Vietnam Approves Long Term Seafood Exports Strategy

The Vietnam Prime Minister has just approved long term seafood exports strategy for the period through 2010 and orientation until 2020 which focuses on high-valued products rather than raw materials.

 

In its plan, the fisheries sector targets to increase its annual export revenues by 9 per cent on average to around US$4-4.5 billion in 2010.

 

The processing industry is required to catch up with developed economies in terms of technology so as to make fishery a leading sector in the national cause of industrialization and modernization, an economic spearhead and one of the country's key hard currency earners by 2020

 

One of the key measures is to restructure the production activities, focusing on boosting large-scaled aquaculture areas and setting up a close link between farmers, scientists and regulators so as to mass-produce a large quantity of products, control the quality and ensure the food hygiene safety.

 

On the roadmap, in 2010, the fishery sector will have ship abroad more than 900,000 tons of seafood.

 

The fishery sector needs to boost exports to big markets, especially China, and at the same time, expand outlets globally to avoid regional fluctuations.

 

The sector will strive to earn 25 per cent of total export value from Japan, between 23 per cent-25 per cent from the US, 20-22 per cent from the EU, 7-9 per cent from China and Hong Kong and 8 per cent from South Korea.