Promoting Advantages of Aquatic Processing Industry

 

The province continued to reap positive results in industrial and trade development in the first months of 2015. The total industrial and handicraft production value reached VND2,370.16 billion in the first six months, up 14.4 percent over the same period in 2014, of which the State-run sector reported an year-over-year growth of 6.8 percent, the non-State sector enjoyed a growth of 17.8 percent, and the foreign-led sector saw an increase of 9 percent. Most industries and industrial products expanded from a year earlier. Specifically, export processed seafood output rose 9.1 percent, commercial electricity output increased 8.39 percent, and salt production climbed 22.57 percent. Total exports slid 19.05 percent year on year to US$189.08 million. Export seafood volume totalled 15,794.42 tonnes, down 10.56 percent year on year and export rice volume reached 11,512 tonnes, down 43.32 percent year over year. Falling export and import value was attributed to poor rice export. USD volatility also significantly affected exports.

 

To tap its processing advantages, the Department of Industry and Trade has coordinated closely with relevant agencies to carry out production and business support mechanisms and policies for key products, thus helping improve export growth of the province. The province has focused on supporting technological and equipment renovation for seafood processing industries as well as for farmers. Bac Lieu has facilitated enterprises to invest in modern machines and equipment to improve product quality and sharpen competitive edge. The province has strengthened trade promotion by taking part in exhibitions and trade fairs to introduce key products to the market and help businesses seek and expand markets.

 

When the province was established, it had only several small-scale seafood processors which mainly processed and exported frozen seafood. Seafood export value averaged US$40 million a year. Currently, Bac Lieu has 21 relatively large scale export seafood processors with modern technologies and equipment. Frozen processed shrimps are exported to demanding markets like the United States, Japan, the European Union and South Korea. While developing processing industries, the province pays special attention to developing material sources with stably high quality for export processing and improving export quality. The province has also seen rapid progress in processing industries and seafood export, averaging above 20 percent a year. With regard to rice export, the province has also invested in science and technology to develop high-quality clean fuels and built export rice processing facilities with a combined processing capacity of 200,000 tonnes. Modern technologies and equipment ensure the high quality of exports.

 

Mr Tran Danh Tuyen, Deputy Director of the Department of Industry and Trade of Bac Lieu, said the province will speed up the development of aquatic and agricultural processing industries to serve domestic and export markets. By 2020, all export processing facilities will have modern equipment and technologies to turn out products of high added value and high quality for domestic and foreign markets. The province will also boost exports and develop domestic trade and effective reform administrative procedures. In 2015, the province’s industrial and handicraft production value is expected to rise 14.5 percent year on year to VND7,649 billion, while export value is forecast to climb 7.94 percent US$519 million. Of the sum, exports will reach US$470 million, up 7.79 percent year on year, and domestic trade revenue will rise 9.4 percent to US$49 million. Total retail revenue will reach VND42 trillion, up 23.06 percent year on year. 98 percent of households will have access to electricity, an increase of 0.51 percent over 2014.