Private economic sector in agricultural development in Vietnam: Current situation and solution

Abstract

After more than 30 years of implementation of Doi Moi (renewal) policy, Vietnam’s agriculture-rural area has gained many significant achievements. According to the General Statistics Office, in 2018, Vietnam’s GDP increased by 7.08%, the highest jump over the past 10 years. In that overall growth of the whole economy, the agriculture, forestry and fishery sector grew by 3.76% and contributed 8.7% to the overall figure. Despite facing many difficulties from the market, the export of agriculture, forestry and fishery products still managed to thrive and made an important contribution of US $ 244.72 billion to the total export. Apart from the effort of the political system, the agricultural business sector has played a crucial role in achieving these great results. Enterprises are the core actors for bringing vietnamese agricultural products to the global market. However, the results have not commensurated with the potentials and expectations; the number of enterprises investing in agriculture has been limited; farmers have still had many difficulties.