(vasep.com.vn) The Institute of Policy and Strategy and Rural Development (IPSARD) in collaboration with the Vietnam Chamber of Commerce and Industry (VCCI) organized the Vietnam Agricultural Outlook Conference 2012 in Hanoi on March 6th-7th with the main content “the role of agriculture in economic growth in the context of economy restructure”
Since 2008, Vietnam experienced a slow economic growth and high inflation due to recession of world economy. Agriculture was considered a effective business with a growth rate of 4 percent and export earnings of US$25 billion (accounting for 22 percent of the country’s total export turnover).
Agriculture was also the only sector enjoying an export surplus of US$9 billion in 2011. The World Economic Forum Annual Meeting 2012 held in Davos, Switzerland in January, praised Vietnam’s agricultural achievements, saying the country has set a typical model of agricultural development for developing countries. Therefore, market analysis and forecasting play a very important role.
The conference also predicted globally agricultural market in 2012, evaluated factors which affected to globally agricultural market in the next ten years as well as draw out strategies for Vietnam agricultural development amid economy reorganization. According to Phung Giang Hai, Deputy Director of IPSARD, the price of products on globally agricultural market has tended to lower since the end of 2011 and it is expected that in 2012, the market is not positive, particularly amid higher supply of key seafood items (salmon, shrimp).
IPSARD predicted that Vietnam shrimp and pangasius price in 2012 will be equal to that of 2011. Cheap products will take advantage because of globally economic instability and consumers’ tightening spending. IPSARD also oriented that Vietnam fishery should renovate to further penetrate in to markets, speed up building brand name of main products with an aim to increase trade officials’ competence (from the state and enterprises), target to supermarket chain, apply food safety and hygiene standards, traceability in order to increase products’ quality and competitiveness.