The sector posted a growth rate of 2.94 percent, higher than the 2.84 percent set by the government. It earned USD36.37 billion from agro-forestry-fisheries export, over USD4 billion higher than the same period last year, and posted a trade surplus of USD8.55 billion, up more than USD1 billion year-on-year. Under the National Target Programme on New Rural Development, 2,884 communes have been recognised as new-style rural areas, or 32.3 percent of the total, surpassing the goal of 31 percent. The rate of forest coverage reached 41.45 percent while violations in forest protection management fell by 23 percent and damages from deforestation and forest fires declined by 68 percent year-on-year. Those achievements were made despite unfavourable weather conditions this year with a record 16 tropical storms, along with floods on wide scale. Total damage from natural disasters is estimated at roughly VND60 trillion (USD2.66 billion) this year, much higher than VND39 trillion in 2016. Source: VNA Tuan attributed the growth to agricultural restructuring in combination with new rural development in adaptation to climate change.Instead of rice cultivation, priority is switched to high-value produce such as aquatic products, fruits and vegetables, and wooden furniture. Export of aquatic products hit a record USD8.4 billion for the first time while wood and forestry shipments reached an all time high USD8 billion. More than 1,400 cooperatives and 1,000 working groups were established, raising the total number of cooperatives to 12,200, more than 30 percent of which operate efficiently. Nearly 2,000 firms operating in agro-forestry-fisheries were…
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Fisheries reboundThe agricultural sector’s GDP growth of 2.65 percent was the highest level recorded in the first half of the year compared to the past two years. It consisted of 2.01 percent growth of agriculture, 4.31 percent in forestry and 5.08 percent in fisheries.Fisheries recorded the sector’s highest growth due to favorable weather conditions. It also benefited from the support of the Ministry of Agriculture and Rural Development and local authorities for recovering production capabilities and getting compensation for damages caused in the Formosa incident in four central coastal provinces of Ha Tinh, Quang Binh, Quang Tri and Thua Thien…... [read more]
A view of the capital city of Hanoi (Photo: VNA)Vietnam expects to grow at 6.5-7 percent for the next five years, according to a Government report tabled recently at the National Assembly on socio-economic development in 2015 and 2011-15 as well as the targets for the next five years. It forecasts GDP growth to be 6.7 percent in 2016.The Government's website, chinhphu.vn, asks Tran Dinh Thien, Director of the Vietnam Institute of Economics, about this.* What is your opinion about the Government's report on the economy for 2011-15 and the economic growth targets for the next five years?The report was…... [read more]
Vietnam has emerged from a poor country in the last two decades where the government used to ration rice and other staples to a lower middle-income nation. The country’s success, however, has come at a price, said the World Bank in its newly released Vietnam Development Report 2016, titled “Transforming Vietnamese Agriculture: Gaining More from Less”. “The country’s agricultural output is exacting a price on the environment,” Ousmane Dione, World Bank’s Country Director for Vietnam, said at a press conference Tuesday in Hanoi. “'Business-as-usual' is no longer an option for the sector–growth has slowed down, it is vulnerable to climate…... [read more]
Although the city has paid attentionto enhancing advanced technology in agricultural production in thepast, the value of agricultural production has grown at a modest rate ofabout 5 percent per year.The average revenue per hectare under agricultural production in the city is about 280 million VND (13,213 USD) per year.Ifmaintaining such a growth rate, the sector would reach the productionvalue of 800 million VND (37,753 USD) per hectare by 2020 as set in themaster plan for agricultural restructuring, the department said.LeMinh Dung, Deputy Director of the department, said the city was callingfor enterprises to invest in the hi-tech agricultural sector anddevelop…... [read more]
The agriculture sector will have to step up efforts in many areas to meet three major targets set for the year, Minister of Agriculture and Rural Development Nguyen Xuan Cuong has said.He was speaking at a conference in Ha Noi late last week to review the sector’s performance in the first half of this year and set orientations for the second half.The three major targets the minister referred to are: a growth rate of 3.05 per cent; US$33 billion in export turnover of agriculture, forestry and fisheries; and 31 per cent of the country’s communes meeting new-style rural area standards.Cuong…... [read more]
Country Director of the World Bank for Vietnam Ousmane Dinoe has warned that Vietnam should change its agricultural techniques to ensure higher quality products and sustainable development. Country Director of the World Bank for Vietnam Ousmane Dinoe (second from the left) According to the World Bank's report, Vietnam's agricultural sector has recorded good results, going from a country that needed to import food to a food exporter. However, despite being the top rice exporter, the quality of local products leaves much to be desired, profits that farmers actually earn are small, the technology and creativity are also weak. Agricultural growth…... [read more]
Foreign Direct Investment (FDI) into Vietnam's agriculture sector remains limited despite the industry's vast potential to develop, according to the Foreign Investment Department. Data from the department showed that as of September this year, there were 518 FDI projects inolved in the field, accounting for just 2.4 percent of the total number of projects. Each agricultural project costs $6.7 million on average while the average investment capital of all FDI projects stands at $14.7 million. In addition, the proportion of investment in agriculture remains modest though it has increased over the last few year. Last year, one percent of total…... [read more]
Participants at the conference reported that during the 2000-2005 period, the average agricultural economic growth rate reached approximately 5 percent annually. The agricultural sector has not fully tapped its potential, they said. According to Mr Phat, the sector’s unstable development was attributed to improper zoning work and poor management, particularly at the district and communal levels. Agricultural production is not stable, while collective economic organisations, including co-operatives, develop at a low pace. The minister stressed that in the coming time, it is essential to implement comprehensive measures to achieve an agricultural economic growth rate of 9-11 percent in…... [read more]
The statement came out after a conference recently held in Hanoi to review the agriculture sector’s performance in 2016 and discuss development plans for next year.Minister Nguyen Xuan Cuong said the sector had made three important achievements this year: growth of 1.2%, export revenue of US$32.1 billion, up 6% against last year, and higher food safety.The export turnover spike has resulted from a significant rise in exports of major products, including coffee with a 25.5% year-on-year increase, cashew nuts with an 18% improvement, pepper with a 13% surge and seafood with a 6.3% upstick As for next year, the ministry will…... [read more]
Illustrative image (Source: VNA)Hanoi (VNA) – The agricultural sector was urged to exert all-out efforts in the remaining months of the year to realise the sector’s growth target of at least 1.2 percent in 2016.Speaking at a press conference hosted by the Ministry of Agricultural and Rural Development (MARD) in Hanoi on November 9, Deputy Minister Ha Cong Tuan said the sector will take measures to maintain growth of fruit, vegetable and aquaculture exports.He asked for special attention to fostering exports, controlling quality of exports and ensuring food safety to ensure entry to demanding markets like Japan and Europe.According to…... [read more]
