Agriculture Cooperation with the US-Vietnam Business Council

On April 9, the General Council of Agriculture and Rural Development of Vietnam held the 2024 Forum on Enterprises Accompanying Farmers and Sustainable Development with the theme "Enterprises for a Green, Sustainable Agriculture Adapting to Climate Change".

Quoting a report from the General Statistics Office, Mr Ho Xuan Hung, the President of the General Council of Agriculture and Rural Development of Vietnam, said that agricultural production in the first quarter of 2024 continued to grow steadily. The total export value of agricultural products in the first three months of 2024 is estimated to reach $ 13.5 billion, an increase of nearly 22% over the same period last year. To achieve this result, enterprises play a very important role in the value chain of the agricultural and rural development sector.

However, according to Mr. Hung, the number of enterprises investing in this area is still quite modest. As of the end of 2023, about 50,000 enterprises were investing in agriculture nationwide, which is a relatively modest number compared to the total of over 900,000 enterprises in operation.

"Is it because the mechanisms and policies to encourage and support enterprises to participate in the agricultural and rural sector are not strong enough; the way to mobilize, call for, and create conditions for enterprises is not good, so it is still not attractive to enterprises", the President of General Council of Agriculture and Rural Development of Vietnam questioned.

At the Forum, many businesses exchanged and shared their advantages and difficulties, thereby proposing and recommending solutions to the Government to join hands in building a green, sustainable agricultural development.

The Forum is also an opportunity for businesses to exchange and learn from each other about organic agricultural production experience, and high technology and create an environment for investment cooperation with American businesses connected by the US-Vietnam Business Council.

At the Forum, the General Council of Agriculture and Rural Development of Vietnam signed a Memorandum of Understanding on comprehensive cooperation with the US-Vietnam Business Council to strengthen the connection between businesses and attract investment in the agricultural sector.

Speaking at the Forum, Mr. Trung Chinh, CEO of the US-Vietnam Business Council, shared that the Council has businesses that want to find Vietnamese partners to transfer technology and strengthen connectivity and trade.

"With the new regulation of the 2023 Cooperative Law allowing foreigners legally residing in Vietnam to participate in cooperatives, we hope to be able to contribute to the development of Vietnamese agriculture through this new regulation," said Mr Trung Chinh.