Agro-forestry-fishery posts highest GDP growth in decade

The gross domestic product (GDP) of agriculture, forestry and fishery is estimated to expand from 3.95 percent to 4.05 percent in the first six months of 2018, the highest level in 10 recent years.
Agro-forestry-fishery posts highest GDP growth in decade ảnh 1Fishermen in central coastal Quang Tri province (Photo: VNA)

Hanoi (VNA) –
The gross domesticproduct (GDP) of agriculture, forestry and fishery is estimated to expand from 3.95percent to 4.05 percent in the first six months of 2018, the highest level in10 recent years.

The production value of agro-forestry-fishery isexpected to increase by 4.2 percent, of which cultivation will record ayear-on-year rise of 4.12 percent, animal husbandry 2.04 percent, forestry 5.21percent and aquaculture 6.49 percent.

Speaking at a conference of the Ministry ofAgriculture and Rural Development in Hanoi on June 28, Minister Nguyen XuanCuong recognised the sector’s proactive implementation of measures to achieveset targets for the January-June period.

In cultivation, 32,800 hectares of ineffectiverice land has been shifted for vegetables, fruit trees and perennial industrialtrees with high economic efficiency while the use of high-quality varieties hasbeen increased along with the expansion of large-scale fields of rice and othercrops and the promotion of production according to Vietnamese Good AgriculturalPractices.

Livestock production is generally favourablewith stable prices of beef and poultry products. Some livestock products havebeen exported to markets with high requirements for quality and control of foodhygiene and safety.

The favourable weather conditions make it easierfor fishing activities. Added to that, ministries and localities have activelyimplemented policies to support production and continue compensating damages,stabilising lives and resuming production for people in four central provincesaffected by the marine environmental incident in 2016.

Aquaculture production was estimated at 1.79million tonnes, up 6.2 percent over the same period last year with high growthin brackish water shrimp and tra fish.

The restructuring of the forestry sector isquite significant with the operation of high value forestry production modelsand large-scale timber trade ones. Particularly, the production and processingof forestry products for exports have seen strong development while thedomestic wood market has been thriving.

As of June 25, the country had 3,370 communes(37.76 percent) recognised as new rural areas. The ratio is expected toincrease to 40 percent at the end of this year. 

Head of the Department of Planning under theMinistry of Agriculture and Rural Development Nguyen Van Viet said theagricultural production outcomes in the first six months of the year illustratesan optimistic economic panoramic, which will create a momentum for growth inthe last remaining months. 

The UN Food and Agriculture Organisation (FAO)forecast that the global rice trade will continue growing along with the surgeof tropical fruits and high demand for aquatic products. 

Therefore, the country’s export of farm produce is likely to maintain highergrowth than the first six months (over 12 percent) and the yearly export targetis projected to reach 40-41 billion USD. 

The country could harvest 43.9 million tonnes of rice, up at least 1.2 milliontonnes compared to 2017, if the weather is favourable. 

It is expected to rake in over 5.5 billion USD from selling abroad tea, coffee,rubber, pepper and cashew nuts in 2018 and 4.5-4.7 billion USD from vegetablesand fruits. 

Minister Cuong said in 2018, the Government has assigned ministries to ensurehigh growth targets in the context of challenges posed by climate change,fiercer global competitiveness, trade protection barriers from countries, andrisks of diseases. 

Thereby, ministries need to follow growth scenarios and targets of theGovernment’s Resolution No.1/NQ-CP on key tasks and solutions to realisingsocio-economic development plans and State budget estimate 2018.-VNA 
VNA

See more

Prime Minister Pham Minh Chinh addresses the 21st meeting of the State steering committee for national key projects in the transport sector. (Photo: VNA)

Entire Cao Bang - Ca Mau expressway must be inaugurated on December 19: PM

PM Chinh, who is head of the steering committee, asked all parties involved to strive hard to achieve the goal of putting 3,000 kilometres of expressways and approximately 1,700 kilometres of coastal roads into operation in 2025, thus creating momentum to welcome the 14th National Party Congress and meeting the travel needs of the people during New Year 2026 and the Lunar New Year Festival.

