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

AUX Commences Trading on Hong Kong Stock Exchange, Launching New Chapter in Global Growth

HONG KONG SAR - Media OutReach Newswire - 10 September 2025 - AUX Electric Co., Ltd. (Stock Code: 2580.HK), the core air conditioning business of AUX Group, listed on the Hong Kong Stock Exchange ...

BeOne Medicines Honored with the Global Oncology Innovation Leadership Award at BIOHK 2025, Supporting "1+" to Accelerate the Delivery of Innovative Cancer Therapies

HONG KONG SAR - Media OutReach Newswire - 11 September 2025 - BeOne Medicines (BeOne)(NASDAQ: ONC; HKEX: 06160; SSE: 688235), was honored today at BIOHK 2025, the Hong Kong International Biotechno...

Gree Showcases Photovoltaic DC Air Conditioning System at Gree Summit Partner, Positioning Singapore as Green Innovation Hub

SINGAPORE - Media OutReach Newswire - 11 September 2025 - Singapore has long been recognized as a pivotal hub in Gree's Southeast Asia growth strategy. With its advanced infrastructure, strong sus...

TIYA Conference 2025: Over 150 Youth Leaders from 15 Countries Gathered to Advance United Nations’ SDGs

Three-day conference in Singapore empowers young changemakers through mentorship and international collaborationSINGAPORE - Media OutReach Newswire - 11 September 2025 - Tzu-Chi Foundation (Singap...

Finex Collaborates with Sharing Happiness to Honor Indonesian Veterans

JAKARTA, INDONESIA - Media OutReach Newswire - 11 September 2025 - Finex, an acclaimed Indonesian broker, and Sharing Happiness, a charity organization, partnered to honor the members of the Indo...

Momcozy Honored at Kind+Jugend 2025 for Innovation in Maternal Care

COLOGNE, GERMANY - Media OutReach Newswire - 11 September 2025 - Momcozy, a global leader in maternal care and a pioneer of the Mom-First philosophy, announced at Kind+Jugend that its Ergonest M...

Australian representation at CIFTIS reflects deepening cooperation with China: experts

BEIJING, CHINA - Media OutReach Newswire - 11 September 2025 - The 2025 China International Fair for Trade in Services (CIFTIS) reflects the deepening cooperation between China and Australia in se...

Holding High the Banner of Opening-up and Leading Trade in Services, Beijing Is Setting a New Benchmark for Opening up the Chinese Services Sector: Through the Lens of CIFTIS

BEIJING, CHINA - Media OutReach Newswire - 11 September 2025 - On September 10, the 2025 China International Fair for Trade in Services (CIFTIS), themed "Embrace Intelligent Technologies, Empower ...

Chinese services trade fair draws global participation, highlights open markets

BEIJING, CHINA - Media OutReach Newswire - 11 September 2025 - Against the backdrop of repurposed blast furnaces and industrial relics of Shougang Park in western Beijing, the 2025 China Internati...

Services trade fair shows China's continued commitment to opening up, expert says

BEIJING, CHINA - Media OutReach Newswire - 11 September 2025 - The 2025 China International Fair for Trade in Services underscores China's commitment to high-level opening-up, according to one exp...

AWS research shows strong AI adoption momentum in Australia, with startups outpacing large enterprises in innovation

Amazon Web Services (AWS), an Amazon.com company, released new research revealing that while artificial intelligence (AI) adoption continues to acce...

Changing the World One Bite At a Time: IKU Turns 40

One of Australia’s first plant-based, chef-led eateries and now ready meal provider IKU is celebrating its 40 year anniversary with the business e...

Three generations marking 45 years in hot-air balloons

Australia’s leading hot-air balloon company is celebrating 45 years in the sky and its 700,000th passenger, driven by the passion of father-son du...

Workplace DMs, Reinvented: Deputy Messaging, Purpose-Built For Shift-Based Teams

Deputy, the global people platform for shift-based businesses, has launched Deputy Messaging, a fully integrated, real-time communication tool designe...

Revolutionizing Fulfillment: How Virtual Warehousing is Changing the Game?

The e-commerce landscape is evolving more rapidly than ever, and the way businesses are managing their fulfillment is also revolutionizing. At the...

SME lender Dynamoney welcomes new CEO, Brett Thomas

Strengthens growth ambitions and signals expanded offering Dynamoney, a leading commercial finance provider for Australian SMEs,  has today appoint...

Sell by LayBy