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Opportunities abound for agriculture startups


HCMC – Newly established businesses in the agricultural sector can have a lot of growth opportunities as demand for food is rising as a result of growing populations at home and abroad, according to experts at a forum in the Mekong Delta city of Can Tho last week. 

Huynh Quang Vinh, deputy general director of An Giang Fruit-Vegetables & Foodstuff JSC, told a discussion at the Mekong Connect CEO Forum that the Mekong Delta is in dire need of solutions and equipment to preserve post-harvest farm produce.

Meirav Eilon Shahar, Israeli Ambassador to Vietnam, said in a video clip shown at the discussion that domestic business startups are mainly in the cell phone and Internet-related sectors. This is normal but more startups in the agricultural sector should be encouraged in Vietnam where 70% of its population is active in farming, aquaculture and related sectors.

The world’s population has grown while natural resources have been gradually depleted, so it is important to apply advanced technologies and innovations to increase agricultural output, Shahar said.

Nguyen Khac Minh Tri, director of Mimosa Tek, a technology firm in the agricultural sector, said farmers need assistance to properly take care of their crops.

Experts said though there are many opportunities for startups in the agricultural sector, a small number of young people are interested in this sector.

Nguyen Tuan Quynh, general director of Saigon Fuel JSC, said youths do not dare to set up businesses in the agricultural sector as they are required to have big upfront capital and need a long time for capital recovery. In addition, it is difficult for investors in the sector to get access to bank loans due to a maze of requirements.

Vinh of An Giang Fruit-Vegetables & Foodstuff JSC advised youths to begin with small projects in preparation for carrying out bigger ones. Those wanting to invest in big projects have to prepare budgets for at least one year in which their projects do not generate revenue.

http://english.thesaigontimes.vn/42914/Opportunities-abound-for-agriculture-startups.html (150909)

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