Việt Nam has put digital and green transformation as strategic choices, the Minister of Information and Communications Nguyễn Mạnh Hùng said at the opening of the Việt Nam - Asia Digital Transformation (DX) Summit 2024 on Tuesday.

The 2024 summit, opened in Hà Nội, is an annual event organised by the Việt Nam Software and IT Services Association (VINASA) under the sponsorship of the Ministry of Information and Communications (MIC).

Speaking at the opening of the summit, the minister cited that the green economy contributed about 2 per cent of Việt Nam's GDP with a growth rate of over 10 per cent in 2020. The country's digital economy also contributed 12 per cent of GDP in the year.

However, the digital economy, according to MIC calculations, contributed 16.5 per cent of GDP and with a growth rate of over 20 per cent last year.

Specifically the two fields of digital transformation and green transition have growth rates at least twice or up to four times higher than the country's GDP growth rate.

Also at the forum, the minister emphasised that digital and green transformation would be the two most important transformations of the early 21st century.

"These two transformations will fundamentally change the lives of all of us. Digital and green transformation are twins, they go together and support each other. If we want a rapid development, you must do digital transformation and if we want a sustainable development, we must also do green transition. So these two transformations will ensure a fast and sustainable development for the country," he said.

Minister Hùng also said: "We will focus on developing the digital economy with four pillars: information technology and communications industry, digital economy development in all sectors, digital management and digital data," he said.

Trương Gia Bình, chairman of the Founding Council of VINASA, said that the country was witnessing a remarkable increase in the demand for digital transformation in Việt Nam and Asia.

"The whole world is entering a period of intelligent development with two trends: digital and green transformation, which are both a driving force, an opportunity, but also a huge challenge. To exploit the potential of digital - green transformation, creating dual development in both digital and green economy, Việt Nam needs to pioneer in developing the fields of artificial intelligence, semiconductor chips, and smart electric vehicles. It is necessary to focus human and financial resources on the technology fields in this area," said Bình.

He cited the World Bank's 2023 report on the dual transformation trend and pointed out that Việt Nam held 15 per cent of the total 493 green patents in emerging markets, only behind Malaysia (51 per cent) and Thailand (20 per cent).

Meanwhile, in terms of digital transformation technologies, the country accounts for 8 per cent of the total 537 patents of developing economies, behind Malaysia (58 per cent), Philippines (16 per cent) and Thailand (11 per cent).

In addition to seven seminar and conference sessions, the Việt Nam - Asia DX Summit 2024 will host exhibitions showing off digital transformation solutions from technology businesses, and offer trade connections between domestic and international businesses.

The two-day forum has attracted the participation of more than 2,000 delegates who are leaders and experts from 17 economies in the region and 35 provinces and cities across the country. 

Rice export management needs to achieve dual goals

Ensuring food security should be the top priority for rice exporters, along with promoting sustainable rice production and making good use of export outlets which Việt Nam has signed free trade agreements (FTAs) with, the Ministry of Industry and Trade (MoIT) has said. 

The MoIT said it is about to complete a legal corridor for rice exports, creating a transparent, fair and favourable environment for domestic rice traders and exporters. 

It continues to implement trade promotion activities to advertise the Vietnamese-branded rice products and take full advantage of the FTAs to seek new export markets and improve competitiveness for Việt Nam's rice industry.

It would also direct Vietnamese Trade Offices abroad and Trade Promotion Department to support rice exporters in establishing direct distribution channels and deploying activities to promote Vietnamese rice products, especially high-quality ones to penetrate demanding and niche markets.

At the same time, the ministry would ask the Vietnam Food Association (VFA) and rice exporters to improve their capacity to negotiate, sign and implement export contracts, update the rice market information and provide enterprises with timely support in handling problems. 

Over the past four months, Việt Nam exported 3.23 million tonnes of rice, worth US$2.1 billion, up 12 per cent in volume and 37 per cent in value, statistics from the General Department of Customs revealed. 

The surge in value was attributed to a 22.2 per cent rise in exported rice, priced at US$644 per tonne since the beginning of this year.

Among the major export markets in the period were the Philippines, Indonesia and Malaysia. 

With positive results recorded so far, Việt Nam could exceed its target of 7.6 million tonnes in rice export volume set for 2024, according to the Vietnam Food Association. 

