Vietnam agri news update - February 2025
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By LAN team Vietnam
MARD’s plan to accelerate circular economy in agriculture
To create unity in the awareness and actions of the entire Ministry of Agriculture and Rural Development in effectively implementing the objectives, tasks, and solutions for the development of science and technology application and transfer to promote a circular economy in agriculture until 2030, as outlined in Decision No. 540/QĐ-TTg dated June 19, 2024, of the Prime Minister.
Source and link to download Decision (in Vietnamese): Decision 540/QĐ-TTg approving CE in agriculture - Viet Nam Circular Economy
Pangasius fetch record price in early 2025
Pangasius exports have experienced strong growth since the beginning of the year, pushing farm-gate prices to their highest levels in three years, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). This significant price increase in early 2025 was primarily driven by a limited supply.
In December 2024, pangasius exports to the European Union totaled nearly $16 million, marking an 18% year-on-year increase. Major EU markets include the Netherlands, Germany, Belgium, and Spain.
Source: Pangasius fetch record price in early 2025
Vietnam extends tax relief programs in 2025
In response to economic challenges, the Vietnamese government has extended and enhanced tax relief programs for 2025, aimed at boosting economic growth. These measures build on the success of tax incentives from 2020-2024, which played a key role in the country’s socio-economic recovery. The government’s initiatives include extending tax cuts, deferrals, and exemptions, particularly a 2% VAT reduction, to stimulate domestic consumption, one of the key drivers of economic growth.
For 2025, the Ministry of Finance will continue to offer fee reductions of 10-50% to encourage the use of online public services and will adjust export-import tariffs to address business challenges. These policies, while placing pressure on the state budget, provide businesses with crucial liquidity and support domestic production.
Experts highlight that these financial measures are essential for boosting competitiveness, especially for small and medium-sized enterprises (SMEs). They allow businesses to invest in technology and improve product quality. The government also proposes maintaining the VAT reduction for certain sectors, which could help strengthen businesses and further stimulate domestic consumption.
Source: Flexible tax policy to propel Việt Nam's economic growth in 2025
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