Vietnam has been hailed as an outstanding example for agricultural development in developing countries at the 42nd World Economic Forum in Davos.

Addressing a session on a new vision in agriculture as part of the Davos forum, Minister of Agriculture and Rural Development Cao Duc Phat presented the operation of the five groups of tea, coffee, vegetables and fruit, seafood and common goods basket and Vietnam’s experience in implementing the five groups.

While Vietnam continues promotion of agricultural development and economic restructuring, the five working groups made every effort to improve product value, to obtain a common goal of raising income for farmers and developing a sustainable environment.

Minister Phat highlighted the main tasks for 2012, including promoting operations of the five goods groups and the newly established rural credit group, adding environmental protection in the direction of green growth into the groups’ activities.

Vietnam will study and apply solutions to expand activities in all goods groups and build policies and mechanisms at regional and national levels.

The Minister called for more participation from businesses in investment, technical consultancy, policy building and creating conditions for farmers to be more involved in production, with efficient support from the State and businesses in agricultural development.

Vietnam officially participated in the “New Vision in Agriculture” initiative in 2010, which aimed to increase agricultural output by 20 percent while reducing the poverty rate and carbon discharge by 20 percent in 10 years.

Source: VNA