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Vietnam Aims to Lead Asia in Biotech

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The Politburo recently released a resolution regarding the advancement and application of biotechnology to support the nation’s sustainable progress. Under the resolution, Vietnam aims to rank among the top ten Asian nations in terms of biotechnology production and services by 2030.

The biotechnology industry is poised to emerge as an important economic and technological sector, with a projected increase in the number of companies by 50% in terms of investment scale and growth rate, while half of the imported biotechnology products are anticipated to be replaced. This sector is expected to contribute 7% of the Gross Domestic Product (GDP).

By 2045, Vietnam wants to have a well-established biotechnology sector and position itself as a leading hub for smart production and services as well as for biotechnology startups and innovation in Asia. This sector is projected to contribute between 10% to 15% to the GDP by that time.

In Vietnam, due to its tropical climate and the country’s economic shift away from agriculture, biotechnology plays a vital role in the industrialisation and modernisation efforts. It contributes significantly to ensuring food security, facilitating economic restructuring, and promoting sustainable development.

Particularly in the realm of environmental protection, biotechnology has introduced several beneficial solutions, encompassing the breakdown of both inorganic and organic pollutants, waste treatment, the processing of industrial waste, and the application of microorganisms to tackle oil spills and incidents of oil contamination.

According to an industry expert, Vietnam can concentrate its efforts on developing various aspects within the biotechnology sector, including in the agricultural sector for crop and animal breeding, the production of veterinary drugs, vaccine development, and the formulation of bio-fertilizers.

In the context of the global shift toward environmental sustainability, Vietnam stands out as one of the pioneering nations dedicated to attaining net-zero emissions by 2050. Consequently, the adoption of biotechnology for environmental protection becomes imperative and highly relevant. However, Vietnam must address challenges associated with securing adequate investment resources, refining its legal framework, and implementing effective policy mechanisms to support research, development, and the application of biotechnology.

The country is actively pushing for sustainability on multiple fronts. Last month, an electronic traceability system was introduced to monitor the origin and carbon footprints of dragon fruit production in Binh Thuan. The technology was inaugurated during the “Digital Transformation Towards Green Agriculture and Sustainable Development” event.

As OpenGov Asia reported, both local and international consumers or importers of dragon fruits from the province can conveniently scan a QR code, enabling them to trace the fruit’s origins and evaluate the degree of “green” or environmentally-friendly practices utilised during its cultivation. In addition to dragon fruit, a digitised carbon traceability system has been effectively applied to shrimp exports, a significant export industry in Vietnam.

The tool is expected to be vital for local producers and enterprises in Vietnam. It empowers them to monitor and control the levels of greenhouse gas (GHG) emissions within the supply chain. It also helps them avoid unnecessary restrictions to export to high-end markets, which are adopting carbon border adjustment mechanisms due to the increasing focus on environmental concerns.

According to a government official, the tool serves as a critical asset for local governments, businesses, producers, and consumers, empowering them to operate within a green economy where adhering to “green” identities and standards has become the prevailing norm. By leveraging technology to promote climate-smart practices among businesses and bolster the resilient livelihoods of local farmers, Vietnam is laying the foundation for a greener, more prosperous future for Vietnam’s agriculture.

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