December 12, 2005

Vietnam might financially aid poultry processing businesses

Vietnam's Ministry of Agriculture and Rural Development has urged the government to provide financial aid to poultry processing businesses, according to an agriculture official. The suggestion came at a time when the recent bird flu outbreaks hurt the domestic poultry industry.
 

The proposal suggested that interest-free loans should be granted to those businesses, allowing them to quickly purchase, slaughter, process and preserve poultry and related products, said Nguyen Thanh Son, vice director of the agriculture ministry's animal breeding department.

In addition, the government was also urged to allow the businesses access to preferential loans. This would allow equipment purchase and exemption from corporate income tax with regards to processed and preserved poultry products.

According to the Vietnam Animal Breeding Association, the domestic poultry industry raised nearly 220 million birds, and provided markets nationwide with over one million tonnes of meat and about one billion eggs each year.