Lê Thanh Hòa, deputy director of the MARD’s Department of Quality, Processing and Market Development, said due to the El Nino phenomenon and the impact of climate change, the global rice output in the 2023-24 crop was forecast to drop to nearly 518 million tonnes, while the consumption demand was 525 million tonnes, which means the world would face a shortage of about seven million tonnes of the grain this year.

This was a good opportunity for rice exporters, including Việt Nam, Hòa said during a conference in the Mekong Delta city of Cần Thơ in April.

He added that the country could supply 8.13 million tonnes to the world this year and still ensure domestic food security.

However, he said that Việt Nam would still face many challenges in rice exports this year, including the dependence on certain traditional markets.

Deputy Minister of Industry and Trade Phan Thị Thắng stressed the need to foster coordination between businesses and rice farmers to ensure the stable supply and quality of rice, affirming the trademark of Vietnamese rice in the world market.

The official at the event also underlined the need for the active negotiation and signing of agreements on plant quarantine and technical regulations on paddy and rice quality to create favourable conditions for Vietnamese rice exporting enterprises.

Airlines rush to offer discounts, open new routes

Airlines in Vietnam are providing more flights and attractive discounts to meet increasing summer demand.

Budget airline VietJet Air has announced an additional 1.40 million tickets for summer domestic flights, concentrating on tourist destinations such as Hanoi, HCM City, Danang, Nha Trang, Quy Nhon, Phu Quoc and Da Lat.

VietJet Air has increased its routes from Hanoi, HCM City, Danang, and Nha Trang to different localities by 46 percent, to around 3,100 flights.

VietJet has also offered zero tickets on many routes, excluding taxes and fees.

National flag carrier Vietnam Airlines has offered some 300,000 cheap tickets during the upcoming summer peak season between May 15 and September 6. A one-way ticket is priced from VND1,098,000 (USD43) for economy class and VND1,905,000 for business class. The prices include taxes and fees and are sold on early-morning or late-night flights.

Vietnam Airlines will use Boeing 787 aircraft for the Hanoi-Singapore route, which will have a frequency of seven weekly flights.

Vietnam Airlines have also opened more domestic and international flights. From June 4, the national flag carrier will increase flights linking Da Nang and Da Lat to three per week. The airline will also resume its direct air route linking Hanoi to Chengdu, China, with four weekly flights.

Vietnam Airlines are offering a promotional programme with attractive round-trip prices from only VND5.63 million (USD221.2 USD), applicable for departures from Hanoi to Chengdu.

VietJet will launch flights to link Phu Quoc, Taichung, and Kaohsiung in Chinese Taipei from next month.

On May 12, VietJet opened direct flights from Hanoi to Hiroshima, Japan.

Local-level project selection aided through study

Provincial-level authorised agencies will more easily carry out the task of reviewing and processing project selection thanks to criteria for approval or evaluating foreign-invested initiatives.

The Institute of International Investment Studies Co., Ltd (ISC) last week launched the research results on criteria for appraising foreign-invested projects and assessing their quality and effectiveness after over six months of work. The research was financed by the Australian Department of Foreign Affairs and Trade to support localities.

The criteria for appraisal of foreign-invested projects to approve licences combines 10 appraisal criteria, including eight project screening criteria and two to consider incentives. They will offer requirements relating to the profile and legal status of investors, national defence and security, environmental protection, and financial capacity of investors, among others.

Meanwhile, the criteria for monitoring and evaluating the quality and effectiveness of foreign-invested projects in localities combine 36 criteria, divided into seven groups, including economic efficiency, social efficiency, environmental protection, technology, and management, among others.

According to the research team, there is now a lack of mechanisms to select foreign-invested projects for industrial zones. Those that apply for issuance of registration certificates are not subject to appraisal or approval of investment policies. As a result, the system can overlook projects with outdated technology or which create a negative impact on the environment.

This is especially so in the context that many localities have not yet issued regulations on land use efficiency and labour use efficiency as a basis for project selection.

The research team also shows that the assignment of tasks to provincial authorities in statistics and management of investment implementation of foreign-invested projects is not clear, and most localities do not know the exact capital made in the area by project as well as by industry or field. The handling of cases where projects are implemented behind schedule remains confusing.

