However, Ministry of Finance has recently compiled a draft on the revised Tax Management Law that requires importers to provide a credit guarantee by credit institutions to enjoy imported tax payment grace in 275 days. The grace period is allowed under the Import and Export Tax Law for companies that import raw materials for production of goods for export.
Companies would encounter more financial difficulties and would have to scale down production if the changes to the grace period were approved.
Most seafood companies have to import materials since local sources only meet 60-70 percent of their production capacity. In the last five years, seafood material imports rose sharply, from US$247.7 million in 2007 to US$541.1 million last year, contributing US$400-900 million a year to total export revenue. Now, there are more than 400 seafood enterprises importing raw fish from almost 80 origins in the world, up 150 importers compared to the previous time.
In the first six months of 2012, Vietnam imported raw fish from 69 countries and territories in the world, worth by nearly US$331 million in which finfish in all kinds (excluding pangasius) made up 37 percent, tuna made up 30.6 percent, shrimp with over 23 percent and the rests were mollusk, crab, swimming crab and other crustacean. To touch US$2.8 billion of seafood export turnover in the first 6 months of 2012, 20 percent out of total exports was processed and exported from imported raw material.
Out of importers of raw material for processing and exporting, over 200 ones have processing plants and they have to purchase 20 – 90 percent of total raw material each year which can create jobs for over 100 thousand workers.
In the last 5 years, seafood enterprises’ production costs have surged by 70 - 100 percent. For the first time, in 2012, export price of Vietnam shrimp was US$2 - 3 per kilogram higher than that of other countries. Export price of pangasius was low. Export price of mollusk was US$1-2 per kilogram higher than average export price of China, Indonesia...Vietnam seafood enterprises’ competitiveness are less than other countries due to rocketing production costs, tax, interest rate and fees.
In the national plan of seafood processing development by 2020, Ministry of Agriculture and Rural Development (MARD) determined that seafood processing is a boost for fishing, aquaculture and logistic services in fisheries industry.
Objective to 2020, Vietnam will build a mordern seafood processing system from production, raw material purchasing to processing and distributing with high competitiveness. To attain the seafood export target of US$8 billion by 2015 and US$10 billion by 2020, Vietnam has to import 600,000 MT of raw material (estimated as US$1.2 – 1.4 billion) by 2015 and 1 million MT (US$2-2.2 billion) by 2020 serving for processing and exporting.
The draft on the revised Tax Management Law with credit guarantee is challenging Vietnam seafood enterprises in the wake of lack of capital, raw material and fierce competitiveness.
According to the draft, banks charged 2-3 percent a year for guarantee fees, plus interest rates, pushing up production costs and product prices, affecting the competitiveness of Vietnam enterprises and narrowing their business.
Vietnam imports about US$600 million worth of seafood materials each year. With an average tax of 20 percent, seafood companies would have to pay a total of US$120 million a year in taxes.
If the Finance Ministry’s proposal is approved, importers would have to pay an additional cost of $3.36 million per year in bank-guarantee and interest rate fees. This was unreasonable to enterprises.
VASEP sent a letter to the General Department of Customs under the ministry, asking that the proposal be shelved. On 15th October, VASEP held a meeting with the participation of many seafood enterprises to collect their opinions on the draft. VASEP said it would send a report to the National Assembly and relevant agencies on this issue in the coming sitting on October 22. In addition, the association is asking for a zero import tax rate.
(seafood.vasep.com.vn) Vietfish 2026, the Vietnam International Seafood Exhibition, will officially take place from 19–21 August 2026 in Ho Chi Minh City. As Vietnam’s largest annual seafood trade event, organized by the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietfish 2026 will once again bring together leading seafood companies, industry experts, and international partners from across the global seafood value chain.
(seafood.vasep.com.vn) Vietnam’s seafood exports reached USD 1.1 billion in July 2026, up 4.8% compared to the same period in 2025. Cumulative exports in the first seven months of the year totaled nearly USD 6.86 billion, an increase of 11.5% year-on-year. Exceeding the USD 1 billion mark in July further reinforces the prospect that Vietnam’s seafood exports could surpass USD 12 billion in 2026. However, the July figures also send a clear signal that the most favorable growth period may have passed: overall export growth slowed to just 4.8%, pangasius exports fell 6.1%, tuna exports were virtually flat, while exports to the EU, South Korea, and the Middle East all recorded double-digit declines.
(vasep.com.vn) As part of the Vietnam Fisheries International Exhibition (Vietfish 2026), the seminar "Global Seafood Market and the Future Workforce: Trends, Opportunities, and Sustainable Development Pathways for Vietnam's Seafood Industry" will take place from 2:00 p.m. to 4:15 p.m. on August 19, 2026, at Convention Room B, Level 2, SECC, Ho Chi Minh City. This is the first of five specialized seminars at Vietfish 2026, focusing on key issues that are shaping the long-term development of Vietnam's seafood industry.
(seafood.vasep.com.vn) Vietnamese seafood exports recorded impressive growth, generating nearly 6 billion USD in revenue during the first six months of the year, up 13% compared with the same period last year.
(seafood.vasep.com.vn) Fishermen in Ha Tinh are gradually overcoming difficulties to maintain the efficiency of seafood exploitation. In the first six months of 2026, the entire province achieved a production of more than 23,000 tons of seafood, worth more than 1,200 billion VND.
(seafood.vasep.com.vn) June 2026 brought encouraging signs for Vietnam's tuna exports, with export value rising 20% year-on-year to nearly USD 72 million. However, this increase has yet to offset the prolonged slowdown seen in key markets such as the European Union (EU), where import demand remains weak. The outlook for the second half of the year is expected to become more challenging as freight rates continue to climb.
(vasep.com.vn) As part of the Vietnam Fisheries International Exhibition (Vietfish 2026), the Vietnam Association of Seafood Exporters and Producers (VASEP), in collaboration with the Agency for Domestic Market Management and Development under the Ministry of Industry and Trade, will organize the Domestic Seafood Supply–Demand Matching Program on the morning of August 20, 2026, at the Saigon Exhibition and Convention Center (SECC), Ho Chi Minh City. The program aims to foster direct business connections between Vietnamese seafood producers and processors and domestic distributors, retailers, and foodservice channels.
(seafood.vasep.com.vn) The Cooking Show will be one of the most engaging experiential highlights of Vietfish 2026. Taking place over three days, from August 19–21, 2026, at Hall B1, SECC, Ho Chi Minh City, the event will offer visitors a vibrant culinary space where Vietnamese seafood is showcased through its flavors, stories, and real-life culinary applications.
(seafood.vasep.com.vn) Vietnam's pangasius exports reached USD 205 million in June 2026, up 5% compared with the same month in 2025. Cumulative export value for the first six months of the year totaled USD 1.1 billion, an increase of 12% year-on-year. Growth was primarily driven by strong demand from China and CPTPP markets, while exports to the United States and Brazil continued to decline.
(seafood.vasep.com.vn) In the first six months of 2026, Ha Tinh province continued to implement comprehensive solutions to combat IUU fishing; strictly manage the fishing fleet, control fishing vessels entering and leaving ports, operate vessel tracking devices, trace the origin of seafood, and severely punish violations.
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