field have capital of more than VND200bil ($1.2mil).
MARD officials said at a business forum held in Hanoi on May 17, that agricultural enterprises have been through a very low growth period, compared to enterprises operating in other fields.
This is why the ministry has put forward several solutions aiming to support agricultural enterprises, including VAT and corporate income tax (CIT) exemptions on several subjects. In addition, enterprises will not have to pay land lease fees for the first decade of their operation and can enjoy a 50% reduction on lease for the following 10 years.
Ha Yen
Source: VietnamNet
