Assuming that Vietnam imported US$600 million worth of products every year, then tax payments would stand at US$120 million with an average import tax rate of 20%. If banks charged guarantee fees at 2.5%, importers would have to pay US$3 million, which given an interest rate of 12% would rise to US$3.36 million, or some VND70 billion, said Nguyen Hoai Nam, deputy general secretary of VASEP.
“Seafood enterprises lose VND70 billion each year, which will be included in production costs. Bank revenues are rising thanks to this source,” said Nam at a conference on the draft regulation on import tax grace period with guarantee of credit institutions held by VASEP on Monday.
Most seafood firms have to import materials at certain times in a year, when the sea is rough, making it impossible for fishing.
Enterprises said the requirement for bank guarantee imposes an extra expense on them. The General Department of Customs, one of the compilers of the draft regulation, said enterprises could use letters of credit for the next shipments as collateral.
However, Nguyen Xuan Nam, director of Hai Vuong Co. Ltd., stressed the compilers were standing away from taxpayers. “Not all enterprises open letters of credit. My customers in Europe in the current economic downturn also fear collateral at banks,” he said.
Enterprises should be allowed to gain profits first, and then tax revenues would rise, said Nam.
Nguyen Pham Thanh, general director of foreign-invested Highland Dragon Company, specializing in canned seafood, said he was surprised at this regulation.
He said investment incentives and friendly business environment were what attracted the foreign investor. “But changes and inconsistency in policies now make us very disappointed,” he stressed.
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.
According to VASEP, seafood material imports picked up sharply in the last two years. Import value rose from US$247.7 million in 2007 to US$541 million in 2011.
In 2011, imported seafood materials contributed some US$900 million to the total export value. Seafood material import value is estimated at US$600 million this year.
(vasep.com.vn) In the first quarter of 2026, Vietnam’s shrimp exports reached USD 1.069 billion, up 17.5% compared to the same period in 2025. This is a positive result amid an uneven global shrimp market recovery, intensifying competition among major suppliers, and continued volatility in the international trade environment. However, this growth does not reflect a broad-based recovery across the entire sector, but rather is driven mainly by strong performance in a few markets and specific product segments—most notably lobster exports to China.
(seafood.vasep.com.vn) Vietnam’s tuna exports continued to decline in March 2026. Cumulatively, in the first three months of the year, export value reached USD 208 million, down 4% compared to the same period in 2025. The export landscape shows clear divergence across markets: while the U.S. and EU remain challenging, markets such as Russia, the Middle East, Egypt, the Philippines, and Mexico have emerged as growth bright spots.
(seafood.vasep.com.vn) In Quang Ngai Province, shrimp farming costs are rising sharply due to लगातार increases in feed, fuel, and input material prices, while farm-gate shrimp prices are declining. This has significantly reduced farmers’ profit margins and increased production risks.
(seafood.vasep.com.vn) Vietnam’s tilapia exports are experiencing impressive growth, reflecting expanding global demand as well as the sector’s development potential. However, behind the strong growth figures lie limitations in production capacity and supply chains, highlighting the need for sustainable development in the coming period.
(seafood.vasep.com.vn) Vietnam’s pangasius exports to the Middle East in 2025 and early 2026 have shown notable growth. However, escalating geopolitical tensions in the region have increasingly impacted export activities since March. This situation presents a challenge of balancing market expansion opportunities with rising trade risks.
(seafood.vasep.com.vn) The Quang Tri Department of Agriculture and Environment has instructed localities to base their stocking schedules on actual conditions in each farming area, while developing plans, allocating resources, and implementing synchronized measures for disease prevention and disaster risk management in aquaculture production.
(seafood.vasep.com.vn) In the first two months of 2026, Vietnam’s exports of fish cakes and surimi exceeded USD 45 million, up 7% compared to the same period in 2025, indicating a positive outlook for this product segment amid recovering demand in many markets.
(seafood.vasep.com.vn) During the week from April 4th to 10th, 2026, Quang Ngai province intensified its monitoring and law enforcement activities with the determination to eliminate illegal, unreported, and unregulated (IUU) fishing practices.
(seafood.vasep.com.vn) Thanh Hoa’s shrimp sector is undergoing a strong transformation by accelerating the adoption of high technology, helping to improve productivity, increase profits, and meet market demands. The province currently has about 4,100 hectares of shrimp farming, with output continuing to rise despite stable farming area, mainly due to the shift from traditional methods to intensive and super-intensive farming.
(vasep.com.vn) Amid ongoing volatility in global seafood trade, Vietnam’s crab exports have made a fairly positive start to 2026. According to Vietnam Customs statistics, export turnover in the first two months of 2026 reached nearly USD 55 million, up 24% compared to the same period in 2025 and more than 2.2 times higher than in the same period of 2024. This indicates that crab exports are entering 2026 with stronger growth momentum, particularly in Asian markets.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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