In a blog post on the World Economic Forum, Cao Duc Phat, Minister of Agriculture for Vietnam, outlines his countries Green Growth Strategy.

“As an emerging economy with a strong agricultural heritage [Vietnam] aims to transform food production by 2020 to mitigate poverty, adapt to climate change and enhance economic growth and development,” he writes.

The country needs to better manage its land, water and soil through “conservation agriculture, integrated pest management, agroforestry and sustainable diets”.

Vietnam has set ambitious targets of 20% reduction in greenhouse gas emissions and poverty by 2020 as well as a 20% increase in growth. But these come with a US$3.5 billion price tag and private investment is going to be needed. The World Economic Forum and Government of Vietnam hosted a workshop involving international and domestic banks, agricultural companies and donor agencies to further investigate how the funds may be raised to achieve ‘climate-smart agriculture’ in Vietnam.

The ideas that emerged from the workshop will be further developed in the coming year. “It is hoped that this innovative multistakeholder effort will serve as a model for other countries and help the world to accelerate a global transformation towards sustainable agricultural growth,” Cao Duc Phat said.

Read the full story: Vietnam sets out green strategy for agriculture