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

Tenchijin Named Finalist for IVS2025 LAUNCHPAD

Exhibiting at IVS Startup Market to Showcase Advanced Water DX Solutions TOKYO, JAPAN - Media OutReach Newswire - 30 June 2025 - Tenchijin Inc...

ESET and Canon Extends Regional Alliance to Combat Asia’s Security Challenges

SINGAPORE - Media OutReach Newswire - 30 June 2025 – ESET Asia Pte. Ltd. ("ESET"), a global leader in cybersecurity, and Canon Singapore Pte. Ltd. ("Canon") today announced the signing of a Memora...

Counterfeit and Refurbished Transducers Pose Serious Safety Risks

Merz Aesthetics® Hong Kong Launches Ultherapy® Authenticity Verification Reward Program This August Consumers Urged to Verify Ultherapy® Transducers Authenticity for Safe and Effective Treatments H...

Porsche Design Tower Bangkok and Curvistan Bangkok Host an Exclusive Preview of the "Electrifying Past. Present. Future." Exhibition

BANGKOK, THAILAND - Media OutReach Newswire - 28 April 2025 - Porsche Design Tower Bangkok showcased its commitment to innovation by hosting an exclusive evening reception with Curvistan Bangkok, ...

Hong Kong: Bridging Business Opportunities under the Belt and Road Initiative

HONG KONG SAR - Media OutReach Newswire - 30 June 2025 - As a global trade and financial centre and a key link in the Belt and Road Initiative (B&RI), Hong Kong plays a pivotal role in connect...

Octa Black: Octa broker's premium trading experience

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 1 July 2025 - Octa, a globally regulated and trusted broker since 2011, rewards its high-value clients in Indonesia, Malaysia, and Nigeria with a...

Gaw Capital Appoints Nicholas Toh as Managing Director – Head of Data Centre Platform, Asia (Ex-China)

SINGAPORE - Media OutReach Newswire – 1 July 2025 – Gaw Capital Partners, a leading multi-asset investment management firm, is pleased to announce the appointment of Mr. Nicholas Toh as Managin...

Prime Immigration Consultancy Announces Expansion of Service Offerings to Help Clients Achieve the Singapore Dream

SINGAPORE - Media OutReach Newswire - 1 July 2025 - Prime Immigration Consultancy (PIC), a Singapore-based immigration consultancy, has announced an expansion of its services to provide more comp...

ICONSIAM in Collaboration with Shanghai Yuyuan Tourist Mart Group Brings China’s Most Iconic Lantern Festival to Thailand for the First Time

“Yuyuan Lantern Festival 2025” Lights Up Bangkok to Celebrate 50 Years of Thai–Chinese Diplomatic Ties BANGKOK, THAILAND - Media OutReach Newswire - 1 July 2025 - ICONSIAM, the global landmark al...

SIBUR to expand cooperation with clients in Bangladesh

MOSCOW, RUSSIA - Media OutReach Newswire - 1 July 2025 - SIBUR, Russia's largest producer of polymers and synthetic rubbers, sees potential to increase supplies to Bangladesh following the launch ...

Demand for Home Batteries surges as Federal Rebate Kicks In

A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

Why Sport Remains the Safest Bet in an Uncertain World

When Rome was in crisis, its leaders did not retreat to the Senate. They went to the circus. To the chariot races. To the gladiators. Sport was no...

THE FINE LINE WITHIN HILARIOUS SIGNAGE DESIGN FAILS

It seems like design failures still occur in today’s modern branding era, despite rigorous rounds of approvals behind the scenes. One signage show...

Deputy Announces Exclusive Global Partnership with Predelo to Bring AI to Shift-Based Businesses

Deputy, the global people platform for shift-based businesses, has announced an exclusive partnership with Predelo, an AI Decision Agent-as-a-Serv...

Leftover Budget? The Last-Minute EOFY Tip to Drive Business Success in FY25/26

The countdown is on. With just days left until EOFY, now’s the time to make your remaining 2024–2025 budget work harder and smarter. After workin...

pay.com.au appoints new CEO and Managing Director

The former COO will lead the company’s next growth phase, with ex-CEO Edward Alder transitioning into the role of Managing Director AUSTRALIA, 25...

Sell by LayBy