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.

Pangasius enterprises show their interests in processing

16:26 10/31/2014

(vasep.com.vn) Many pangasius enterprises are investing in processing to create products with higher values such as cooking oil, collagen and gelatin to expand the market and reduce dependence on exports.

According Vietnam Pangasius Association, pangasius fillets was accounted for over 80% of pangasius exported products,whole fish or cut fish products made up 10% and value added products took up only 5%.

Annual production of fat from pangasius in Mekong Delta is at least 140,000 MT. This is used for feeds, biodiesel or exported at low prices. Meanwhile the demand for biodiesel is growing in Vietnam. Ranee fish oil plant, invested by Sao Mai Groupis projected to produce at 100 MT/ day then upgrade to 200 MT/ day and achieve 300 MT/day after 2016, using this oil.

Vinh Hoan Corporation, on its completion of its 2,000 MT /year collagen and gelatin factory in Cao Lanh district of Dong Thap province, expected to launch the new products in the beginning of 2015.