Vietnam plans to modernize the agricultural industry – hopes to increase market share in Sweden
Vietnam plans to modernize and transform agriculture into a sustainable economy by 2030 and Sweden is one of the countries where Vietnam hopes to increase market share, Farmweek writes.
Vietnam’s ambitious plan is to emphasize the production of high-quality products, to add value to meet market demands and to improve rural infrastructure and to increase the standard of living of farmers.
According to Vietnam’s Minister of Agriculture and Rural Development Le Minh Hoan, the Southeast Asian country’s agricultural sector aims for a growth target of 2.5-3.0 percent per year by 2030 with an agricultural productivity of 5.5 percent. Vietnam aims to increase the value between five and six percent annually and explore potential new markets for its products.
In a comment on the matter, Diep Van Ty, chairman of the Vietnamese trade association in Sweden, said that the largest income from the free trade agreement between the EU and Vietnam (EVFTA) is Food and food and data from the Vietnamese Trade Office in Sweden show that Vietnam, in addition to Norway and the United States, 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 export product in Sweden.
Among the challenges that must be overcome are high shipping prices and disruptions in supply, he said at the same time as he added that Sweden must also be convinced to try new products from Vietnam because they are used to food imports from countries like Thailand.
To reduce costs and be able to deliver products to Sweden, the Vietnamese industry organization plans to build a large logistics center in Malmö.