To promote the interest rate support program from the State budget for loans to businesses, cooperatives, and business households, which has now been implemented for three months, the State Bank of Vietnam has required that commercial banks review efforts and notify eligible customers.
As of the end of 2021, just 8 per cent of cooperatives around Vietnam had applied high technology and digital technology in production. The problem is that investing in high-tech agriculture is still risky because it requires a lot of funds but does not guarantee immediate success if there is a lack of staff and a weak distribution network.
A survey by the Vietnam Cooperative Alliance (VCA) on agricultural cooperatives in the three provinces of Hoa Binh, Quang Tri, and Soc Trang reveals that the application of information technology and digital transformation in management, administration, and trade promotion has failed to meet expectations.
