Vietnam Starts VND57.4T Fishery Development Strategy

Vietnam started its VND57.4-trillion fishery development strategy by 2020 on Oct 14, state media said, citing an official from the Ministry of Agriculture and Rural Development.

 

Deputy minister Vu Van Tam stressed that the strategy, which was ratified by the prime minister last month, is a guideline for making fishery an export industry with a prestigious brand name and high competitiveness in the world market.

 

Under the strategy, the fishery industry will contribute about 30%-35% of the total GDP of agricultural-forestry-fishery products, with an annual growth rate of between 8% and 10% by 2020.

 

The industry will export 6.5 million tons of seafood to earn $8 billion or $9 billion and generate five million jobs by the year.

 

The average income for industry workers will be 300% higher by 2020.

 

Deputy Head of the General Fisheries Office Chu Tien Vinh said that to achieve these goals, the fishery industry will focus on restructuring its production.

 

The sector will concentrate on sea exploration, breeding shrimps in brackish water, and raising tra and basa fish.

 

The sector will attract investment, develop models of economic cooperation and continue to implement trade promotion campaigns to maintain and expand its important traditional markets in EU, Japan, and the U.S., while simultaneously penetrating new markets such as Eastern Europe, the Middle East, China, and the RoK. (Vietnam & World Economy)