Vietnam - Agricultural sector calls for more investment

(VOV) - The agricultural sector needs to devise appropriate policies to increase its competitiveness and attract more investment as Vietnam is integrating more deeply into the world, says Deputy Prime Minister Hoang Trung Hai.

Working with the Ministry of Agriculture and Rural Development (MARD) in Hanoi on October 29, Mr Hai asked the sector to develop plans of action to cope with climate change which is negatively impacting agricultural production and rural development.

He said the sector also faces other challenges, including epidemics, low productivity, poor infrastructure and low incomes for farmers, which must be overcome to ensure sustainable development.

The Deputy PM said that MARD should examine its list of priority projects that need investment and call for capital from other economic sectors. He also suggested that aquaculture projects follow the public-private partnership (PPP) model to attract more investment capital.

He pointed to the fact that investment in agriculture remains low, accounting for only 6-7 percent of social investment sources. Therefore, projects in the 2011-2015 period should be selected and oriented to attract capital from other sources.

Delegates proposed raising agro-forestry-fishery exports in 2012 to US$28 billion, US$3 billion more than the 2011 target, and prioritising capital for dyke and dam reinforcement projects.

MARD Minister Cao Duc Phat reported that in 2012 the sector has set targets to achieve a growth rate of 2.3-2.6 percent, exporting 6.5-7 million tonnes of rice, earning US$24 billion from exports and raising the national forest coverage to 40.5 percent.

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