December 7, 2007

Vietnam's Can Tho province to invest US$285 million for fisheries

Southern Can Tho city has mapped out its fisheries development programme for 2020 wherein it will need an investment of VND4,561 billion (US$285 million).

The fund will be mobilized from different sources and a little contribution will come from provincial budget.

From now to 2010, the city will kick off 12 projects focusing on setting up aquatic breeding farms and aquatic product areas in Thot Not, Vinh Thanh, Co Do, Phong Dien and O Mon districts.

From 2010 to 2020, some 116 more farms and areas of their kinds will be built in order to provide 2.3 billion breeding fishes and shrimps per annum.

Under the programme, Can Tho city will expand its total aquaculture acreage to 26,000 hectares by 2020 with total output hitting 418,000 tonnes worth VND3,687 billion (US$230.4 million).

Total seafood factories in the city will be raised to 21 in 2010 with a combined capacity of 140,550 tonnes a year, and 26 in 2020 with capacity of 296,500 tonnes.

The sharp rise in production is expected to bring the city's total seafood export volume to 163,200 tonnes worth US$864 million.

The overall programme will create jobs to around 50,000 local labourers, the service said.

Can Tho seafood companies have earned US$235.3 million from 71,000 tonnes of seafood exports from January-November this year, up 13.3 percent on year in value and accounting for 50.7 percent of the city's total export revenue, according to the Vietnam Association of Seafood Exporters and Producers.