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.
(seafood.vasep.com.vn) On June 16, the Department of Agriculture and Environment of Ca Mau Province announced that the locality has established a farming area code for nearly 30,400 hectares of mud crab aquaculture and granted export facility codes to five enterprises eligible to export mud crab officially to markets such as China, Cambodia, Singapore, and the United Arab Emirates (UAE).
(seafood.vasep.com.vn) The United States remains one of the largest export markets for Vietnamese pangasius. In the first four months of 2026, pangasius exports to the US reached USD 106 million, up 4% compared to the same period in 2025. In April 2026 alone, export value totaled USD 38 million, marking a 20% year-on-year increase and the first positive growth recorded after an extended period of decline.
(seafood.vasep.com.vn) While Vietnam’s shrimp exports to many major markets continued to post positive growth in the first months of 2026, exports to the United States declined, highlighting growing competitive pressures and trade barriers facing the Vietnamese shrimp industry.
(seafood.vasep.com.vn) Egypt is emerging as one of the most promising destinations for Vietnamese tuna exports in 2026. During the first four months of the year, export turnover to this market exceeded USD 7.3 million, marking a sharp increase compared to the same period over the previous two years. As Egypt’s tuna imports continue to recover and demand for canned tuna remains strong, the market is becoming increasingly attractive for Vietnamese tuna processors and exporters.
(seafood.vasep.com.vn) During the first four months of 2026, Vietnam’s pangasius exports to CPTPP member countries reached nearly USD 128 million, accounting for 18% of the country’s total pangasius export value and increasing by 21% compared to the same period in 2025. Demand patterns varied significantly across the bloc: Mexico primarily imported fresh and frozen pangasius products, while Japan and Canada recorded substantial shares of processed products. Australia remained focused on frozen fillets but continued to maintain a portion of processed imports.
(seafood.vasep.com.vn) Despite the slow recovery of the U.S. market and continued trade-related challenges facing Vietnam’s shrimp industry, Minh Phu Seafood Corporation (MPC) has set ambitious targets for 2026. The company aims to produce 68,800 metric tons of finished shrimp products, generate consolidated revenue of VND 19.9 trillion, and achieve VND 1.059 trillion in pre-tax profit. If achieved, these figures would represent the highest revenue and profit levels in the company’s history.
(seafood.vasep.com.vn) HungHau Foods Joint Stock Company (HungHau Foods) has been honored at the 33rd Asia-Pacific Economic Forum, receiving two prestigious awards: “Top 10 Outstanding Asia-Pacific Enterprises 2026” and “Top 10 Outstanding Entrepreneurs” awarded to HungHau Foods CEO, Ms. Nguyen Yen.
(seafood.vasep.com.vn) After a period of sluggish imports in 2025, the Chinese market has returned with strong shrimp purchasing momentum in the first months of 2026. However, alongside rising demand comes an increasingly stringent import control system, covering quarantine requirements, food safety standards, registration procedures, and traceability. This makes China a market that offers both significant opportunities and growing risks for Vietnamese shrimp exporters.
(seafood.vasep.com.vn) Recently, in Long Xuyen City, An Giang Province, the Institute of Policy and Strategy for Agriculture and Rural Development (IPSARD) and the University of Economics Ho Chi Minh City (UEH) organized a workshop to announce the results of the project “Food Loss Assessment in the Pangasius Value Chain in the Mekong River Region.” The project aims to provide scientific evidence to support the sustainable development of Vietnam’s pangasius industry.
(seafood.vasep.com.vn) Shrimp prices in Vietnam’s Mekong Delta have recovered since early May, helping to improve farmers’ confidence and accelerate stocking activities for the 2026 farming season. However, farmers remain cautious due to rising input costs, unfavorable weather conditions, and disease risks.
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
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Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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