These criteria are expected to remove the bottleneck for foreign-invested enterprises, even those with long-term investment in Vietnam. In one example, Fujita Co., Ltd. is a Japanese construction company with established branches in Hanoi and Ho Chi Minh City since 1992. In addition to construction work, Fujita also engages in real estate, and is currently conducting a large-scale development project called WFC in the northern port city of Haiphong.

“During our project, we were proceeding with the concept of delivering Japanese quality to Vietnam. However, there were many differences in laws and also ways of thinking about buildings, so we had to consult relevant authorities one by one as we proceeded with our project,” said Ueda Takafumi, general director of Fujita Vietnam.

“Not only were we required to have various approvals, but the procedures leading to approval were also unclear, and there was no detailed request or guidance from the relevant authorities. There were some parts which we were able to complete on our own, but for certain procedures, we had to hire consultants like other foreign companies,” Takafumi said. “We believe that the results of this study will be very useful for companies considering approval of projects. If this type of research is continued in the future, Vietnam will become even more attractive as an investment destination.”

The company started its development plan in 2018 and invested in a hotel and serviced apartment, which opened in 2020. It currently has plans to build another condominium project this year.

Cosimo Thawley, Minister Counsellor and representative of the Australian Treasury, said that having criteria to support foreign investment attraction is vital.

“In Australia, we apply criteria that ensures that all the risks are accounted for and managed. This includes national security, competition, economic and community impact, taxation, and other government policies such as environmental policies. These criteria allow us to have a rigorous framework, but one that is flexible enough to account for a range of different sectors or investment proposals,” he said.

Applying criteria cannot diminish competition and cannot lead to a detrimental impact on taxation, Thawley added. “That doesn’t necessarily mean we will reject the foreign investment proposal. It may just mean that we impose conditions on the investment such that they address that risk,” he said.

Long-term product value vital for gaming industry

Vietnam’s gaming industry faces significant challenges that necessitate comprehensive regulatory support and international collaboration to realise its billion-dollar aspirations.
Zhen Fang, head of International at US online game platform Roblox, praised Vietnam as a “rising star” for user-generated content games at a gaming conference last week.

“Beyond having a promising young user base that is both creative and open-minded, Vietnam also has the infrastructure ready to test cutting-edge technologies. Regulatory bodies provide policy support, collaboration opportunities, and infrastructure expansion,” she emphasised. “Vietnam is the most promising market in the region in terms of readiness, adaptability, and untapped potential.”

Along similar lines, Zuy Nguyen, international market development advisor of Games & Applications Southeast Asia at Google Asia-Pacific, said Vietnam boasts a young community of game developers who are fearless and eager to experiment with new ideas.

“Local programmers are particularly known for their entrepreneurial spirit, creativity, and ability to develop unique products. Games like Axie Infinity, which generated billions in revenue, are prime examples. Companies such as Amanotes, Topebox, and OneSoft each have their unique strengths, continuously innovating to remain competitive in the global market,” Nguyen said.

However, according to La Xuan Thang, director of Online Game Publishing at VNG, despite its vast potential and untapped opportunities, Vietnam’s online gaming industry has not yet met expectations, especially when compared to the population size and telecom infrastructure development of some neighbouring countries.

“Vietnamese games tend to have relatively short lifespans and do not yet meet global standards,” he stated. “Revenue remains modest, and the industry faces several issues, including societal prejudices, unfair competition, rampant piracy, and a declining number of gaming companies.”

Nevertheless, Thang also cited that the after-tax profit margins for Vietnamese gaming companies currently stand at only 3-5 per cent of revenue. Notably, Vietnamese firms account for just 22 per cent of the mobile gaming market’s revenue, with the remainder going to companies not headquartered in Vietnam. Overall, the country’s gaming industry revenue represents less than 0.5 per cent of the global total.

Discussing the potential for Vietnam’s gaming industry to integrate into the global value chain, Thang stressed the necessity of visionary leadership.

“Revenue isn’t everything. The long-term value of the products we create is what truly matters. Like other gaming companies, we are always eager to find great ideas and good products to serve users. Our short-term goal is to make money, but our greater aspiration is to gain global recognition,” he stated.

From a regulatory perspective, Le Quang Tu Do, director of the Broadcasting Authority at the Ministry of Information and Communications (MIC), highlighted the industry’s need for a solid foundation to realise its billion-dollar dream within the next five years.

