Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home  >>   Daily News  >>   Vietnam News  >>   Agriculture  >>   Vietnamese agricultural sector hit hard by inflation
NEWS UPDATES Asean Affairs        29  June 2011

Vietnamese agricultural sector hit hard by inflation

Related Stories

April 8, 2011
Vietnamese tra fish industry must restructure

March 14, 2011
Clean water shortage threatens Vietnam

March 2, 2011
Vietnam faces water crisis

February 17, 2011
Vietnam's climate change strategy

 

February 16, 2011
Support needed to develop Vietnam green power

Former Deputy Prime Minister Vu Khoan said yesterday the people hardest hit by inflation were the poor, most of them farmers.

Khoan suggested the Vietnamese government focus on restructuring the agricultural sector to mitigate the severe impacts of rising costs on the most vulnerable.

He was speaking at a workshop on Macro-economic Instability and Welfare Impact: International Experience and Lessons for Viet Nam held by the World Bank and the Government Office.

"Crisis brings us a lesson that as the number of people living in rural areas still makes up a large part in the country's population, we cannot neglect agricultural production while pursuing industrialisation progress," he said.

"Preventing growth slowdown, curbing inflationary pressure and protecting the poor are among top priorities of governments, especially in developing countries," World Bank Country Director Victoria Kwakwa said.

She said that since the second half of 2010, Viet Nam had experienced high inflation, tensions in foreign-exchange markets, and decreasing reserves.

Among the problems, the high rises in prices for food, fuel and electricity were factors having an adverse impact on the poor.

According to William Martin, agricultural research manager at the World Bank, the poorest people spent often 75 percent of their incomes on food, making them vulnerable to high food prices. And three quarters of poor people worldwide live in rural areas and earned most of their income from farming.

Khoan said that "now, despite increases in food demand and exports which helped Vietnamese farmers, price hikes of input materials such as fertiliser and cattle food were lessening their real incomes".

He said that developing the agricultural sector would help ensure social welfare and food security.

However, the quality and efficiency of agricultural development were still low, therefore, the Government must take drastic measures to restructure the sector.

Currently, farmers made great contributions to the economy, but they enjoyed little of its benefits, therefore it was time to reverse things to encourage them, Khoan said.

Moreover, the government must raise the level of support to farmers and provide the support directly to the production phase rather than intermediate phases, Khoan said.

 


Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below
Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code



 
Today's  Stories    29  June  2011 Subsribe Now !
• Indonesia to create jobs at home Subcribe: Asean Affairs Global Magazine
• Laos moves ahead with Mekong dam Asean Affairs Premium
• New local companies to be listed
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

 
• Philippines revises price index
• Philippines may lower telecom charges
• Stringent capital rules for Singapore banks
• Thais uneasy about rest of year
• Vietnamese agricultural sector hit hard by inflation p

Asean Analysis    29  June  2011

Advertise Your Brand
• Thai election has implications for Asean Sponsor Our Events

Asean Stock Watch    29  June  2011 

 
• Asean Stock Watch-June 29 p

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan

ASEAN  ANALYSIS

This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com