Vietnam envisions low-carbon agricultural sector

Vietnam envisions to promote a low-carbon agricultural sector with three main pillars consisting of an agricultural ecosystem, modern rural areas, and smart farmers.

Deputy Prime Minister Le Minh Khai at the session. Photos: Tran Manh

Deputy Prime Minister Le Minh Khai gave the remarks at the “Averting a Global Food Crisis” session of the World Economic Forum annual meeting in Davos-Klosters on May 23.

According to Khai, severe consequences from the Covid-19 pandemic and geopolitical tension are causing unprecedented impacts on the global food supply chains.

In this context, Khai called for a comprehensive and multi-purpose approach to ensure a self-reliant, inclusive, and sustainable global food system.

“An urgent matter is to provide humanitarian aid to countries suffering from food shortage, recovering supply chains and preventing food prices from skyrocketing,” Khai said, expecting a green, clean, sustainable, and inclusive agricultural sector in the long-term.

Khai also called for international cooperation and the promotion of multilateralism, in which international organizations should be more active in resolving issues related to global food security.

“Countries should work together to maintain a smooth food supply chain and address trade barriers to food, along with greater financial support for developing countries,” Khai added.

He also referred to Vietnam’s three-party cooperation model with African and American countries that are proving to be effective.

Another priority mentioned by Khai is to ensure a fair and transparent transition process in food production for the benefit of the vulnerable groups while taking advantage of the Industry 4.0 and innovation to foster the development of the agricultural sector.

As Vietnam is pushing for a green and sustainable food sector, Khai called for support from the global community in enhancing climate resilience capabilities for the Mekong Delta region, eventually contributing to national and regional food security.

Delegates at the session, including Tanzania Vice President Philip Isdor Mpango, World Food Program Executive Director David Beasley, and CEO of the Swiss agricultural company Syngenta, J Erik Fyrwald, shared Khai’s view on the significance of maintaining the global supply chains to avoid risks of food crisis.

They agreed to continue promoting public-private partnerships in resolving food shortages around the world, along with the development of an inclusive and sustainable food system.

Overview of the meeting between Deputy PM Khai and executives of multinationals.

On the same day, Khai held meetings with executives of multinationals, including Wonderloop, Horasis, Menzies Aviation, Citibank, HSBC, and dHealth Foundation, to discuss the prospects of green finance for Vietnam.

At the discussions, global corporations and financial institutions highly regarded Vietnam’s resolve in revising the growth model toward green and sustainable development.

They expressed their plans to continue cooperating with Vietnam in green finance, energy transition, innovation, and human resource development.

Phillip Roesler, former German vice-chancellor and President of Consessor AG.

According to Khai, Vietnam remains firm in pursuing green growth, in this regard, attracting green finance is an important solution for sustainable development.

Phillip Roesler, former German vice-chancellor and President of Consessor AG, noted Vietnam is one of the most attractive investment destinations in the region, given the country’s geographical advantage, young population, and high level of economic openness.

Roesler welcomed Vietnam’s strategy for green growth and expressed his commitment to promoting green finance support in the country.

Deputy PM Khai in a meeting with HSBC’s Head of Corporate Banking in South and Southeast Asia Amanda Murphy.

In a meeting with HSBC’s Head of Corporate Banking in South and Southeast Asia Amanda Murphy, Khai highlighted the active contribution of HSBC to the development of Vietnam’s finance-credit sector, noting the country’s priority is to promote a green bond market for sustainable development.

Murphy said HSBC stands ready in accompanying the Vietnamese Government during the green energy transition process and is expected to work with Government agencies on specific steps.

Meeting President of GoTo (Indonesia) Andre Soelistyo, Khai said the group’s technological solutions for transportation and tourism in Vietnam are bringing positive changes.

He called for GoTo to continue expanding investment into services and hi-tech fields, for which the Government is committed to creating favorable conditions for foreign investors.

Soelistyo said the group plans to expand business activities in Vietnam and contribute to the digitalization process in the country.