The People’s Committee of northern Bac Kan province launched the Agro-Forestry Promotion and Investment Fund (APIF) at an investment promotion conference on June 29, aiming to encourage public-private partnership in the fields of agro-forestry and tourism.
The fund will provide financial assistance from US$30,000 to US$100,000 for investment initiatives taken by private investors which meet requirements of APIF.
In special cases, this assistance can reach up to US$250,000. The fund is part of the Pro Poor Partnerships for Agro-Forestry Development project (3PAD) which has received US$2 million from the International Fund for Agricultural Development (IFAD) and technological support by the Netherlands Development Organisation.
Ly Thai Hai, Deputy Chairman of the provincial People’s Committee and Director of Planning and Investment Department, affirmed that investment in agro-forestry and tourism would contribute to the sustainable poverty reduction in remote areas and ethnic minority region.
Atsuko Toda, Director of 3PAD project in Vietnam, said that the fund will help investors reduce costs and risks when investing in the poor province.