A scientific seminar was held in Ho Chi Minh City on October 14 to discuss opportunities for developing sustainable agribusiness in Vietnam.

The event was co-organised by the Food Agri and Aqua Business Sector Committee (FAASC) under the European Chamber of Commerce and the EU-Vietnam Business Network. It provided a clear vision for the agribusiness sector in the context of Vietnam’s deep and broad integration into the world economy.

The agricultural sector plays a vital role in the country’s economy, accounting for nearly 20 percent of the gross domestic product (GDP). However, it still faces numerous major challenges, especially with regard to food security, experts stated during the seminar.

FAASC President Gabor Fluit said Vietnam would need to implement sustainable development strategies to be able to feed approximately 100 million Vietnamese citizens and participate in a global market with over 6 billion people in the future. The sustainable development framework would help the country overcome a number of challenges and make full use of the opportunities of globalisation.

Alain Cany, the Chairman of the Jardine Matheson Vietnam Group, pointed to a reduction in the number of agricultural investment projects in Vietnam in recent years, which contributed to a decline in the country’s agricultural exports.

He suggested the country focus on the application of advanced technologies, vocational training and skills development.

During the seminar, European and Vietnamese experts discussed measures to enhance the development of the agricultural sector and ensure sustainable food security.-VNA