10 strategic highlights of Vietnam’s fisheries industry in 2025

1. Seafood exports set a historic record at $11.3 billion

In 2025, Vietnam’s seafood export turnover reached $11.3 billion, up 13% year-on-year, setting a new all-time high for the industry. This achievement came despite severe global trade volatility and a series of stringent barriers from major markets, particularly the United States, including reciprocal tariffs, shrimp anti-dumping risks and MMPA regulations.

The industry’s strong performance was driven by three key factors. First, rising global food stockpiling demand amid geopolitical uncertainties. Second, the proactive and flexible response of Vietnamese enterprises, which identified risks early, adjusted shipment schedules, and accelerated exports ahead of unfavorable policy changes. Third, the effective utilization of free trade agreements (CPTPP, EVFTA, RCEP), enabling breakthroughs in potential markets and offsetting difficulties in traditional destinations.

2. Turbulence from U.S trade policies and countervailing duties

From early April 2025, the US administration announced a new reciprocal tariff policy targeting more than 75 countries with large trade surpluses. Vietnam was initially proposed a tariff rate of up to 46%, later reduced to 20% from August 2025 following intensive negotiations.

The 'double taxation' effect (reciprocal duties layered on top of anti-dumping and countervailing duties) triggered a shipment rush in Q2/2025 before enforcement. This has fundamentally reshaped seafood trade flows: while the shrimp sector faced mounting pressure and surging costs, pangasius exporters capitalized on the opportunity created by high U.S. tariffs on Chinese tilapia to consolidate their market share. Nevertheless, these barriers forced enterprises to recalibrate pricing strategies and accelerate market diversification toward more stable destinations such as Japan, the EU, and CPTPP markets.

3. Favorable anti-dumping results for pangasius in the U.S

In June 2025, the U.S. Department of Commerce (DOC) announced the final results of the 20th administrative review (POR20) on frozen pangasius fillets imported from Vietnam for the period August 1, 2022 - July 31, 2023, delivering a positive signal for the billion-dollar industry. Notably, seven Vietnamese pangasius exporters received a 0% duty rate, an addition of six companies compared to the previous review. In particular, Vinh Hoan Corporation was officially removed from the tax review list following a historic bilateral agreement between Vietnam and the United States earlier in 2025.

4. Adverse preliminary POR19 results for the shrimp industry

In the short term, Vietnamese shrimp exporters faced heightened short-term risks from the preliminary POR19 anti-dumping review on frozen shrimp exports to the US. The preliminary ruling by the US Department of Commerce indicated an anti-dumping margin of up to 35.29%, far exceeding market expectations. The final determination, expected in February 2026, is expected to heavily impact shrimp exports performance throughout the remainder of 2026.

5. US rejects MMPA equivalency for 12 Vietnamese fisheries

In August 2025, the U.S announced its refusal to grant 'comparability' status to 12 Vietnamese fisheries under the Marine Mammal Protection Act (MMPA), resulting in an import ban effective January 1, 2026. Affected species include groupers, crabs and other crustaceans, cuttlefish, groundfish, flounder, mullet, snapper, sole, scad, lobster, mackerel, tuna, marlin, and swordfish harvested using the 12 designated fishing methods.

Key reasons cited included the presence of endangered marine mammals (such as dolphins) in high-risk fishing grounds, along with insufficient monitoring and reporting of bycatch. Although Vietnam prohibits the intentional harvesting or killing of marine mammals - with violations subject to criminal or administrative penalties - existing mitigation measures have yet to demonstrate sufficient effectiveness in reducing incidental catch below allowable thresholds.

If unresolved, the issue could affect over $500 million in annual seafood exports from these 12 fisheries to the United States, accounting for nearly one-quarter of Vietnam’s exports of these species with tuna alone representing 18%, followed by crab (3%) and squid (nearly 1%).

From January 1, 2026, 11 fisheries will be banned, while the blue swimming crab fishery has been granted a six-month extension from November 12, 2025. Exporters will be required to obtain Certificates of Admissibility (COA) for MMPA-compliant products.

6. Kien Giang blue swimming crab earns "Grade A" rating

Regarding resource management, the Kien Giang Blue Swimming Crab Fishery Improvement Project (FIP) was upgraded to Grade A by FisheryProgress in September 2025. Importantly, FIP assessments confirmed that current crab fishing practices in Vietnam show no recorded negative impact on marine mammals.

On October 31, 2025, the U.S Court of International Trade issued a temporary injunction suspending the U.S import ban on blue swimming crabs from Vietnam and three other Asian countries. The ruling allows exports to continue while granting Vietnam additional time to submit scientific evidence supporting MMPA equivalency.

7. Decree 309/2025 suspends minimum catch-size rules for 10 species

On November 29, 2025, Deputy Prime Minister Tran Hong Ha signed Decree No. 309/2025/ND-CP, amending regulations guiding the implementation of the Fisheries Law.

The decree suspends minimum catch-size requirements for 10 aquatic species, including frigate tuna, kawakawa, largehead hairtail, longtail shad, bullet tuna, yellowfin tuna, bigeye tuna, skipjack tuna, hard-shell shrimp and squid (Loligo chinensis and Loligo edulis).

The adjustment aims to resolve administrative bottlenecks and better align management rules with on-the-ground fishing realities.

8. Intensified government action against IUU fishing

2025 marked a peak phase in Vietnam’s efforts to remove the European Commission’s (EC) 'yellow card' warning. The Government and the Prime Minister issued firm and continuous directives, including weekly meetings of the National IUU Steering Committee, underscoring the highest level of political commitment.

VASEP reaffirmed its commitment to working closely with the Government and ministries and relevant ministries with the highest spirit of proactivity. The Association has been intensifying communication and advocacy efforts within the business community to ensure strict compliance with IUU regulations, while maintaining a firm stance against the procurement of seafood from unverified sources.

9. Decree 320/2025/ND-CP: Corporate income tax incentives confirmed

After nearly five years of advocacy, VASEP and the seafood business community welcomed a major breakthrough: seafood processing activities are now officially eligible for Corporate Income Tax (CIT) incentives under Decree 320/2025/ND-CP, issued on December 15, 2025.

The enactment of Decree 320/2025/ND-CP not only reduces tax burdens but also establishes a clear legal framework, enhancing the competitiveness of Vietnam’s seafood exports.

10. National Assembly passes amendments to the VAT Law

At its year-end 2025 session, the National Assembly of Vietnam approved amendments to the Value-Added Tax Law. This is regarded as a pivotal decision to promptly address emerging regulatory hurdles, despite the fact that the revised VAT Law had only been in effect for a short period.

The revised law focuses on resolving three major issues: (i) Eliminating the 'pay-then-refund' cycle for pre-processed agricultural products; (ii) Granting full VAT exemption for non-taxable inputs such as animal feed and (iii) Removing the requirement that conditions tax refunds on the supplier’s full tax declaration and payment.

These changes are expected to unlock frozen working capital, improve cash-flow flexibility and reduce legal risks for seafood exporters across the supply chain.