VN seeks to accelerate agricultural restructuring

Accelerating agricultural restructuring towards large-scale and high-tech production became critical for the sector involving 70 per cent of the country’s population but contributing just below 20 per cent of the country’s gross domestic product (GDP). At a recent working session with the Prime Minister’s economic consultants team, Minister of Agriculture and Rural Development Nguyen Xuan Cuong said the agricultural sector was facing growing competition and technical barriers. Cuong said the restructuring process helped improve the production capacity significantly with many products now in surplus. However, scattered production and low productivity were still problems that needed a resolution, Cuong said, adding Viet Nam had 8.6 million farmer households and 78 million fields. Cuong expected the PM’s team to study and propose policies to reduce the proportion of labour in agriculture, attract investments in infrastructure, especially in the irrigation system, develop markets and improve land policies. According to Nguyen Dinh Cung, director of the Central Institute for Economic Management, restructuring the agricultural sector was a hard job because it was difficult to determine the dominance in the global value chain. He, however, believed Viet Nam could be successful in the effort. Cung said it was important to remove bottlenecks in land policies, especially land limit, to encourage investments and promote large-scale production. Truong Dinh Tuyen, former Minister of Commerce (now the Ministry of Industry and Trade) said Viet Nam should develop the food and food-processing industry but be selective as many fresh products could be sold for high prices. In addition to… [Read full story]

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