Business Daily Media

Men's Weekly

.

Vietnam’s Agriculture: Farmer-centered and Sustainable Transformation

WASHINGTON, D.C., US - Media OutReach - 8 February 2023 - Vietnam's agriculture is transforming from quantity targets towards profit, environment and farmer income targets.

Ahmed Eiweida, Vietnam Sector Leader for Sustainable Development (World Bank).

">
Ahmed Eiweida, Vietnam Sector Leader for Sustainable Development (World Bank).

For decades, Vietnam's agriculture followed the targets of production volume. This growth model has failed to take account of income returns to farmers and all other environmental costs. This leads to a dilemma that when Vietnam's agricultural production and export revenue increased to a certain extent, farmers' incomes decreased over time. The shift to an economic growth model that put farmers at the centre will help reverse this trend, improve farmers' incomes and restore ecosystems and the rural environment.

At COP26, Vietnam pledged that it will reduce net emissions to zero by 2050.

At COP26, the Prime Minister made a commitment that Vietnam will reduce net emissions to zero by 2050 and will reduce emissions by 30 per cent by 2030 compared to 2020's level. At COP27, Vietnam submitted an updated Nationally Determined Contribution (NDC) which sets higher targets. For agriculture, the unconditional NDC target by 2030 increases from 6.8 million tons per NDC 2020 to 12.4 million tons per NDC 2022; the conditional NDC target increases from 32.6 million tons per NDC 2020 to 50.9 million tons per NDC 2022. This translates into financial needs of around US$2.1 billion and US$16.1 billion to meet conditional and unconditional targets, respectively.

Vietnam's agricultural export turnover in 2022 clearly demonstrates its strengths and comparative advantages in the global agricultural supply chain and its important role for the global food security. This result has been accompanied by strong support of international partners and efficient utilization of ODA projects.

Rice farming is the largest source of greenhouse gas emissions in Vietnam's agriculture sector, emitting about 49.6 million tons of CO2e annually. Moving to low-carbon rice production offers the highest potential for Vietnam to reduce GHG emissions, particularly methane.

The Vietnam Sustainable Agriculture Transformation Project (VNSAT), financed by the World Bank, has demonstrated that by adopting improved rice farming methods so-called 1 Must 5 Reduction (1 must: certified seeds; 5 reductions: number of sown seeds, fertilizers, pesticides, watering and post-harvest losses), it will not only help increase yield and net profits for farmers but also significantly reduce GHG emissions. At the time the VNSAT closed in June 2022, the project was able to reduce approximately 1.5 million tons of CO2e annually.

These successful experiences will be upscaled if the government expands further supports to improve infrastructure and large-scale agricultural extension services. If the improved farming methods be replicated in the remaining core rice areas in the Mekong Delta, it might help reduce over 9 million tons of CO2e annually. The implementation of the VNSAT Project in 7 years (from 2015 to 2022) is evaluated as the most successful model project ever in international cooperation in agriculture.

On this basis, the World Bank is supporting Vietnam to access global funds to finance 100 million USD from carbon payments for rice farming in the Mekong Delta and preparing the Low-carbon Agriculture Value Chain Development Project following VNSAT.

With the companionship of international partners, Vietnamese agriculture is gradually transforming its production model to meet green growth, demonstrating an increasingly important role in the international community for sustainable development, emission reduction, climate change adaptation and mitigation.

Mr. Nguyen Do Anh Tuan, Director of the Department of International Cooperation under the Ministry of Agriculture and Rural Development affirmed that "Vietnam is a responsible member of the international community and wishes to develop its agriculture in a responsible, transparent and sustainable manner. We do hope that our international partners will strengthen the cooperation with Vietnam in developing green and sustainable agriculture and achieving global food security".

The issuer is solely responsible for the content of this announcement.

Notes:

According to Mr. Ahmed Eiweida, Vietnam Sector Leader for Sustainable Development (World Bank), the new growth model of Vietnam's agriculture promotes environmental sustainability, restoring ecosystems and puttting farmers, at the heart of the development, which is aligned with global best practices.

In addition, Vietnam has made great progress in agricultural policy reform followed by concrete actions. Government strategies, such as the Strategy for Sustainable Agriculture and Rural Development for the period of 2021-2030 with a Vision to 2050 and the Mekong Delta Regional Master Plan, accurately capture the main aspects of the new growth model of agricultural economy covering both production, income, export, employment, environment, and rural development.

Corresponding to this mindset shift, the World Bank has also adjusted its focus on development assistance towards climate resilience, livelihood diversification, and low-carbon agriculture. The World Bank is also coordinating with FAO and IRRI to assist MARD in developing a standardised Monitoring, Reporting, and Verification (MRV) system for the rice subsector.

