HCM City’s farm production shoots up

The average production value per hectare of agricultural land in Ho Chi Minh City has increased year after year even as the area shrank, according to the municipal Department of Agriculture and Rural Development.
HCM City’s farm production shoots up ảnh 1The application of high technology in orchid plantation has offered farmers higher profits (Photo: VNA)

HCM City (VNA) – The average production value per hectare of agriculturalland in Ho Chi Minh City has increased year after year even as the area shrank,according to the municipal Department of Agriculture and Rural Development.

Last year the value increased by 10.9 percent to450 million VND (19,806 USD) per hectare, among the highest in the country.

This was a result of shifting the farmingstructure towards an urban-oriented model and increasing the use ofsophisticated technologies.

Thus, in some places, unproductive rice andsugarcane growing areas became farms growing bonsai, flowers and vegetables,bringing farmers higher profits.

More than 389ha of lands were converted lastyear, up 385.5 percent, and farmers grow vegetables and fruits in them.

Vegetables bring revenues of 1-1.4 billion VNDper hectare annually; orchids, around 2 billion VND; dairy cows (at a scale of20 head per household), 800 million VND; shrimp, 2.7-3 billion VND per hectare;and ornamental fish, 10-12 billion VND per hectare. These farmers earn 30-40percent profits.

According to the department, vegetables weregrown on a total of 17,270ha, 12.4 percent up from 2016, with the output rising14.3 percent to more than 419,410 tonnes.

The city also had around 2,300ha of land underflowers and ornamental trees, up 7 percent.

There were 142,653 cows, a year-on-year decreaseof 6.6 percent, and 343,300 pigs, a decrease of 4.6 percent, it said.

Aquaculture and seafood output rose by 5.5percent.

The city exported 18.2 million ornamental fishesfor 20 million USD, a year-on-year increase of 21.2 percent, it said.

Agriculture accounted for only 0.8 percent ofthe city’s economy, but it was worth 19.6 trillion VND, comparable to one ofthe country’s larger agricultural provinces.

Its agro-forestry and fisheries sectors expandedat 6.3 percent, 2.2 times the national average.

This year, the farm sector would strive to raiseaverage production per hectare to 500 million VND and grow agro-forestry andfisheries by 6 percent, the department said.

To achieve its targets, it said the city wouldcontinue its agricultural restructuring, especially enhancing the use ofhigh-tech methods including bio-technology to provide safe and qualityproducts.-VNA
VNA

See more

The Vietnamese section of the Monsoon – Thanh My 500kV transmission line project (Photo: VNA)

500kV transmission line from Laos energised

The Monsoon – Thanh My 500kV transmission line project is designed to import electricity from Laos’ Monsoon wind power plant to Vietnam, adding 600 MW to the national power grid during the 2024–2025 period.​

The entrance gate to Hanoi’s Ciputra Urban Area, where banks are selling apartments and villas. (Photo: cafef.vn)

Banks selling mortgaged assets to recover bad debts

The Viet Dragon Securities Company (VDSC) said that bad debts might continue to increase slightly this year, after a circular allowing banks to reschedule debt repayment periods and maintain the debt group for certain sectors expired at the end of 2024.

Vietnamese Ambassador to Argentina Bui Van Nghi (th fourth from the fright) in the meeting with Governor of Brazil's Espirito Santo state Renato Casagrande. (Photo: VNA)

Vietnam seeks to set up cooperation with Brazilian locality

In his meeting with Governor of Brazil's Espirito Santo Renato Casagrande, Ambassador to Argentina Bui Van Nghi Bui Van Nghi valued the potential for cooperation between the two sides, particularly in priority areas such as tourism, information technology, hi-tech agriculture, and seaport.

Remittances to Vietnam in 2024 are estimated at about 16 billion USD, maintaining the record-high levels seen in 2023. (Photo: VNA)

Remittances surge as Tet approaches

According to the State Bank of Vietnam’s Ho Chi Minh City branch, 9.6 billion USD, or 60% of the total remittances, flew through financial institutions, representing a 140 million USD increase from the previous year.

Bank lending in HCM City achieves high growth last year. (Photo courtesy of ABBANK)

Banks' credit up 11.3% in HCM City in 2024

Total outstanding loans of credit institutions in Ho Chi Minh City as of the end of last year were worth over 3.9 quadrillion VND (153.3 billion USD), a 11.3% increase for the year, according to the central bank.

Ho Chi Minh City received nearly 493 million USD in remittances in the first 20 days of this year. (Photo: https://doanhnhansaigon.vn)

Remittances to HCM City surge ahead of Tet

Ho Chi Minh City received nearly 493 million USD in remittances in the first 20 days of this year, according to Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam's HCM City branch.

Illustrative photo (Photo: VNA)

Retail petrol prices down in latest adjustment

The price of E5RON92 bio-fuel was priced at 20,592 VND (0.82 USD) per litre, representing a 158 VND decrease from the previous baseline, while RON95-III decreased to 21,142 VND per litre, down 78 VND.