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.

Standard Chartered: Vietnam - an attractive market to investors

08:58 09/20/2016

About 40 percent of Chinese investors will select Vietnam as their next location if they plan to move investment out of China, said a survey of the Standard Chartered Bank.

The bank's chief economist for Asia David Mann said Vietnam's policies which opened the door for more foreign direct investment (FDI) flows to enter its market have made the country an attractive market in Asia.

According to the economist, Vietnam’s administrative reform and tariff removal, and the country’s participation in regional trade agreements, help attract more foreign investors.

In its recent survey, Grant Thornton Vietnam also said that domestic and foreign investors are keen on the Vietnamese market and have positive outlook about the country’s economy.

Vietnam is attractive because of its abundant source of labour, low operational cost, diverse population structure and stable political environment.

According to ASEAN statistics, FDI into the region reduced by 8 percent to 120 billion USD in 2015, but the investment flows into Cambodia, Laos, Vietnam and Myanmar rose 38 percent to 17.4 billion USD.

Source: VNA