Agricultural equipment technology attracts many businesses and investors

When the EU Free Trade Agreement (EVFTA) has just been approved, in addition to removing trade barriers on import and export, it is forecast that Vietnam will attract more investors from European countries, helping to transfer technology, and how to organize production in the agricultural sector.

Promote the comprehensive restructuring of the agricultural sector

The Covid-19 pandemic is considered a test for Vietnam's agriculture when it opens up many opportunities and challenges. China is a traditional market as well as the largest consumption market of our country for agricultural, forestry and aquatic products, so when China closes its border, exports to this market are congested, causing many farmers and businesses. Vietnamese business standing. The dependence on a market too much makes agricultural products suffer when there are many bad developments in the market. That is why the Covid-19 epidemic occurred is also the time when we review and propose many radical solutions, comprehensively restructure the agriculture.

The exhibition opens up trade opportunities for domestic and foreign businesses

On the other hand, when EVFTA is approved, it will contribute to diversifying the market, helping our country not too dependent on any one market, thereby ensuring the sustainable agricultural economy. According to research by the Ministry of Planning and Investment, the EVFTA Agreement will help Vietnam's export turnover to the EU increase by about 20% by 2020; 42.7% in 2025 and 44.37% in 2030 compared with no Agreement. At the same time, imports from the EU also increase but at a lower rate than exports, namely about 15.28% by 2020; 33.06% in 2025 and 36.7% in 2030.

In recent years, despite being subject to high import tax, many agricultural, forestry and fishery products of Vietnam have also penetrated the European market through domestic trade promotion activities. For example, the International Exhibition of Agricultural - Forestry - Fisheries Equipment & Technology (Vietnam Growtech), many domestic enterprises have had the opportunity to approach, joint ventures with countries in the EU to help expand the pepper market. consumption. Specifically, at Vietnam Growtech 2019, there were 625 trade meetings, creating more than 750 signed commercial contracts, contributing to boosting the economic development in agriculture.

And when EVFTA comes into effect, export opportunities to this market will be further strengthened. Besides, EVFTA will increase the wave of investment from the EU into Vietnam. The EU is known as an area with modern agriculture, so when there is a shift in investment, Vietnam will bring high quality products along with the best skills and experience in techniques. leading technology in the world.

Improve competitiveness with high technology

The opportunities that EVFTA brings to Vietnam is huge, but Vietnam also faces many difficulties and challenges when exporting agricultural products to the EU market.

Currently, the demand for goods originating from the EU is increasing. When trade barriers are removed, products from Europe will easily penetrate the market, causing Vietnamese businesses to suffer great pressure. On the other hand, Vietnamese enterprises need to pay attention to product quality, rules of origin, food safety and hygiene, and labor environment regulations when exporting to the EU is also a big challenge for Vietnam. .

Advanced machines and equipment were introduced at the Vietnam Growtech 2019 exhibition

To meet those strict requirements, our country needs to focus on the development of science - technology in production to be consistent with the industrial revolution 4.0; increase competitiveness when participating in global supply chains.

In addition, businesses also need to actively seek cooperation with different markets to attract direct investment in our country. Through international exhibitions in Vietnam, many businesses have taken advantage of the capital and technology transfer from large corporations.

The Vietnam Growtech exhibition is a typical example. The event is considered the most comprehensive in the agricultural equipment industry in Vietnam, a reliable place for research activities, trade, technology access from manufacturers, domestic patent research and International exchange, market research, partners, joint ventures, associates, and investments, in order to contribute to the further development of the agricultural technology and equipment market, bring more value to Vietnam's agricultural sector.

In a period of strong economic changes, Vietnam Growtech 2020 is a good opportunity for Vietnamese enterprises to participate more deeply in the regional and global supply chains.

Register to participate in the exhibition in here:

• https://www.growtech.vn/visitors/visitor-registration
• For imformation about exhibition, please connect https://www.facebook.com/growtech.vn/

Việt Trinh