September 23, 2003



Development Policy For Vietnam's Aquaculture Industry


Vietnam's Fisheries Ministry has suggested the government proposed an aquaculture development policy for the sea and islands.


Under the policy, sea surface for aquaculture development will be allocated or leased for less than 20 years. Households, individuals, domestic enterprises and joint ventures with foreigners will be eligible to lease sea surface. Those involved in aquaculture will be exempted from income tax for the first three years of operation.


Each year, the State grants around 10 billion VND to accelerate fisheries activities. From now until 2006, major aquaculture coastal areas will be established in the northern port city of Hai Phong; northern Quang Ninh; central Thua Thien-Hue, Phu Yen and Khanh Hoa; and southern Ba Ria-Vung Tau and Kien Giang provinces.
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