Prime Minister Pham Minh Chinh (C) presides over the 21st meeting of the State steering committee for national key projects in the transport sector. (Photo: VNA)

Government leader presides over meeting on national key transport projects

Noting that there are less than two months left until December 19 - the date set for the simultaneous ground-breaking and inauguration ceremonies of major projects, the PM emphasised that this is a crucial period to accelerate progress and make breakthroughs in the implementation of key projects and works.

Harvesting cage-farmed tilapia (Photo: VNA)

Vietnam exports first shipment of tilapia to Brazil

This shipment is one of 32 containers, totalling 700 tonnes of tilapia, ordered and imported by JBS Group from Vietnam. The products will first be distributed through HORECA supermarket and distribution network, and showcased in JBS's product display centre in Brazil.

Road leading to VSIP Can Tho at the intersection with National Highway 80 (Photo: VNA)

Green industry lures more FDI to Mekong Delta

The Mekong Delta region, having earned the monikers of the rice bowl, fruit and seafood basket of the country, and following the restructuring of administrative units, is now standing at the threshold of becoming a modern, sustainable industrial centre.

The codification of Resolution 42 into the law, effective from mid this month, is an important step, marking a key milestone in completing Vietnam’s NPL resolution process. (Photo: thoibaonganhang.vn)

Bad debt settlement fully benefits from new policy from H2 2026

Resolution 42, enacted in 2017 to pilot bad debt settlement for credit institutions, was introduced in response to a sharp rise in non-performing loans (NPLs). It empowered credit institutions to seize and liquidate collateral assets, expediting debt recovery. After more than six years of implementation, the resolution delivered certain results but expired last year.

The total retail sales of goods and consumer service revenue were estimated at 5.7 quadrillion VND for the first 10 months of the year. (Photo: VNA)

Retail sales growth remains stable over 10 months

With the current recovery momentum, the trade and services sector is expected to continue being a bright spot in Q4, driving GDP growth and ensuring a balance between domestic consumption and exports amid ongoing global economic fluctuations.

Delegates at the event (Photo: Ministry of Finance)

ASEAN meeting to drive regional cooperation, growth by removing barriers

Running from November 5–11, CCS 111 focuses on advancing service liberalisation and facilitation in ASEAN by removing barriers, enhancing transparency, reducing policy risks, and simplifying administrative procedures to enable businesses and service providers to operate more efficiently.

Goods at Hai Phong Port in northern port city of Hai Phong. (Photo: VNA)

Vietnam determined to build transparent global trade system

The Government of Vietnam on November 6 updated the World Trade Organisation (WTO)’s Committee on Rules of Origin (CRO) on adjustments to the agencies and organisations authorised to issue certificates of origin (C/O), as well as on the application of QR codes in the C/O issuance process.

SemiExpo Vietnam 2025, themed “Powering Vietnam’s Semiconductor Ambition,” brings together around 5,000 delegates and feature 200 booths from major global technology corporations (Photo: VNA)

Vietnam opens largest int’l semiconductor exhibition

SemiExpo Vietnam 2025, themed “Powering Vietnam’s Semiconductor Ambition,” brings together around 5,000 delegates and feature 200 booths from major global technology corporations such as Lam Research, Coherent, Qorvo, Amkor, GlobalFoundries, Micron, Tokyo Electron, KLA, STMicroelectronics, Soitec, and Siemens.

Consumers learn about Hanoi's OCOP products. (Photo: VNA)

Hanoi launches digital booths to promote e-commerce

Hanoi will open an online store showcasing Hanoi's products on the e-commerce platform Shopee. It will introduce digital tools such as electronic signatures, e-contracts, e-invoices, and product traceability systems for local producers and businesses participating in the booth.