The annual income of Vietnamese farmers has been targeted to reach VND45 million ($2,020) by 2020 under national criteria for new rural areas in the 2016-2020 period.

While the general annual income is targeted at VND45 million, the minimum for farmers in the northern mountainous region and the north-central region is targeted at VND36 million ($1,616) per year, in the Red River Delta VND50 million ($2,244), in the south-central coastal region and central highlands VND41 million ($1,842), in the southern region VND59 million ($2,648), and in the Mekong Delta VND50 million ($2,244).

Regarding multidimensional poverty, the proportion is expected to be under 6 per cent by 2020. In the northern mountainous region it is to be under 12 per cent, in the Red River Delta under 2 per cent, in the north-central region and south-central coastal region under 5 per cent, in the central highlands under 7 per cent, in the southern region under 1 per cent, and in the Mekong Delta under 4 per cent.

The national criteria for new rural areas in the 2016-2020 period includes 19 criteria: one in planning, eight in socioeconomic infrastructure, four in economics and manufacturing, and six in culture, society and the environment. The criteria are flexible depending on each region and the Ministry of Agriculture and Rural Development will guide other ministries and related agencies is issue relevant guidelines.

The Prime Minister has called for improvements in understanding and responsibility among leaders in local authorities about new rural development programs, which should drive agriculture startups and create new a generation of farmers who are active and innovative.

The Boston Consulting Group (BCG)’s First Sustainable Economic Development Assessment of Vietnam, released in May, acknowledged Vietnam’s progress in converting wealth into well-being, ranking it fourth out of 149 countries assessed.

“With GDP per capita (based on purchasing-power parity) of about $5,200, Vietnam has a well-being level that would be expected of a country with GDP per capita of more than $10,000 - a clear indicator that the country has successfully harnessed limited resources for the good of its citizens,” according to BCG’s Lotus Nation: Sustaining Vietnam’s Impressive Gains in Well-Being report, released in March.

Vietnam matches or exceeds the ASEAN 4 in several indicators, including economic stability and civil society, the report noted. ‘‘In several areas, however, including infrastructure and governance, Vietnam lags behind the group. In addition, although Vietnam’s performance in employment is in line with that of its ASEAN 4 peers, the country faces a number of labor market issues, including a lack of skilled workers and low worker productivity that could impede the next phase of its development.”

VN Economic Times