“In the past year, the MIC and the Gaming Alliance have convinced the government to view gaming as a nurturing industry deserving of development incentives. Currently, the government has not only exempted the gaming industry from special consumption tax but also tasked the MIC with developing a strategy to provide further tax incentives,” Do explained.

Fostering connections with international businesses and investors is deemed vital. Policymakers have persuaded global partners such as Google, Meta, and Roblox to participate in events like Vietnam GameVerse, showcasing the potential and growth of Vietnam’s market.

“Last year, we dreamed of Vietnam’s gaming industry reaching a billion dollars. This year, we need to accelerate to turn that dream into reality,” Do of the MIC noted.

Phan Duc Trung, vice chairman of the Vietnam Blockchain Association, also believed in the importance of training in game programming, graphic design, and emerging technologies.

“Collaboration between businesses, universities, and research institutes is essential to create attractive working conditions that will attract and retain talent,” Trung said.

“Moreover, companies should also invest in research and development to enhance product quality and incorporate cutting-edge technologies such as VR, AR, and blockchain. Effective marketing strategies, leveraging social media, and pursuing international collaborations are key to expanding the market,” Trung said.

Expressway proposed to connect Nha Trang and Dalat

A plan has been proposed to construct an expressway linking Nha Trang and Dalat cities, aiming to reduce the travel time between these two major tourist destinations to around two hours, according to local media reports.

The government of Khanh Hoa Province said on May 28 that it had asked the Department of Transport to review a proposal from Son Hai Group regarding the investment in the Nha Trang-Dalat Expressway.

The proposed expressway would be developed through a public-private partnership (PPP) or build-operate-transfer (BOT) format. It is expected to span nearly 81 kilometers, feature four lanes, and have a design speed of 80-100 kilometers per hour. The construction is projected to take place from 2024 to 2028.

The expressway would start at the intersection with the North-South Expressway in Dien Khanh District, Khanh Hoa Province, and end at the Darahoa intersection in Ward 12, Dalat City, Lam Dong Province.

The total investment cost of the project is estimated at over VND25 trillion, with VND17.54 trillion from the State budget and VND7.5 trillion from the investor.

Once operational, the Nha Trang-Dalat Expressway would cut the travel time between Nha Trang and Dalat to 1.5-2 hours from the current 3.5-4 hours.

The expressway is anticipated to boost tourism development across the region and facilitate the transportation of goods from the Central Highlands to the South Central Coast seaports.

Currently, National Highway 27C is the only route linking Nha Trang in Khanh Hoa to Dalat. This highway features the winding and treacherous 29-kilometer-long Khanh Le Pass, which frequently experiences landslides during the rainy season.

Amended land law might take effect from August

The amended Land Law, Housing Law, and Real Estate Business Law would come into force on August 1 this year, five months earlier than the originally approved date of January 1, 2025, if the National Assembly (NA) approves it at its current seventh sitting.

The Government issued a resolution on May 27, approving a proposal to amend and supplement certain provisions of these laws, as well as the Law on Credit Institutions.

According to the resolution, the Minister of Justice will be delegated authority from the Prime Minister to sign the Government’s proposal asking the NA Standing Committee to review and submit the proposed amendments for consideration and passage during the ongoing NA sitting.

This means the effective date of the laws may be postponed by an additional month, instead of July as previously proposed in Resolution 72 on May 17.

However, these laws will still come into effect five months earlier than the original date of January 1, 2025, as passed by the National Assembly in the previous sitting.

Cashless payments surge by over 57 percent in first four months of 2024

Deputy Head Le Anh Dung of the State Bank of Vietnam’s Payment Department said that cashless payment transactions increased by 57.11 percent in volume and 39.49 percent in value.

He made the statement at a press conference held by Tuoi Tre Newspaper in coordination with the State Bank of Vietnam (SBV) yesterday afternoon to announce a series of events for Cashless Day 2024 in Ho Chi Minh City.

At the press conference, Mr. Le Anh Dung said that by the end of 2023, Vietnam had over 182 million individual payment accounts and 87.08 percent of adults owned a payment account. There were more than 147 million bank cards in circulation and 32.77 million e-wallets were active in the country.

In comparison of the first four months of 2024 and the same period in 2023, the figures showed that cashless payment indicators have experienced significant growth. Cashless payment transactions increased by 57.11 percent in volume and 39.49 percent in value. Cashless payment on the Internet increased by 47.48 percent in volume and 30.2 percent in value while cashless payment through the mobile phone channel increased by 59.26 percent in volume and 35.91 percent in value. ATM transactions continued to decrease by 14.15 percent in volume and 7.84 percent in value compared to the same period in 2023.

