November 9, 2010

Vietnam aquaculture targets 10% growth

Vietnam's fish farming industry is planning to attain a yearly growth of 8%-10% until 2015, with export revenue estimated to hit US$6.7 billion by 2015 and US$8 billion by 2020.

The former deputy Minister of Fishery, Nguyen Thi Hong Minh, said the Vietnam Fishery Export Development Plan called for the country to develop the fishery sector into a large-scale production sector with high global competitiveness.
 

Fishery materials for processing exports are expected to be 3.2 to 3.5 million tonnes by 2015 whereby 2.5 to 2.6 million tonnes will come from local production while the remaining will come from imports, according to the plan.
 

In addition, by 2020, all export-processing establishments will meet international regulations on food and environment.
 

All processing firms will take part in production chains and carry out traces on the product's source.
 

The industry will also concentrate on developing the processing industry to increase product value and enhance the competitiveness of Vietnamese fishery products.
 

In order to achieve the target, the sector intends to maintain areas for tiger shrimp and pangasius farming. It also plans to improve farming technology which will allow the prevention of disease and spend more on irrigation systems.
 

In the coming years, besides seeking new export markets, the industry would maintain the key export markets of the EU, Japan, and the US, Minh said.
 

"The Middle East, North Africa, South Africa, and western China are also markets with high potential," said Nguyen Viet Manh from Vietnam's General Department of Seafood.
 

He also encouraged local firms to diversify their products in order to meet increasing demands from local and foreign customers.