Market Report of Weather-proofing Agriculture in the Mekong Delta

On 28th May in Ho Chi Minh City, MSIG Vietnam alongside Hillridge, an AusCham member and Australian Department of Foreign Affairs and Trade (DFAT), launched "Weather-proofing Agriculture in the Mekong Delta" which highlights the urgency for innovative solutions to protect the farmers' livelihoods. 

At the executive discussion, Ms. Nguyen Lan Phuong - Deputy General Director of MSIG Vietnam, shared: "At MSIG Vietnam, supporting the Vietnamese agricultural sector and its farmers is a key part of our mission of social contribution. Our partnership with Hillridge and DFAT enables us to provide innovative solutions like parametric insurance to Mekong Delta farmers, offering them much-needed financial security against unpredictable weather events.”

The report also notes the importance of educating farmers on parametric insurance to increase its adoption and trust, noting that many are unaware of its benefits despite some familiarity with traditional insurance.

Parametric insurance can protect up to 40% of the region's entire production. Its considerable future development potential, given the low coverage rates now in place, emphasizes the necessity for greater government assistance in order to reach its full potential. 

We are proud to be part of this initiative under the Business Partnerships Platform, promoting access to climate insurance, particularly for female smallholder farmers and other marginalized groups who are often the most vulnerable to climate impacts.

Together, let's build a more climate-resilient future for Mekong Delta farmers!

Attended from AusCham Vietnam: Mr. Sam Conroy - AusCham President and Mr. Edwin Law - AusCham Executive Director.