Agriculture in Vinh Long province holds promising investment opportunities

Large and diverse agricultural raw material area in Vinh Long province

Agriculture stands as one of the three key pillars in the economy of Vinh Long province, constituting 38.76% of the province's Gross Regional Domestic Product (GRDP) in 2022. With its temperate climate and fertile soil, the province houses approximately 112,000 hectares dedicated to three annual rice crops, yielding nearly 680,000 tons of rice.

According to the Statistics Office of Vinh Long province, the local fruit tree production area encompasses 56,758 hectares as of 2022, producing an average yield of 1.3 million tons. Major economically valuable fruit crops include 17,734 hectares of orange, 8,971 hectares of pomelo, 5,080 hectares of mango, 5,853 hectares of longan, 3,682 hectares of rambutan, and 2,722 hectares of lychee.

Local vegetable production area covers approximately 35,000 hectares, with an average yield of over 690,000 tons. Vinh Long province is nationally renowned for its production of sweet potato, with an annual production area of approximately 10,000 hectares and an average yield of approximately 300,000 tons.

Aquaculture is a breakthrough sector for the province, with an aquaculture area of approximately 2,200 hectares and an annual production and harvesting output (mainly pangasius) of 150,000 tons. Livestock production, including poultry and cattle, has seen significant development over the years, with a total of 11 million poultry, 185,000 pigs, and 81,000 cattle.

Expansive and diverse raw material area positions Vinh Long province as an attractive investment destination. Mr. Ho Van Sau, Director of Dong Xanh High-Tech Agriculture Cooperative, shared that the cooperative has 15 hectares of red-flesh dragon fruit production area, including 10 hectares with a production unit code for export to the Chinese market. According to Mr. Sau, in addition to exporting fresh fruits, the cooperative plans to attract investment for processing and exporting to more challenging markets worldwide.

Vinh Long province also boasts an orange production of over 820,000 tons. Mr. Nguyen Van Liem, Deputy Director of the local Department of Agriculture and Rural Development, reported that the province is investing in projects and scientific technologies to enhance product quality and diversify market outlets. Leveraging its status as a key region in the production of king mandarin (a variety of sweet orange), the province has actively invited businesses to explore investment opportunities in processing products from this type of fruit. Notably, Vinh Long has attracted several high-tech agricultural investment projects in 2022 to improve the quality and value of agricultural products.

Investment-friendly environment

In addition to its expansive raw material area, the investment-friendly policies and environment contribute to an efficient operation and expansion of businesses. Mr. Cao Minh Quoc, Director of Quoc Thao Company Limited in Long Ho District, remarked, "The government has enabled farmers to convert unproductive land into more efficient production areas for new crops and livestock." 

Transitioning from a traditional role of agricultural product procurement, this company has strategically invested and collaborated with local farmers to establish a raw material area. To date, Quoc Thao Company's raw material area spans 160 hectares, focusing on key crops such as pineapples, mangoes, papayas, and guavas.

Additionally, Quoc Thao Company has received local support in Hoa Binh commune, Tra On district, to access standardized land funds for developing a pineapple raw material area, catering to processing and export activities. The company has also connected with 14 local households to expand the production area to 20 hectares. According to calculations, the yield starting from the second year is projected to reach 120 to 160 tons per hectare, with an average selling price of 6 million Vietnamese dong per ton. This initiative is expected to provide an annual income of nearly 240 million Vietnamese dong per hectare for local residents. Mr. Nguyen Huu Thuong emphasized that pineapples are suitable for the locally acidic soil, and with the company's investment, he has confidently converted his family's rice fields to produce this fruit.

The company's investment activities have played a role in restructuring agriculture and addressing employment issues. Namely, Quoc Thao Company has provided regular employment for 90 laborers in the districts of Binh Tan and Tra On, with monthly incomes ranging from 7 to 14 million Vietnamese dong.

Ms. Nguyen Thi Ut from Tan Thanh commune in Binh Tan district, a regular worker for Quoc Thao Company, shared that farmers have faced considerable losses in the production of sweet potato over the past two years, resulting in a reduced work volume. Ms. Ut has been tasked with planting and maintaining plants for over one year, earning 250,000 Vietnamese dong per day and securing a stable source of income.

According to the Vinh Long province's Department of Planning and Investment, the advantages of investing in the province include its strategic location as the central hub of the Mekong Delta, and a bridge between Can Tho city and Ho Chi Minh city. The province boasts well-established infrastructure, with five national highways and three river routes. Notably, the Trung Luong - My Thuan expressway (operational since April 2022), the upcoming My Thuan - Can Tho expressway and the My Thuan 2 Bridge (expected to be operational by the end of 2023) are anticipated to further drive economic and social development in the province. Vinh Long province also enjoys incentives under the investment mechanisms outlined in Resolution No. 97/2018 and Resolution No. 01/2023 issued by the Provincial People's Council.