News from Asia

Skyborn enters Preferred Supplier Agreement with Fred. Olsen Windcarrier for Gennaker offshore installation vessel

Gennaker's offshore wind turbine transportation and installation will be performed by Fred. Olsen Windcarrier (Fred Olsen). Installation of 63 offshore wind turbines during 2028 i...

Cyberport Leads Nine Start-ups to Join WAIC 2025

Project from the Artificial Intelligence Subsidy Scheme Shortlisted for Top 30 of the SAIL AwardHONG KONG SAR - Media OutReach Newswire - 29 July 2025 - World Artificial Intelligence Conference 20...

Henan Meets SCO: Anyang Receives Acclaim from Media and Think Tank Guests

ANYANG, CHINA - Media OutReach Newswire - 29 July 2025 - From July 23 to 27, the Shanghai Cooperation Organization Media and Think Tank Summit was held in Henan Province. During this event, guests...

SY Holdings Establishes Singapore International Headquarters to Explore Web3.0 Ecosystem and Innovative Applications of Stablecoins

SHENZHEN, CHINA - EQS Newswire - 29 July 2025 - SY Holdings Group Limited ("SY Holdings" or the "Group," stock code: 6069.HK), an "AI + industrial supply chains" digital intelligence technology com...

LANDMARK Invites the Community to 'Find Your Chapter' and Celebrate the Love of Reading This Summer

Rediscover the Joy of Reading This Summer at LANDMARK, Featuring an Engaging Book Stop Pop-Up, Exclusive Promotional Offers, and Curated Literary Experiences for All Ages. HONG KONG SAR - Media Ou...

Seafood Expo Asia Announces Conference Program with Expert-led Sessions on Sustainability, Aquaculture, Fish Processing, Aquafeeds and Consumer Trends in Asian Market

The conference program will begin on the first day of the Expo, which runs from 10-12 September 2025 at the Sands Expo and Convention Centre in Singapore, and continue throughout the three-day even...

Suanova Information, a Yeebo’s Subsidiary, Makes Its Debut at the 2025 WAIC

Securing a Key Role in China's AI Computing Power Sector Driving Industry Innovation and DevelopmentHONG KONG SAR - Media OutReach Newswire - 30 July 2025 - Suanova Information (Shanghai) Limited ...

Storefriendly Introduces New Self-Service Storage System & IoT-Driven Smart Management — Enhanced Facilities to Meet Evolving Customer Needs

HONG KONG SAR - Media OutReach Newswire – 30 July 2025 - Storefriendly Self Storage Group has recently been honored with the prestigious "I&T Award (Hong Kong)" and "ESG Award (Hong Kong)" by ...

Kim Gan Enterprise Commemorates 24 Years in the Automotive and Industrial Supply Sector

SINGAPORE - Media OutReach Newswire - 30 July 2025 - Kim Gan Enterprise Pte. Ltd., an auto parts supplier in Singapore, is celebrating its 24th anniversary this year. Since its founding in 2001, ...

Letright Spotlighted In Nikkei Bizruptors For Revolutionizing Sustainable Luxury In Outdoor Living.

Recognition by Nikkei BizRuptors underscores Letright’s role in redefining eco-conscious luxury in global outdoor livingKUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 30 July 2025 - Letright I...

Small-Business Cash-Flow Playbook 2025

An educational guide to managing ATO debt, real-time super and growth finance in Australia’s new landscape Why ATO debt just became the most expe...

Landowners Offered $30,000 Per Year for Just 1 Hectare: The Rise of 5MW Battery Projects Across Australia

In a pivotal shift reshaping Australia’s renewable energy landscape, landowners in Queensland, New South Wales, and Victoria are being offered up ...

Major national security tech alliance launches with Aerologix a founding member

Australia’s leading drone intelligence pioneer bolsters sovereign tech power Australia’s leading aerial data and drone intelligence platform, Aer...

Chris Hancock AM Honoured as 2025 Communications Ambassador

SYDNEY Chris Hancock AM, former CEO of AARNet, has been awarded the prestigious Communications Ambassador title at the 2025 Telecommunications Indus...

Baby boomers are driving development feasibility leading to larger apartments

As residential developers continue to grapple with feasibility issues on apartment projects, the sector is struggling to deliver volumes of new st...

Hays launches FY25/26 Salary Guide: ‘Salary Paradox’ deepens as pay rises fail Australians

Rising dissatisfaction with pay, progression and perks is fuelling a new wave of career change in FY25/26, as Australians demand more from employe...

Sell by LayBy