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Vietnam Today

Agricultural GDP to grow 3% this year

Released at: 14:38, 05/01/2019

Agricultural GDP to grow 3% this year

Photo: tapchitaichinh.vn

Teleconference reviewing agricultural sector's 2018 performance and future outlook held on January 3.

by Long Van

The GDP and production value of the agricultural sector is hoped to expand more than 3 per cent and more than 3.11 per cent, respectively, in 2019, a teleconference on January 3 held to review the sector’s achievements in 2018 heard, according to a report from the Vietnam News Agency.

The sector’s export turnover is set to exceed $43 billion, while at least 50 per cent of communes and 70 district-level units are expected to be recognized as new-style rural areas in the year ahead. Forest coverage is projected to reach 41.85 per cent.

GDP for agriculture, forestry and fisheries grew 3.76 per cent in 2018; the highest for seven years. Production value increased 3.86 per cent, the rate of forest coverage was 41.65 per cent, and the sector’s export turnover was estimated at $40.02 billion.

A total of 3,787 communes nationwide, or 42.4 per cent of the total, were recognized as new-style rural areas, representing a year-on-year rise of 8.02 per cent.

As many as 2,200 agricultural enterprises were newly established last year, up 12.3 per cent against 2017, lifting the total nationwide to 9,235.

At the teleconference, Prime Minister Nguyen Xuan Phuc asked the Ministry of Agriculture and Rural Development (MARD) to accelerate the sector’s restructuring in connection with growth model reform, rural economic development, and new-style rural area building.

He called for more effort in developing markets, supply-demand forecasting, and brand building for Vietnam’s agriculture, forestry and fisheries products.

New-style rural area building should focus on improving the incomes and material conditions of local people, the Prime Minister stressed.

Minister of Agriculture and Rural Development Nguyen Xuan Cuong pointed out the limitations, weaknesses, and challenges that must be overcome in the time ahead.

He underlined the need to speed up the restructuring of the agriculture sector across localities, and swiftly remove the European Commission (EC)’s “yellow card” warning on illegal, unreported, and unregulated (IUU) fishing.

In order to successfully implement the goals and tasks set for it, the agricultural sector aims to build smart agriculture in the direction of promoting international integration and climate change adaptation, as well as increasing the added value of products and sustainable development in connection with building prosperous and civilized new style-rural areas, according to Minister Cuong.

Minister of Industry and Trade Tran Tuan Anh said the sector needs to boost production, improve product quality, open markets, and take advantage of tariff preferences brought about by free trade agreements.

Building brand names based on the quality of products must be considered a leading factor, he stressed, adding that high-tech agricultural development and the reorganization of production must aim to improve product competitiveness.

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