Illustrative image (Photo: laodong.vn) Accordingto Hang, the Prime Minister has demanded the State Bank of Vietnam effectivelymanage credit operations to ensure the suitable provision of credit capital, andcontinue to reduce interest rates to support businesses, especially those in aquatic export.
Thebank has been required to implement supportive and preferential policies, includingproposing a credit package worth 10,000 billion VND (over 425.4 million USD) tosupport businesses operating in forestry and aquatic production and processingindustries.
Credit programmes should be prioritised for the fisheries sector, towards creatingfavourable conditions for businesses involved in the industry to access credit sourcesserving their production and business activities, thus promoting livelihoodsfor fishermen.
Total agro-forestry-aquatic product exports turnover reaches an estimated 20.26 billion USD in the first five months of 2023. -Illustrative image (Photo: baochinhphu.vn) TheMinistry of Industry and Trade has been ordered to focus on trade promotionactivities, including continuing negotiations and signing trade agreements withpotential partners, in order to expand export markets for Vietnamese aquatic products.
It is also tasked with protecting brands of export-import goods ininternational markets in the event of trade disputes, and providing guidance onlegal mechanisms and regulations to help individuals and businesses comply withlegal requirements and international commitments.
The PM has asked the Ministry of Agriculture and Rural Development to closely coordinate withrelevant agencies and localities to implement effective measures to fight illegal,unreported and unregulated (IUU) fishing in an attempt to get the EuropeanCommission (EC)’s “yellow card” warning against its seafood exports removed.
The ministryis also tasked with exploring and promoting new markets for Vietnam's exportactivities, and continuing efforts to promote sustainable fisheries managementand development.
Meanwhile,the Ministry of Natural Resources and Environment have been required to build landpolicies to ensure that they are favourable for enterprises to develop in thedirection of specialised and large-scale production.
Total agro-forestry-aquatic product exports turnover reached an estimated 20.26 billion USD inthe first five months of 2023, down 11.1% year-on-year. The aquaculture sector alone earned 3.47 billion USD, down 25.9%.
China, the US, and Japan remainedthe top three importers of Vietnamese aquatic products in the period.
The Ministryof Agriculture and Rural Development attributed the situation to the global economicdownturn, high inflation rates in some developing countries, and tightenedmonetary policies in major markets, saying that businesses are facingdifficulties in securing orders.
However,it said that these difficulties are only temporary, adding that the demand for Vietnam's seafood products in major markets has gradually recoveredand recorded growth again.
According to Deputy Minister of Agricultureand Rural Development Phung Duc Tien, the export turnover of the sector is expected to enjoy a rebound andachieve growth again from the fourth quarter of this year./.
China, the US, and Japan remainedthe top three importers of Vietnamese aquatic products in the period.
The Ministryof Agriculture and Rural Development attributed the situation to the global economicdownturn, high inflation rates in some developing countries, and tightenedmonetary policies in major markets, saying that businesses are facingdifficulties in securing orders.
However,it said that these difficulties are only temporary, adding that the demand for Vietnam's seafood products in major markets has gradually recoveredand recorded growth again.
According to Deputy Minister of Agricultureand Rural Development Phung Duc Tien, the export turnover of the sector is expected to enjoy a rebound andachieve growth again from the fourth quarter of this year./.
VNA
