Agricultural sector aims for US$25 billion in FDI by 2030
VOV.VN - The agricultural sector is set to attract US$25 billion in foreign direct investment (FDI) by 2030, in addition to US$5 billion in loans and US$1 billion in grants.
By the end of 2022, the Ministry of Agriculture and Rural Development approved projects with a total investment of US$840 million.
The Ministry is in the process of co-operating with enterprises to propose 14 projects with a total capital of US$3.2 billion.
This year, the sector will largely focus on green and circular agriculture.
As a means of improving international linkages and integration moving forward, the Ministry has asked agencies to continue to increase the quality of institutional work, especially those relating to foreign trade in a bid to ensure Vietnamese laws and regulations' compliance with international commitments and practices.
Under the terms of the country’s international agricultural co-operation strategy, the sector aims to raise the export turnover of agro-forestry-fisheries products to US$70 billion by 2030.
Vietnam has joined a total of 15 free trade agreements (FTAs) and is in the process of negotiating fresh deals with Israel and Canada.
It has signed FTAs with all of its key agro-forestry-fishery export markets, a factor which helps Vietnamese exporters enjoy a competitive advantage in terms of prices in the global market thanks to a range of tax incentives.
Furthermore, the Ministry will continue strengthening activities in market forecasting, policies, and solutions in relations with international partners.
It will also further co-ordinate alongside agricultural associations and industries to nominate candidates to become involved in trade associations in major Vietnamese import markets.