GENERAL INFORMATION

In Vietnam, the fishery sector plays an important role in the national economy, accounting for about 4-5 percent of Gross Domestic Product (GDP) and about 9-10% of national export revenue.

More than 4 millions of people working in the fishery and the growth in production have attributed to the fish exports. Thanks to strongly increase in many years, Vietnam ranks among the top ten seafood suppliers and its seafood products are exported to 170 markets in the world.

Shrimp, pangasius, tuna, squid and octopus are main seafood products exported by the country. In which, shrimp exports create about US$ 3.5 – 4 billion, make up 46-50% of the total seafood sales of Vietnam. Earnings from pangasius reached at US$ 1.7 – 1.8 billion (25% of the total) and exports from Tuna and Cephalopods are US$ 450 – 550 million for each.

Exports to the U.S, Japan, EU, China and South Korea make up 75% of Vietnam’s seafood sales to the wolrd.

5 advantages for Vietnam seafood exports:

(1) High commitment and participation from Government, Industry and companies for food safety, environment and social responsibility;

(2) Able to supply the big volume and safe quality and stable seafood products;

(3) Meet all the customers’ requirements, incl. the vertical linkage (integration) for each species sector;

(4) Vietnam is one in few countries in the world which has the good and stable labor resource;

(5) Vietnam has Agreements / FTAs with many countries and territories and has advantages both in product quality and im-ex tax.

A promising year for Vietnam fisheries

08:46 04/17/2015

(vasep.com.vn) With more attractive interest rates and other incentives offered, Vietnam businesses will find a better climate in 2015, when trade agreements take effect. The industry strives to produce 6.6 million MT of seafood, up 5.5% year on year with export value reaching US$ 8.5 billion.

In 2014, over 6.5 million MT of seafood of harvested. The country gained nearly US$8 billion from seafood. The most farmed species were brackish water shrimp and pangasius. These were also offered at stable prices.

In 2014, pangasius was reared in an area of 5,430 hectares. Exports reached over 718,000 MT, earning approximately US$ 1.8 billion. The industry is on its restructure to get better efficiency.

Farming area for brackish water shrimp farming was about 685,000 hectares. White leg shrimp farming has been developed since 2009. To date, whiteleg shrimp has been farmed in almost half of total rearing area in Mekong Delta. Currently, there are over 1,700 black tiger shrimp hatcheries along with over 500 whiteleg shrimp hatcheries, supplying 68 billion shrimp individuals and over 400,000 MT of shrimp for trade. Shrimp exports turnover was nearly US$ 4 billion.