Vietnam Eyes Double Investment In Agriculture To 34 Billion USD By 2030

Hanoi, (UrduPoint / Pakistan Point News - 14th Dec, 2022 ) :Vietnam has set a target to double the amount of foreign investment in agriculture to 34 billion USD by the end of 2030, Vietnam news Agency (VNA) reported. Ta Thu Trang from the Institute for Policy and Strategy under the Ministry of Agriculture and Rural Development (MARD) said the country's agriculture sector had made significant progress in recent decades.

From 2010-20, Vietnam agriculture maintained a 2.83% annual growth rate on average, accounting for as much as 12% of the entire world's rice export.

Foreign investors have played an important role in the country's success to modernise its agriculture sector by introducing advanced technologies and creating thousands of jobs.

However, there was still a lot of untapped potential in the sector.

Trang said during 2009-21, foreign investors only registered under 2,000 projects, just 5.7% of all projects in Vietnam with 17.64 billion USD worth of investment, or 4.3% of total investment.

"For an agriculture-based country such as Vietnam, the amount of foreign investment in the sector has been, at best, modest," she said.