The growth of payment transactions through the Internet and Mobile channels averaged 52 percent and 103.3 percent respectively during the period 2021-2023. Moreover, growth in the number and value of payments through QR codes reached over 170 percent. Regarding account opening through electronic means (eKYC), 40 banks reported that they had officially implemented nearly 35 million eKYC payment accounts in operation.

Upon network security and safety for payment activities, the SBV has regularly issued directives to banks about strengthening the security and safety of payment activities, including requiring credit institutions and payment intermediaries to review internal processes and regulations. The SBV also noted that opening e-wallet payment accounts by eKYC for customers using chip-based citizen ID cards has been given priority with a focus on increasing risk management and performance of 100 percent post-audit on eKYC-opened accounts/e-wallets.

Last but not least, the SBV has coordinated with the Ministry of Public Security to inspect the security of information systems and the opening and use of payment accounts at many credit institutions and payment intermediaries. The SBV also regularly directs commercial banks in the sector to do a good job of communication to raise awareness of information security and prevent fraud and payment fraud for all bank staff and customers.

Le Thuy Sen, Head of the SBV's Communication Department, emphasized the importance of financial education communication because this aims to raise public awareness of banking products and services while limiting risks for consumers using financial products and services and pushing back black credit.

Key economic indicators show positive growth pace in May

Industrial production continued positive growth with the index of industrial production in May expanding 3.9 percent against previous month and 8.9 percent against the same period last year, the General Statistics Office reported Wednesday.

In the first five months, the index of industrial production was estimated to increase by 6.8 percent compared to that of the same period last year.

Total disbursed volume of State investment capital was estimated at VND190.6 trillion, equal to 26.6 percent of this year's plan and up 5 percent compared to the same period last year.

Foreign investment inflows increased by 2 percent to nearly US$11.07 billion from January 1 to May 20 while disbursement rose 7.8 percent to US$8.25 billion.

Outbound investment decreased by 57 percent to US$136.1 million, according to the General Statistics Office.

Export value in May was estimated at US$32.81 billion, an increase of 5.7 percent against the previous month and 15.8 percent year on year. In January-May period, export turnover was estimated at US$156.77 billion, up 15.2 percent year on year.

Import value in May was estimated at US$33.81 billion, up 12.8 percent compared to that of April and 29.9 percent year on year. In the first five months, export turnover was estimated at US$148.76 billion, up 18.2 percent against the same period last year.

The U.S. was the largest importer of Vietnamese goods with US$44 billion while China was the biggest exporter to Viet Nam with US$54.9 billion.

Consumer price index in the first five months increased by 4.03 percent compared to that of the same last year.

Foreign arrivals to Viet Nam soared by 51 percent to nearly 1.4 million in May and by 64.9 percent to nearly 7.6 million in January-May period./.

Viet Nam, Cambodia, Thailand launch cross-border QR code payment

Viet Nam has completed cross-border payment connections via QR codes with Thailand, Cambodia, and is connecting with Laos, noted Governor of the State Bank of Viet Nam Nguyen Thi Hong.

Viet Nam is planning to expand cross-border QR code payment with countries inside and outside the ASEAN region, highlighted Nguyen.

QR codes are used to pay by over 62 percent of Vietnamese. On average, they scan the code 16.2 times per month, which is higher than card usage (around 12-13 times per month), a survey conducted by Visa revealed.

According to a recent Visa study on consumer payment behavior in 2023, the average time Vietnamese people go without spending cash is 11 consecutive days per month, almost four times as long as in 2022.

In 2023, Viet Nam led Southeast Asia in the transition to cashless payments, with 88 percent of people having used this method before.

To date, more than 87 percent of adults have payment accounts at banks and many banks have over 95 percent of transactions processed on digital channels. The average growth in the number of payment transactions via mobile devices and QR code from 2017 to 2023 reached over 100 percent per year./.

First batch of 2024 crop lychee reaches Paris

Two tonnes of fresh Vietnamese lychees, meeting GlobalGAP standards, arrived at Charles de Gaulle airport in Paris on May 28, marking the first shipment of this year's crop.

