Farming exports predicted to reach US$30 billion in 2014

Phat said at a conference in Hanoi on October 15 that the target is most likely to be achieved given that exports during the first nine months through September hit US$22.7 billion, up 11.4% from a year earlier.

He urged agriculture agencies to work closely with enterprises on quality control so that Vietnamese produce can meet standards of major export markets.

Minister Phat said enterprises in the agricultural sector played an important role in ensuring food security and providing materials for agricultural exports but noted that there remained challenges in encouraging the private sector to invest in agriculture.

According to official statistics, private agricultural enterprises only contribute 12% to Vietnam's total economic output.

As of December 31, 2013, 3,517 agricultural and seafood enterprises had been established, accounting for meerly 1.6% of total newly established companies,most of which are small and medium-sized.

In 2013, there were an additional 1,020 enterprises in the sector but more than 1,300 enterprises were forced to close or halt operations.

With such a grim outlook, Minister Phat called on agriculture agencies to identify and resolve difficulties relating to mechanisms and policies to help agricultural enterprises operate in a more efficient way and promote sustainable development in agriculture.

(Source: Nhandan Online)