Minister of Agriculture and Rural Development Le Minh Hoan envisions the agricultural sector moving beyond food production to exploit new value domains, highlighting it must develop multi-purpose and multi-layered value to make breakthroughs in the new era – that of the nation's rise.
The export of agro-forestry-aquatic products has created a breakthrough this year, generating 62.5 billion USD, up 18.7% year on year, with a record trade surplus of 17.9 billion USD, marking a remarkable 46.8% growth rate compared to the previous year, according to the Ministry of Agriculture and Rural Development (MARD).
Vietnam’s agro-forestry-aquatic product exports are projected to surpass 62 billion USD this year, with a record trade surplus of 18.6 billion USD, marking a new milestone for the sector. This promising achievement signals potential for even stronger growth in 2025, industry insiders have said.
In 2024, the agricultural sector stepped up trade promotion and the analysis of foreign markets so as to align domestic production with their requirements and standards.
Indonesia is encouraging Gen Y and Gen Z to join the agricultural sector by promising modern technology and offering a salary of 10 million IDR (640 USD), five times higher the current average farmer's wage.
Vietnam’s exports are expected to thrive in the remaining months of the year thanks to local businesses' concerted efforts and robust results during the January – September period, according to insiders.
Vietnam is currently a signatory to 16 free trade agreements (FTAs), which are described as highways connecting Vietnam's economy with major trading partners in the world. In the agricultural sector, FTAs have become a powerful driving force, marking significant achievements across the entire industry.
The agricultural sector should make concerted efforts to remove market bottlenecks and develop brands for agro-forestry-fishery products in the international markets, a Party official said on June 14.
Vice Chairman of the People’s Committee of the Mekong Delta city of Can Tho Nguyen Ngoc He and Malaysian Ambassador to Vietnam Dato’ Tan Yang Thai explored possibilities for further bilateral cooperation, with a particular focus on agricultural sector, during a local working session on March 5.
Promoting green production is not only an important factor to ensure the sustainable development of the agriculture sector but also a requirement from the market, according to experts.
Vietnam, together with China and some other Asian countries, is among the 20 countries with the fastest economic growth over the last 10 years, according to Yahoo Finance.
The export turnover in October is expected to reach 32.3 billion USD, up 5.3 month-on-month, showing a positive signal given the 6.3% decrease recorded in the previous month.
Aiming to become the world's food supplier, Thailand is making efforts to incubate innovation in its agricultural sector, improve farming methods to increase the productivity and value of agricultural products, as well as support farmers in the transition to smart agriculture.
Vietnam not only wants to implement international commitments but to create new values for agricultural development accompanied by environmental protection, preserving resources for future generations, and contributing to global sustainable development.
The agricultural sector will need to focus on key products with high export potential to compensate for products that are not expected to meet the yearly export turnover target.
Vietnam's exports of agro-forestry-aquatic products are forecast to rebound in the second quarter as import market economies have shown signals of recovery, insiders have said.
Vietnam’s water demand is likely to reach about 122 billion cu.m each year from 2030, 1.5 times higher than the current amount, which means water shortage may become severe if the country fails to effectively manage the resources, said Deputy Director of the Department of Water Resources Management under the Ministry of Natural Resources and Environment (MoNRE) Nguyen Minh Khuyen.
Last year, agro-forestry-fisheries exports hit a record of 53.22 million USD, up 9.3% year on year, with a trade surplus of 8.5 billion USD, accounting for 76% of the total trade surplus of the country.
