IFPRI supports Vietnam in establishing commodity exchange platform

During the meeting, Deputy Minister Hoang Trung expressed profound gratitude for years of collaboration between the two parties. MARD anticipated that 13 institutes comprising One CGIAR (Consortium of International Agricultural Research Centers), including IFPRI, would implement their programs and initiatives in Vietnam with the aim of making a contribution to the overall advancement of Vietnamese agriculture.

Deputy Minister Hoang Trung emphasized that Vietnam's agriculture continues to be a pillar of the economy, having accomplished a number of noteworthy feats and surpassed set targets. In spite of market volatility and the detrimental impacts of the epidemic, Vietnam's agricultural exports continue to generate a positive annual growth rate of 7.7%, with an export turnover of nearly 54 billion USD by 2023.

Vietnam has issued a national action plan on food systems transformation toward transparency, responsibility, and sustainability by 2030, and is implementing the Strategy for Sustainable Agriculture and Rural Development in the 2021-2030 period, with a vision to 2050, according to Deputy Minister Hoang Trung, who was briefing the assembly on the agricultural progress of Vietnam over the previous year. In addition, the government authorized the development of one million hectares of low-emission, high-quality rice in the Mekong Delta region by 2030 through green agriculture.

Vietnam is actively carrying out its COP26 commitments to reduce agricultural greenhouse gas emissions, including methane emissions, through the implementation of plans and programs. Vietnam actively participates in several United Nations initiatives pertaining to the food system, such as the Coalition of Action on Sustainable Productivity Growth for Food Security and Resource Conservation (SPG), the Agriculture Innovation Mission for Climate (AIM for Climate), the Food Innovation Hub, and the 100 Million Farmers Initiative: Transitioning towards net-zero, nature-positive food systems.

"In order to effectively execute these strategies, fulfill international obligations, and undertake the aforementioned efforts, Vietnam requires a substantial collective effort from various stakeholders, including the private sector, businesses, producers, researchers, and international organizations, etc, achieving the proposed objectives by effectively mobilizing comprehensive strength, cooperating to implement projects at various scales," Deputy Minister Hoang Trung explained.

In order to develop collaborative research projects, forecast agricultural commodity markets, agricultural commodity trading floors, agricultural insurance policies, agricultural finance along the value chain, and support the transformation of the food and agricultural system while adapting to climate change, the Deputy Minister suggested that IFPRI conduct research in collaboration with Vietnamese partners.

Furthermore, the Ministry of Agriculture and Rural Development's leadership expresses the hope that IFPRI will provide assistance to Vietnam in various domains, including technology research and transfer, disease control, adaptation to climate change, greenhouse gas emission reduction in agriculture, forestry, and aquaculture, efficient utilization of forest resources, land, and water, capacity enhancement, and communication improvement.

Mr. Johan Frans M. SWINNEN, director general of the International Food Policy Research Institute (IFPRI), extended his congratulations to the Ministry of Agriculture and Rural Development on the endorsement of the "1 million hectares of rice" project, contributing to ensuring food security.

The Director General of IFPRI believes that international research institutes cannot closely align with the practical requirements of nations if they only conduct general policy research without nurturing collaborative relationships.

IFPRI has conducted research in Vietnam for the past two decades, according to Johan, to promote sustainable food supply, climate resilience, healthy eating practices, and community nutrition, as well as to develop markets, trade systems, and agricultural and rural economic transformation...

"IFPRI in Vietnam is striving to intervene to ensure food security through programs on child malnutrition, value chains, and climate change risks," Johan explained.

IFPRI will further provide Vietnam with research assistance in the future to assure food security and achieve climate change mitigation objectives. Aside from that, IFPRI also executes value chain-related detail activities, with an emphasis on agricultural value chain finance. Regarding these matters, the Institute will work in tandem with the Institute of Policy and Strategy for Agriculture and Rural Development (IPSARD).

IFPRI has been providing assistance to Ethiopia in the establishment of a commodity trading platform since 2008. Johan conveyed his eagerness to impart this knowledge and provide assistance to the Ministry of Agriculture and Rural Development regarding this issue.

Following the meeting, Deputy Minister Hoang Trung observed the signing of a Memorandum of Understanding (MoU) between the Institute of Policy and Strategy for Agriculture and Rural Development (IPSARD) and the International Food Policy Research Institute (IFPRI). The two entities shall engage in collaborative efforts pertaining to research, the expansion of knowledge, policy matters, and other critical concerns concerning agricultural development, nutrition, and food security. Innovative solutions to reduce poverty, improve food and nutrition security, mitigate the environmental impacts of agriculture, and utilize agricultural products as international commodities are anticipated to be the outcomes of this partnership.