VIETNAM TARGETS 5,000 NEW AGRICULTURAL BUSINESSES BY 2031

Farmers in the Mekong Delta at work - PHOTO: TRUNG CHANH

HCMC – Vietnam aims to support the establishment of at least 5,000 agricultural enterprises during the 2026-2031 period as part of efforts to build a digital agriculture sector and more sustainable value chains.

The target was announced at the ninth National Congress of the Vietnam Farmers’ Union, which opened in Hanoi on June 8.

The initiative is seen as a key step in shifting from traditional agricultural production toward a broader agricultural economy that is more closely linked to market demand and value-added activities.

Under the theme “Solidarity-Democracy-Breakthrough-Cooperation-Development,” the congress adopted 11 key targets for the 2026-2031 term, focusing on fostering entrepreneurship and wealth creation among farmers through modern private-sector and cooperative business models.

To achieve these goals, the union has adopted a development approach centered on “cooperatives, production linkages, processing, and markets,” while promoting a model of “green rural livelihoods, digital agriculture, and brand building.”

In addition to the target of establishing 5,000 agricultural enterprises, the union plans to support the creation of 5,000 cooperative groups and 1,000 agricultural cooperatives during the period.

The ninth National Congress of the Vietnam Farmers’ Union opened in Hanoi on June 8 – PHOTO: VNA

The organization also aims to help at least 4,500 cooperative groups and 1,500 cooperatives adopt certified food safety and quality standards. Of these, at least 300 cooperatives are expected to join safe food supply chains.

The union further pledged that all agricultural and food products under the One Commune One Product (OCOP) Program that receive its support will have traceability systems in place, helping improve product value and market credibility.

Promoting agricultural enterprises and collective economic models is viewed as a strategic measure to strengthen the competitiveness of Vietnamese agricultural products. The Vietnam Farmers’ Union emphasized that farmers should remain at the center of rural economic development while shifting its programs toward more practical and measurable outcomes.

To support farmers in achieving these objectives, the union plans to increase the Farmers’ Support Fund by an average of at least 10% annually and maintain entrusted lending outstanding through banks at VND200 trillion.

The organization also aims to equip at least 70% of its members with digital knowledge and skills, supporting the agricultural sector’s ongoing digital transformation.

Source: The Saigon Times