September 22, 2010

Vietnam aims US$8-9 billion in 2020 seafood export

Vietnam targets to earn between US$8-9 billion from seafood export in 2020, the government reported Tuesday (Sep 21).

The target is included in the country's seafood sector development strategy by 2020 which has recently been approved by Vietnamese Prime Minister Nguyen Tan Dung.

In the strategy, Vietnam also sets a goal that the country's total seafood production in 2020 will reach between 6.5-7 million tonnes. Production growth rate of the seafood sector will be between 8%-10% a year from now to 2020. Vietnam is expected to spend VND57.4 trillion (US$2.95 billion) on implementation of the strategy.

In the first eight months of this year, Vietnam brought home US$2.9 billion from selling seafood to the world markets. According to the Ministry of Agriculture and Rural Development, the country aims to rake in US$4.5 billion from seafood export this year.