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Vietnam: Striving to double the income of its farmers

Vietnam is accelerating agricultural restructuring to double its farmers' annual income to 66 million Vietnamese dong (over $2,900) in the next five years. On average, a Vietnamese farmer currently has an annual income of 33 million Vietnamese dong (over $1,450), while the average Vietnamese person has an income of roughly 50 million Vietnamese dong ($2,200) Minister of Agriculture and Rural Development Nguyen Xuan Cuong was quoted as saying.

All 63 Vietnamese cities and provinces are speeding up agricultural restructuring, focusing on local products that are in demand abroad and intensifying the use of high technology in cultivation.

Xinhuanet.com reports how Vietnam has identified a group of 10 key farm produces which have either high production and export growths or high export values or both, such as wood, wood-based products, vegetables and fruits. The government has set a target of increasing total agricultural export to $40 billion this year, up from $36.5 billion last year.

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