Ms. Nguyen Minh Hang – Assistant Minister, Director General of Economic General Department, Ministry of Foreign Affairs of Vietnam.

Trends of economic development in the world

According to Ms. Nguyen Minh Hang, there are 4 economic development trends in the world in the context of the pandemic. First, the world economy will continue to recover under the conditions of adaptation to Covid-19 and the new normal. The second is the trend of green growth, sustainable and inclusive development. This is the period when countries promote commitments and strongly implement green growth, such as the US imposing a carbon tax on emissions-producing imports from some countries, the EU requesting a 40% reduction in emissions until 2030… The third is the application of science and technology to develop digital transformation. Fourth – the emerging trend is the development of a circular economy, prioritizing sustainable development.

“In the trends affecting all areas of life, the strong development of science and technology and non-traditional security challenges such as climate, covid-19 … have made a profound turning point for with the world economy. In which, digital transformation is considered as a dominant trend, affecting many other industries,” emphasized Ms. Minh Hang.

The direction of the pandemic and 4 major models applied in the world

In the context of the pandemic, Ms. Minh Hang shared, currently, most assessments believe that Covid-19 will last for a long time and be difficult to assess, possibly even becoming a seasonal flu. From the recent Covid-19 response models, it can be seen that four major models are applied in the world. It’s the Covid-19-free model; the model of going from closure to living with Covid-19; flexible combination model of distance – blockade – distance – blockade; herd immunity model. Currently, the world is at the stage of adaptation, living with the pandemic under the new normal.

“With that trend, we believe that the agriculture industry will be greatly affected, facing many challenges and opportunities, helping to develop more breakthroughs,” said Ms. Hang.

Outlook for the agricultural industry and the global market for agricultural products

Through the research, Ms. Minh Hang pointed out 6 directions of the future agriculture industry. Firstly, the prices of agricultural products and foodstuffs in the coming time will be unstable due to many reasons such as the pandemic, different countries’ policies, supply disruptions, and unstable prices.

Second, the supply will be highly unsustainable. Looking back at the history of pandemics, from the oil crisis to the global financial crisis, food supply is a very vulnerable factor, especially in the impact of epidemics and climate change.

Third, consumption trends have changed, such as nutritional awareness, tangible products that converge many factors. Next is the urgency of developing green agriculture, responding to climate change

Fifth is digital transformation in agriculture. Due to the impact of science and technology, digital transformation will be implemented in all stages from production, distribution, circulation, consumption, payment, transaction… Finally, the Agriculture industry will apply it in the near future. circular economy – Agriculture is one of the 10 sectors with great opportunities for investment, shifting to the circular economy.

Proposal for successful digital transformation

From global trends to the impact on the agriculture sector, the Assistant Secretary of State offers four recommendations that determine whether the digital transformation of agriculture is successful.

The first recommendation is about thinking and awareness, it is necessary to continue to promote propaganda, awareness and thinking to apply digital transformation in agriculture, promote training and retraining of skills, especially technical skills. number.

The second is policy-related issues, continuing to improve the circular economy policy in Vietnam, operating orientations in building global e-commerce, issuing a decree on non-cash payment, The roadmap to allow electronic payments…

The third is the measures to be implemented. Continue to promote the implementation of digital transformation in agriculture, form a network on innovation in agriculture, participate in the creation of forums, promote production commitments, and attract investment in infrastructure. new high-tech countryside, environmentally friendly technology. Finally, promote international cooperation, expand agricultural cooperation with partners and international organizations.

At the end of the speech, Ms. Nguyen Minh Hang emphasized that, with the role of the diplomatic service and the motto of serving the country’s development, the Ministry of Foreign Affairs will continue to promote its role of supporting the orientation to create breakthroughs; take advantage of external resources, especially digital transformation in agriculture, to promote the development of the agricultural sector, to recover and develop the country’s economy.

Source: vnexpress.net