Page 5 - Cover VNE No53

Summary

38 TRADE

2021 agro-forestry-fishery exports targeted at $45 bln

Impressive year-on-year growth of 28.2 per cent was seen in the
agro-forestry-fishery sector in the first half of this year, to $24.23 2021
billion, with forestry posting the highest rate, of 61.5 per cent, agro-forestry-fishery
followed by key agro-items with 13.3 per cent and fishery with exports targeted at
12.5 per cent. The four largest markets were the US, China, $45 billion
Japan, and the Republic of Korea, with exports to the US esti-
mated at $6.7 billion, for a 59.8 per cent increase year-on-year,
then China with $4.75 billion, up 32.1 per cent. The sector has
set an annual export target of $45 billion, or $3 billion higher
than the government’s target.

40 TRADE

Vietnam eyes pumped

storage hydroelectricity

The Vietnam Energy Association (VEA) has reported that pumped storage hy-
droelectricity has been paid significant attention in recent times. The first project
of this kind in the country is the Bac Ai Pumped Storage Hydroelectricity Power
Plant in south-central Ninh Thuan province, which will be the largest such plant
in Southeast Asia. It consists of four generation units with a total capacity of
1,200 MW and uses water from the Cai River, within the Tan Loi irrigation net-
work. It is expected to come into operation at the end of 2028. According to the
draft Master Plan for National Electricity Development in the 2021-2030 Period
and Vision to 2045, pumped storage hydro-electricity is to generate 1,200 MW
by 2030 and 7,800 MW by 2045.

42 DIGITAL ECONOMY – STARTUPS

Next step for digital currency in Vietnam

The government has assigned the State Bank of Vietnam (SBV) to conduct
a pilot implementation of Central Bank Digital Currency (CBDC) based on
Blockchain in the 2021-2023 period. The CBDC is said to bring about many
benefits and is superior to traditional paper currency thanks to lower publi-
cation, printing, transport, and inventory costs, and also facilitates the fight
against corruption and other ills. A digital currency can also be applied to
smart contracts, opening up smart services that paper currency is unable to
cover. It may, however, come with certain risks. So the potential for the ap-
plication of a digital currency depends on the thinking of relevant agencies
- that is, what choice they are going to make: be cautious about the possible
risks or seek a breakthrough?

www.vneconomy.vn Số 53 Ngày 12/7/2021 KINH TẾ VIỆT NAM 5