The country has an extremely long coastline extending over 3,260km and thousands of islands, with more than 20 typical ecosystem types that are home to some 11,000 sea creatures. In addition, 1,300 unique marine species have been found on its islands.
As coastal ecosystems facilitate the breeding of a variety of marine species, they pose huge potential for biodiversity while also serving as a basis for the stable development of some sea-based economic sectors such as fishing, tourism, and natural preservation. Thus, conservation must be integrated with marine economic development towards building a blue economy.
According to the Vietnam Administration of Seas and Islands, there are approximately 1 million ha of coastal wetlands in Vietnam, most of which have been used for aquatic cultivation.
Fish reserves are estimated at 5.4 million tonnes, with sustainable exploitation potential reckoned at 2.4 million tonnes per year. In 2013, the country took in a yield of 2.3 million tonnes of seafood and earned a total export revenue of around 6.7 billion USD.
In addition, around 35 types of mineral resources have been located in the Vietnamese waters, including fuel, metal, building materials, and gemstones. The Gulf of Tonkin, the Gulf of Thailand, the Hoang Sa and Truong Sa archipelagos, as well as the continental shelf all hold great prospects for oil and gas production exploration.
Besides, the East Sea is among the four regions in Southeast Asia with huge potential for renewable energies, including clathrate – a clean energy which can be used in replacement of traditional energies like coal, oil and gas.
Bestowed with 126 stunning beaches, Vietnam has a wonderful opportunity to branch out its coastal and sea-based tourism.
The country is also just starting to launch its maritime services thanks to its system of international sea ports.
VNA
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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