Agriculture plays an extremely important role in Viet Nam’s national economy. Agriculture makes up 15% of the country’s GDP and provides employment to over 40% of Viet Nam’s labor force – a majority of which live rurally. Additionally, agriculture assures national food security and contributes to the poverty alleviation of the country.
Viet Nam curves like a letter “S” along the eastern part of the Indochinese peninsula. China is at its northern border, Laos and Cambodia to the west, and maritime borders with the East Sea and Pacific Ocean are at Viet Nam’s south and east. The country’s total length from north to south is 1,650 kilometers. Its width, stretching from east to west, is 600 kilometers at the widest point in the north, 400 kilometers in the south, and 50 kilometers at the narrowest point, in the central region. The coastline is 3,260 kilometers long and the inland border is 4,510 kilometers. As Viet Nam is located in both a tropical and temperate zone, its climate is characterised by strong monsoon influences, which includes a considerable amount of sun, a high rate of rainfall, and high humidity.
Where does Viet Nam do business?
Today, the agri-products of Viet Nam have access to the markets of over 160 countries across the globe. Viet Nam is expanding its traditional agricultural markets – which includes Northern America, Europe, Northeast Asia and Australia – to facilitate the markets of South America, Africa and West Asia. Viet Nam’s export turnover of agri-products have averaged US$30-32 billion for the last decade. 2017 was an exceptional year, with turnover reaching US$36.37 billion, alongside a US$8.55 billion trade surplus.
Viet Nam is committed international economic integration, through opening up its national economy and its membership of important multilateral and bilateral free trade agreements through ASEAN with China, Japan and Korea, and the Comprehensive and Progressive Trans-Pacific Partnership. Viet Nam is also an active member of the Cairns Group.
Increasing competition with trading partners puts positive pressure on domestic producers and businesses to improve their application of science and technology. This attracts more investment in developing Viet Nam’s value chains, and towards increasing food quality, safety and productivity for demanding markets. In Viet Nam, innovative techniques and technical regulations like Viet GAP, ISO and HACCP have been applied across a wide variety of sectors, including seedling production, animal husbandry, fishery farming and processing. Increasing harmonization of Viet Nam’s national standards with international standards (like OIE, CODEX, IPPC) on food safety, plant and animal quarantine is becoming more and more frequent.
The Ministry of Agriculture and Rural Development of Viet Nam is implementing the Agriculture Restructure Program, which aims to add value to and improve the country’s responses to sustainable development and climate change.
Viet Nam warmly welcomes investment from countries all over the world.