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How to find reliable partner in Vietnam
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FreeBy-products from agriculture, forestry, and fisheries are a significant resource, and utilizing them can promote sustainable agriculture and environmental protection. However, inconsistent policies, low technology, and weak market infrastructure hinder progress. On the other hand, these challenges also create opportunities for innovation and investment. As policies encourage a circular economy in agriculture, foreign companies specializing in environmental treatment, green technology, and circular business models have opportunities to collaborate with local partners through technology transfer and investment.
Government Support for the Circular Economy
Decision 540/QĐ-TTg (2024) “Science and Technology Development Plan to Promote the Circular Economy in Agriculture Towards 2030” positions the recycling and reuse of agricultural by- products (including those from livestock, forestry, and fisheries) as a strategic priority and outlines three strategies for circular agriculture: (1) Advancing research and application of applicable technologies in production processes, (2) Technology transfer, and (3) Development of outlet markets. Foreign investors can explore opportunities to utilize technology in line with the priority solutions outlined in the decision. Operational models include technology transfer, equipment provision, consulting, and partnerships with domestic manufacturers and suppliers. Entry into this sector requires a strategic and informed approach, considering fragmented market conditions, regulatory complexities, and differences in suitable technologies across regions and business segments. Understanding the varying needs, regional differences, and potential partners specific to each subsector is key to identifying viable entry points.
Potential of Agricultural Byproducts
Agricultural byproducts are secondary materials generated during the production processes of agriculture, forestry, and fisheries. While not directly used as primary products, they are recyclable or reusable. Vietnam is a major agricultural nation in Southeast Asia, producing vast quantities of agricultural byproducts annually. In 2022, approximately 159 million tons of agricultural byproducts were generated, with 57% originating from crop production and 39% from livestock production10
