Farming expects sales of $40b

Jan 12th at 09:56
12-01-2016 09:56:56+07:00

Farming expects sales of $40b

The agricultural and rural development sector expects to gain US$39-40 billion in total farming, forestry and fishery products by 2020, according to officials.

 

Also, experts anticipate a growth rate of 3 per cent in the sector's gross domestic product (GDP) by 2020, according to the Ministry of Agriculture and Rural Development (MARD).

Minister of Agriculture and Rural Development Cao Duc Phat said that the sector aims for an export turnover of $31 billion and a GDP growth rate at 3-3.5 per cent this year.

To gain its target this year and beyond, the domestic agricultural sector will focus on restructuring itself and improving its value and efficiency of production, he said.

In addition, the sector will put more investment into the processing industry, especially deep-processing and post-harvest preservation, to reduce losses after harvesting and increase the added value of farming products.

Also, the ministry will continue improving the efficiency of the quality of management for agricultural material, food hygiene and safety, to create favourable conditions for export and consumption of farm production. It will also improve controls on quality, food hygiene and safety for farming, forestry and fishery products for export.

According to the ministry, the cumulative export turnover in agro-forestry-fisheries products reached $140.6 billion, from 2011 to 2015, with an average annual growth rate of 9 per cent.

Compared to 2010, the export turnover of these products rose 54.6 per cent to $30.14 billion in 2015.

Ten exports listed in the ‘$1 billion club' were rice, coffee, rubber, tra fish, shrimp, cashew nuts, pepper, vegetables, cassava and woodwork.

In the reviewed period, the sector's GDP growth rate reached 3.13 per cent, surpassing the 2.6 to 3 per cent target set by the 11th National Party Congress, Phat said.

bizhub



NEWS SAME CATEGORY

US leading trade partner of Dong Nai

The United States was the leading trade partner of southern Dong Nai Province in 2015, Deputy Director of the provincial Industry and Trade Duong Minh Dung said.

Nghe An sees investment of $6.6b

The central province of Nghe An attracted a positive investment flow totaling VND150 trillion (more than US$6.6 billion) during the 2010-15 period.

Foreign firms hungry for agri projects

Foreign investors’ appetite for Vietnam’s agricultural sector is growing, with a string of new or expanded projects scheduled to come on line soon.

Vegetable processing plant opens in Hai Duong

Hung Viet Limited Company inaugurated its new vegetable processing plant, worth VNÐ66 billion (US$2.9 million), in northern Hai Duong province on January 10.

Thua Thien-Hue targets higher economic growth in 2016

The central province of Thua Thien-Hue is aiming for a 9% growth in gross domestic product (GDP) and an average GDP per capita at US$2,100 in 2016.

Vietnam firms fret over decline in Russian tourists as companies denied licenses

Local travel firms have been on tenterhooks over a gloomy outlook and a possible slump in Russian arrivals after three major Russian tour organizers have not had...

City eyes software park expansion

HCM City is waiting for approval from the Government to expand a chain of software parks including into other provinces following the success of its Quang Trung...

Sime Darby sets up Vietnamese subsidiary

Malaysian Sime Darby Bhd, seller of 30 different brands of vehicles across Asia established a unit on Dec. 31, 2015, in Viet Nam to retail cars and spares.

Dong Nai wood exports increase 17%

Wood exports in the southern province of Dong Nai totaled $1.2 billion in 2015, up 17 per cent from 2014, according to the provincial Statistics Office.

Farmer makes 400 grapefruits featuring Vietnam’s sovereignty over islands

Vo Trung Thanh really knows how to take advantage of his job as a grapefruit farmer to show his love for the country.


MOST READ


Back To Top