The Ministry of Agriculture and Rural Development has set an export revenue target of US$43 billion for this year, up US$3 billion against last year’s result.

A staff member places avocados on shelves at an agricultural fair 

Speaking at a review conference for the sector on January 3, Minister of Agriculture and Rural Development Nguyen Xuan Cuong noted that the farming industry is expected to earn US$21 billion in export value in 2019, while fishery and forestry fields are expected to generate an export revenue of US$10.5 billion each. The remaining US$1 billion will be earned by other agricultural products.

In addition, Cuong stated that the ministry has set the target for the sector's gross domestic product (GDP) growth rate for this year at 3%.

The above targets were based on the strong performance of the agricultural sector in 2018. In particular, the sector’s production value rose by 3.8% against the 2017 result, of which agro-forestry-fishery industries inched up 2.9%, 6.1% and 6.5%, respectively. Further, its GDP in 2018 grew by 3.7% over the figure seen in 2017, marking a seven-year record high. The sector saw its export turnover amounting to a record US$40 billion in 2018, Cuong added.

To fulfill the targets for 2019, it is necessary to continue restructuring the sector, raising productivity and improving the quality of products, Cuong said, adding that the shift to more appropriate crops suited to each region’s advantages and the demands of the market should be expedited.

He also remarked that it is essential to enhance the consumption of farm produce in both the domestic and international markets by proactively negotiating deals for the expansion of exports, with a focus on traditional import markets.

“It is necessary to boost efficiency in collecting and analyzing information and making predictions about key markets such as the United States, Europe, Japan and China,” Cuong stated.

Prime Minister Nguyen Xuan Phuc noted that the agricultural sector may earn US$42-43 billion or more this year following the US$40-billion result in 2018, adding that new policies and solutions should be taken into account to fulfill the target.

Addressing the conference, a representative of Binh Thuan Province proposed the Government prioritize the improvement of land policies and create favorable conditions for enterprises to accumulate land for large-scale production to as to meet market demand and increase export revenue.

Besides this, Vo Thi Anh Xuan, a representative of An Giang Province, suggested that there should be preferential mechanism policies in place to stimulate investment in the agricultural sector.

SGT