1) Seafood export continued rising despite difficulties resulting from the world financial crisis and economic downturn. Vietnam exported 1.2 million tons of seafood in 2008, earning US$4.45 billion and marking on year rises of 35 per cent and 20 per cent, respectively.
2) Pangasius exports hit record at 650,000 tons in volume, and US$1.4 billion in value, up 70 per cent and 50 per cent, respectively, against 2007.
3) On June 12, 2008, the Vietnam Association of Seafood Exporters and Producers (VASEP) marked 10th foundation anniversary and received third labor medal for contributions to development of seafood industry.
4) On September 10, 2008, VASEP opened headquarter in District 2, HCM City
5) The Ministry of Agriculture and Rural Development allowed breeding of white-shrimp in several areas of Mekong Delta in order to diversify material for seafood processors and raise Vietnam’s shrimp’s competitiveness.
6) Prime Minister issued Decision No. 289-TTg dated on March 18, 2008 on supporting poor fishermen who were hit by high petrol prices. As of late 2008, nearly VND1.377 trillion was disbursed for 57,772 fishing boats with capacity below 40 CV, 19,274 boats with capacity ranging from 40 to 89 CV, and 17,275 boats with capacity above 90 CV.
7) Inflation rocketed. Many fishermen and seafood processing firms faced capital shortage as banks raised interest rates and tightened credit.
8) Seafood companies cut capacity and laborers as they found hard in selling products in the third and fourth quarter of 2008.
9) Russia, the most potential importer of Vietnamese pangasius, decided to halt importing pangasius from Vietnam from December 20, 2008. The decision made pangasius prices drop in Vietnam and many breeders fell into debt.
10) Severe weather like cold spell in northern region early 2008 and flood in central region late 2008 caused huge loss to fishermen nationwide. (Seafood Trade Magazine January 2008 Edition)
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