With the cooperation of the European Union (EU), Vietnam aims to develop a modern and sustainable agricultural product supply chain by 2030. Under this goal, Vietnam’s mechanization rate would reach over 60% for animal husbandry, 70% for crops, and 95% for aquaculture. Moreover, 60% of Vietnam’s agricultural export staples would be processed goods, and over 70% of the country’s key agricultural processing facilities would apply medium-to-high-level technology.
The Vietnamese government has committed to creating favorable conditions for businesses within the agricultural sector, including tax incentives and training programs to build a high-quality workforce. The banking sector is also involved, offering preferential loans for agricultural growth, particularly for initiatives that create large-scale farm produce processing, storing, and distribution hubs.
The EU would assist Vietnam in achieving this goal by further encouraging businesses to invest in Vietnam. It was stated that the EU Commissioner would continue to support a conversation process between businesses and businesses, as well as between businesses and the governments of the two sides, to improve communications and connectivity and look into business collaboration potential. In order to address the risks associated with global food security, Vietnam is also prepared to work with the EU to develop a tripartite model of an entire agricultural supply chain.
As for the sustainability aspect, the EU would further promote cooperation with Vietnam to adapt to climate change and reduce agricultural emissions, in support of Vietnam’s commitments at the 26th United Nations Climate Change Conference of the Parties (COP26). The Southeast Asian country also hopes to receive support from the EU in the areas of clean agriculture and expertise in developing a set of technical standards that adhere to EU standards.