17:09 | 02/04/2016 Economy- Society
The Long An provincial People’s Committee launched the World Bank-funded project “Sustainable Agriculture Transformation in Vietnam” (VnSAT) on March 29.
At the launching ceremony (Credit: VNA)
VnSAT is being implemented over five years from 2015-2020 in five Central Highlands provinces – Dak Lak, Dak Nong, Gia Lai, Kon Tum and Lam Dong – and eight Mekong Delta localities – An Giang, Can Tho, Dong Thap, Hau Giang, Kien Giang, Long An, Soc Trang and Tien Giang.
Total funding for the project is US$300 million, with US$230 million sourced from the World Bank and the remaining US$70 million in counterpart and private capital.
VnSAT serves a common goal of contributing to actively implementing the agricultural restructuring plan, renovating sustainable cultivation methods and enhancing the value chain for the rice and coffee sectors in Vietnam’s two big regions of goods manufacturing – the Central Highlands and the Mekong Delta region.
Specifically, the project will support 140,000 Mekong Delta farmers to grow 200,000 hectares of rice based on advanced technologies, aiming to bring a 30% increase in profit and add US$40-60 million to the region’s total value per year. Central Highlands farmers will be assisted to sustainably cultivate about 69,000 hectares of coffee, towards an increase of VND15 million in profit per hectare and an annual supplement of US$48-50 million to the region’s total value.
In Long An, VnSAT will be carried out in Kien Tuong town and the five districts of Tan Hung, Vinh Hung, Moc Hoa and Tan Thanh, at a total cost of over VND289 billion (US$13 million), gathering the participation of 25,000 households with a total rice area of 49,500 hectares./.