Agricultural sector aims for higher targets in 2017

Overcoming challenges from extreme weather and market volatility, the agricultural sector ended 2016 on a positive note when output rose by 1.44%.

Illustrative image. Photo: HUU CHI

It is noteworthy that amid difficulties faced in export markets, the export value of agricultural products did not fall but however climbed by US$1.7 billion to approximately US$32.1 billion thanks to a timely shift to goods that there is still room for growth.

The accelerated growth of the sector in the second half of 2016 had a significant contribution of such goods as seafood, and fruit and vegetables in particular. In 2015 fruit and vegetable exports reached only US$1.9 billion, lower than rice, but soared to US$2.4 billion in 2016, far surpassing the US$1.9 billion revenue recorded by rice exports.

But despite such positive figures, it is easy to see that Vietnam’s agriculture still faces many problems. In general Vietnam’s agriculture remains small in scale, largely based on households with 13.8 million smallholders cultivating on 78 million parches of land. Therefore, agricultural restructuring aligned with building new rural areas is an urgent task to foster production, improve income and ensure social security for the rural regions which account for 70% of Vietnam’s land area and 46% of population.

2017 is seen to be a key year in the implementation of the national socio-economic development plan and the agricultural development plan for the 2016-2021 period amid anticipated challenges. Nevertheless, the sector still targets a GDP growth of 2.5-2.8% and export revenues of US$32-32.5 billion. In order to achieve these targets and beyond, the agricultural sector will place a major focus on key products, particularly those with export values reaching US$1 billion and higher.

(Source: NDO)