Vietnam plans to modernize agriculture industry – hopes to increase market share in Sweden

Vietnam plans to modernize and transform agriculture into a sustainable economy by 2030 and Sweden is amongst the countries where Vietnam hopes to increase market share, Farmweek writes.

Vietnam’s ambitious plan involves emphasizing the production of high-quality products, adding value to meet market demands and improving rural infrastructure, and increasing the living standards of farmers.

According to Vietnam’s Minister of agriculture and rural development Le Minh Hoan, the Southeast Asian country’s agriculture sector aims for a growth target of 2.5-3.0 percent per year until 2030 with agricultural productivity at 5.5 percent. Vietnam is aiming at increasing value between five and six percent annually and exploring potential new markets for its produce.

Commenting on the matter, Diep Van Ty, chairman of the Vietnamese trade association in Sweden, said that the biggest earners from the EU-Vietnam Free Trade Agreement (EVFTA) are food and foodstuff and data from the Vietnamese Trade Office in Sweden shows that besides Norway and the USA, Vietnam is among the exporters of rice.

Diep Van Ty is chairman of the Sweden-based food importer East Asian Food AB and their brands are currently the most popular exports in Sweden.

Amongst the challenges that need to be overcome are high shipping prices and disruption to supply, he said while adding that Sweden also needs to be convinced of trying new products from Vietnam because they are used to food imports from countries such as Thailand. 

To reduce costs and be able to supply products to Sweden, the Vietnamese trade association plans to construct a major logistics center in Malmo.

 

About Gregers Møller

Editor-in-Chief • ScandAsia Publishing Co., Ltd. • Bangkok, Thailand

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