March 4, 2013

 

Vietnam's Ca Mau aims US$1 billion in seafood exports

 

 

In 2013, Vietnam's southernmost province of Ca Mau will launch a broad range of measures to achieve its US$1 billion target in seafood export turnover.

 

The locality will invest VND10 billion (US$478,000) to organise fact-finding trips for 20 delegations of experts to explore over 20 markets worldwide, including the US , the EU and China , said Ly Van Thuan, Secretary General of the Ca Mau Association of Seafood Exporters and Processors.

 

Dozens of business delegations will also study potential markets such as India, Australia, the Republic of Korea, Japan, Russia, the Middle East and South Africa, Thuan added.

 

The common direction is market expansion and addressing difficulties regarding capital and stockpiles. As reported, in the first two months of this year, businesses signed 23 contracts worth nearly US$10 million with partners from the Republic of Korea, Japan, Russia and Canada.

 

Le Van Quang, Director General of Minh Phu Seafood Export Co., said Vietnam's aquatic products, and those of Ca Mau province in particular, are well known throughout the world.

 

He noted that Ca Mau's seafood export revenue stood at US$950 million last year. However, due to impacts of the global economic downturn, seafood businesses in Ca Mau faced a wide range of difficulties over the last two years, with many of them coming close to bankruptcy.

 

Twenty-three out of the 33 seafood processing plants operating in Ca Mau made a loss last year.

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