HANOI, Dec. 14 (Xinhua) -- Vietnam set a target of having 34 billion U.S. dollars of foreign investment in agriculture by 2030, local newspaper Vietnam News reported on Wednesday.
The Southeast Asian country is introducing measures to achieve the target, including strengthening collaboration with large corporations and having better understanding of potential investors' needs, according to the newspaper.
For an agriculture-based country like Vietnam, the amount of foreign investment in the sector has been modest, the newspaper said, citing Ta Thu Trang from the Institute for Policy and Strategy under the Ministry of Agriculture and Rural Development (MARD).
During 2009-2021, foreign investors registered nearly 2,000 projects worth more than 17.6 billion U.S. dollars, equivalent to only 5.7 percent of all projects and 4.3 percent of total investment in Vietnam, respectively, said Trang.
There is an urgent need to increase collaboration with large corporations across all industries in the sectors, especially in technology transfer, said Nguyen Anh Phong, head of MARD's information center.
Duong Danh Cong from Agrotrade Vietnam under MARD said there should be a task force specializing in finding foreign agriculture investors, who must have a deep understanding of the potential investors' needs and local communities' strengths. ■