According to the Ministry of Agriculture and Rural Development, Vietnam has targeted to modernize and transform the country’s agriculture by 2030. Accordingly, the sector is expected to achieve annual growth of 2.5-3% until 2030, with agricultural productivity of 5.5%. In addition, the country is looking for new markets for its agricultural products in order to enhance the value by 5-6% per year.
The transforming process requires Vietnam to shift its focus to producing high-quality products with added value to fulfill market demands. At the same time, improving rural infrastructure and raising farmers’ living standards are among the country’s top priorities in the following decades. By 2050, the country targets transforming rural areas into developed agricultural production hubs, where state-of-the-art and environmentally sustainable technologies are implemented.
In addition, Vietnam also aims to improve agricultural stakeholders’ income, life quality, role, and status, create non-agriculture jobs to help rural residents alleviate poverty, ensure equal development opportunities across regions, and comprehensively develop rural areas.
The Free Trade Agreement between Vietnam and the EU (EVFTA) has supported the exports of Vietnam’s agricultural products to European markets. Recently, the Vietnamese firm Loc Troi Agricultural Products JSC shipped over 4,500 tonnes of rice to Sweden, with a total turnover of around USD 3 million.
(Source: Farmweek News)