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Great potential for Vietnam to develop billions-USD ginseng industry: President

Vietnam has high potential to develop a ginseng farming and processing industry that generates billions of USD, stated President Nguyen Xuan Phuc at the opening of the Lai Chau Ginseng Fair 2022 in the northern mountainous province of Lai Chau on November 11.
Great potential for Vietnam to develop billions-USD ginseng industry: President ảnh 1President Nguyen Xuan Phuc visits a booth at the fair (Photo: VNA)
Lai Chau (VNA) - Vietnam has high potential todevelop a ginseng farming and processing industry that generates billions ofUSD, stated President Nguyen Xuan Phuc at the opening of the Lai Chau GinsengFair 2022 in the northern mountainous province of Lai Chau on November 11.

The leader highlighted Lai Chau's advantages inginseng development and its high economic value, and asked the province topreserve its gene sources and to support farmers in farming techniques.

He underlined the need to provide strongassistance to localities in implementing the ginseng development strategy,asking the Government and the Ministry of Agriculture and Rural Development topay greater attention to preserving the varieties and making a planning for itsdevelopment.

The President pointed to the need to ensure thesustainable development of the industry and high quality of the product, aswell as the application of high technologies in farming and processingactivities.

Ginseng development must go in line with forestprotection, he underscored, asking Lai Chau to support people from ethnicminority groups in ginseng farming, thus helping them get rid of poverty.

The three-day Lai Chau Ginseng Fair aims topopularise the potential and strengths in ginseng development and policies toencourage the investment in the industry, and provide investors withopportunities to cooperate with local farmers in the field.

Ginseng is a typical herb of Lai Chau, found at aheight of 1,400-2,200m above the sea level.

Initial research results show that Lai Chauginseng has a very high Saponin content of up to 21.34%. Particularly, it has7.78% of Majonoside - R2(MR2), an anticancer active ingredient, along withanticoagulant substance silphioside E.

Lai Chau ginseng has received a plant varietiesprotection certificate by the Ministry of Agriculture and Rural Development.

Currently, Lai Chau has 38,000 hectares of areasuitable for ginseng farming. The province has developed more than 100 hectaresof ginseng farms in Muong Te, Sin Ho, Phong Tho, and Tam Duong districts.

At the event, President Phuc presented ginsengseedlings to local farmers. Minister of Agriculture and Rural Development LeMinh Hoan handed over the Plant Variety Protection Certificate for Lai ChauGinseng to Lai Chau province, while Minister of Science and Technology HuynhThanh Dat gave the province a decision to accept a valid Lai Chau GinsengCertification Trademark./.
VNA
#President Nguyen Xuan Phuc #Lai Chau Ginseng Fair 2022 #ginseng #Vietnam #Vietnam news #Vietnam News Agency
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