Page 107 - STRATEGY FOR SUSTAINABLE AGRICULTUR AND RURAL DEVELOPMENT IN THE PERIOD 2021-2030 AND VISION TO 2050

Multi-value integration is combination etc., but also for the values of product origin,
of indigenous resources with advanced packaging, design, product trademark, and
processing technologies and socio- values associated with the locality, area,
cultural identities, forming a trademark for community, creativity, spirituality, culture, and
agricultural products. Thus, consumers not the sharing and support between consumers
only pay for what they eat, drink or wear, and producers.

Box 2: An economist’s value integration experiment

Economist Rob Walker did an experiment where he bought several items that cost
as little as $1 to $4, like an old wooden mallet, a lost hotel room key, a plastic banana,
etc. Walker then put them up for sale on eBay with stories of the product’s origins, and
the results were astounding.
On average, the prices of these items increased by 2,700% or 27 times. The value of
these items was forgotten, and then they suddenly increased in value when accompanied
by a story. Walker experimented five times, and all were correct.

Viet Nam is one of the countries that has a Some basic factors to ensure “multi-value
great advantage of integrating many factors to integration” are (1) product quality must reach
enhance the value of products such as a long the international standards; (2) producers and
history of thousands of years, diverse cultures their communities should be proud of their
and ethnic groups, high community cohesion, products; (3) elements that can create values
famous production areas for instance the for the product must be fully conveyed and
Central Highlands, Mekong River Delta, captured in the product stories; (4) consumers
etc. Therefore, multi-value integration is the are willing to pay more for “multi-value”
solution for Vietnamese agricultural products products; (5) deeply integrated “multi-value”
to overcome the trap of “cheap” products and products with industries and fields, especially
the view of “low-quality agriculture” in the culture and tourism; (6) forming solid brands
market. However, transitioning from “single associated with regions and national brands.
value” to “multi-value integration” is a long-
term process. The starting point is a mind-set
change in evaluating and using competitive
advantages in production and trademark
development for market products.

Guidelines for the Strategy for sustainable agriculture and rural development 107
in the period 2021-2030, and vision to 2050