Agro-forestry-fishery Exports Rise 6% in H1 Amidst Focus on Value Addition

Vietnam's agro-forestry-fishery sector achieved a 6% year-on-year export growth in the first half of the year. This expansion is underpinned by strategic efforts including safeguarding key production areas, enhancing deep processing capabilities, promoting green production, and strengthening climate resilience, positioning Vietnam to further broaden its global market share and achieve sustained export growth. Breakdowns of the six-month export total show agricultural products at $18.59 billion (up 0.2% YoY), aquatic products at $5.7 billion (up 11.4%), forestry products at $9.2 billion (up 4.6%), livestock products at $375.8 million (up 34.6%), and salt at $7.7 million (up 39.8%). The notable increases in aquatic and livestock product exports are particularly significant. To improve export transparency and meet international standards, pilot implementations of traceability systems for major export commodities like durian have yielded positive initial results, marking a crucial step in addressing increasingly stringent international requirements. As a driver of economic growth, Vietnam aims to transition from traditional reliance on low-cost labor and foreign investment to become a high-income country by 2045. The World Bank highlights that higher productivity, innovation, and the strengthening of domestic enterprises capable of generating greater added value will be key to this next phase of development. The focus on semiconductors and investment commitments totaling $20 billion to the Vietnam International Financial Centre (VIFC-HCMC) signal ambitions in technological innovation and establishing a financial hub. Domestically, efforts are also directed towards social welfare and national security. The campaign to search for, recover, and identify the remains of fallen soldiers from the Vietnam War has been intensified, with a mass grave from the 1968 Tet Offensive uncovered in Ho Chi Minh City. Policies are also in place to develop Son La province into a center for ecological agriculture, agro-processing, and tourism, alongside active diplomatic engagements such as strengthening ties with Laos and advancing the Comprehensive Strategic Partnership with Indonesia. Under Vietnam's one-party system, directives from the Party General Secretary and State President often guide provincial development and social issues. The robust performance of agro-forestry-fishery exports contributes to domestic economic stability and improved livelihoods, while managing external factors like global supply chain fluctuations and climate change remains a critical challenge for sustained future growth. Source: VietnamPlus English