VND10 MILLION FUNDING FOR NEW ESTABLISHMEBNT OF RURAL INDUSTRIAL PRODUCTION

The Ministry of Finance (MOF) and the Ministry Industry and Trade recently issued Circular 26/2014/TTLT-BTC-BCT dated February 18, 2013 on the use and management of the national and local industry promotion funding.

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funding for national industrial promotion activities managed and implemented by the Ministry of Industry and Trade and local budget to ensure funding for the promotion of local activities managed and implemented by (Provincial or commune) People’s Committees.

Besides, the Circular also specifically details budget for activities as below: The maximum aid funding for new establishment operating in rural industrial production in difficult areas is VND10 million; National industry promotion activities will be supported up to a maximum of 30 percent, but not exceeding VND500 million per technical demonstration model; The maximum aid funding for efficient rural industrial facilities that need to be expanded for other organizations and individuals to follow is VND100 million a model; Up to 50 percent but not exceeding VND200 million per new technological application; 100% ticket for rural agricultural base to survey participants, study abroad experiences, etc

Ministry of Industry and Trade is responsible for monitoring, evaluating and periodically reporting to The Prime Minister on the implementation task in rural industrial activities nationwide.

The Circular take effects on April 08, 2014 and replace Circular No. 125/2009/TTLT-BTC-BCT dated June 17, 2009.