Vietnam promotes mechanisation in agriculture
(VOVWORLD) - The Vietnamese government’s implementation of supporting policies to reduce losses in agriculture has improved the level of mechanisation in Vietnam, India-based Ken Research has reported.
Its analysts say Vietnam is a growing agricultural machinery market and is gradually recovering from the pandemic. The increasing credit availability in Vietnam along with tax exemption is driving the growth of the industry.
An increased focus on promotional and marketing activities, new product launches, and new partnerships & collaborations are expected to continue driving the industry. Vietnam’s agricultural machinery market is forecast to grow at a compound annual growth rate of 6.4 percent from now until 2025.