The airlifted batch was from Thanh Ha district in the northern province of Hai Duong. Upon reaching supermarket shelves, the fruit attracted significant customer interest, with many eager to taste and purchase them.

Do Thi Quynh Phuong, a representative of ACEM – the importing company, said it plans to import roughly 10 tonnes of fresh lychees this year to meet the anticipated high demand.

Vu Anh Son, Counselor of the Vietnam Trade Office in France, highlighted ongoing efforts to assist Vietnamese firms in entering the French market. The office is collaborating with partners to develop a long-term programme and strengthen connections within the Vietnamese business community in France. This network will be leveraged to help Vietnamese exporters access the French and wider European markets.

To enable Vietnamese farm produce to penetrate and maintain a firm foothold in a demanding market like the European Union, Son stressed that businesses need to improve cultivation practices and harvesting and preservation technologies to ensure the highest quality of fresh fruits.

The most important is to intensify product introduction and promotion initiatives, helping Vietnamese goods reach more local consumers, he highlighted./.

Vietnamese food, beverage products introduced at Thai trade fair

More than 160 Vietnamese enterprises are showcasing high-quality and standard-compliant products at the THAIFEX – Anuga Asia 2024 in Thailand, which is expected to draw over 80,000 visitors from 140 countries worldwide.

The largest and most comprehensive food and beverage trade fair in Asia is taking place at the Impact Arena, Exhibition, and Convention Centre in Muang Thong Thani from May 28 – June 1.

Themed “Beyond Food Experience,” this year's trade fair sees the participation of over 3,000 businesses from more than 50 countries around the world, which are showcasing their products in 6,000 booths across 11 specialised sectors, including premium food, frozen food, fruits & vegetables, meat, rice, seafood, confectionery, beverages, coffee & tea, food technology and services.

According to Le Huu Phuc, head of the Vietnam Trade Office in Thailand, the agency made early preparations for the participation in the trade fair by assisting Vietnamese businesses in finding partners and buyers, as well as building business networks.

The office has also collaborated with other trade agencies abroad to introduce Vietnamese food and beverage products to foreign companies interested in the fair, he said.

According to Phuc, the trade fair focuses on innovation, ranging from networking to labeling, packaging, and trends in functional, halal, and vegetarian foods, which are the key trends that will significantly impact the food industry in the future.

The fair provides a good chance for Vietnamese businesses to seize opportunities to innovate their products, thus meeting market demands.

As an organisation that has been facilitating businesses’ participation in trade fairs abroad for many years, the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) under the municipal People's Committee supports 32 local businesses to join THAIFEX, its director Tran Phu Lu said./.

Some Vietnamese products imported from Thailand up by more than 600%

According to preliminary statistics released by the General Department of Customs, imports of animal feed and raw materials to the country in April soared by 34.8% on-year to reach US$498.82 million.

Overall, the past four months have seen imports of this product group near US$1.69 billion, marking an increase of 9.8% compared to last year’s corresponding period.

The US represents the largest Vietnamese import market for animal feed and raw materials throughout the reviewed period, accounting for 25.2% of the total import turnover of this product group, reaching nearly US$425.39 million. This represents an increase of 81. 9% compared to the first four months of 2023.

The Argentine market came in second place, accounting for 23%, with US$388.32 million, down 2% over the same period from last year.

Brazil was the third largest import market in April, with imports continuing to fall by 7.9% compared to March and 53.3% compared to April of last year.

Among major markets, the country is continuously importing this item from Thailand. Specifically, in April the nation suddenly bolstered imports to US$50.93 million, an increase of 210% compared to the previous month and a sharp increase of 622% compared to April last year.

The Thai market makes up 5.1% of total Vietnamese imports of animal feed and raw materials.

According to calculations, the demand for animal feed for the domestic livestock industry will continue to increase moving forward. Currently, Vietnam needs about 30 million tonnes of animal feed each year, by 2025 and 2030 it will be 35 million and 45 million tonnes, respectively.

From 2016 onwards, imported animal feed has always constituted about 70% of demand, corresponding to 19 million to 20 million tonnes, domestic production accounted for about 30% equivalent to between 10 million to 11 million tonnes per year.

According to the Ministry of Agriculture and Rural Development, these are raw materials that the nation does not have the strength to produce domestically as it cannot compete with the US, Brazil, and Argentina in terms of area, productivity, and efficiency. Cultivation results are not as high as rice production.

Source: VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes