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.  

Kien Giang boosts exports in remaining months

The Mekong Delta province of Kien Giang is striving to gross more than 42 million USD from exports in the fourth quarter of 2017, fulfilling its yearly target of 400 million USD.

Head of the import-export office under the provincial Department of Industry and Trade Ngo Quang Binh said one of the most important solutions in foreign trade activities in Q4 is providing key export businesses with global market information so that they can have flexible business plans and improve their competitiveness.

Global import demand in the remaining months of this year is forecast to surge, ahead of the Christmas and New Year holidays, he said, adding that it is necessary to reinforce traditional markets while seeking new ones as well as long-term partners.

Businesses should prepare seafood material, high-quality rice, and ensure food safety to supply for export processing plants, focusing on aquatic products with high economic values, he said.

The province helps businesses access loans and has increased trade activities at the Ha Tien international border gate and Gia Thanh national border gate on the local border with Cambodia, he added.

It also plans to implement a project improving the competitiveness of Vietnamese export products, a rice export development strategy, and to establish a steering committee on international integration.

In the first nine months of 2017, the export turnover in Kien Giang exceeded 357 million USD, a year-on-year rise of 38 percent, of which farm produce earned 136 million USD and aquatic products 144 million USD.

Source: VNA


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