Shrimp, abalone to be under US import monitor from December 31

With the US tightening import rules for shrimp and abalone at the end of this year, Vietnamese processors and exporters need to start preparing data now, an American expert has said.
Shrimp, abalone to be under US import monitor from December 31 ảnh 1Illustrative image (Source: VNA)
HCM City (VNA) – With the UStightening import rules for shrimp and abalone at the end of this year, Vietnamese processors and exporters need to startpreparing data now, an American expert has said.

Speaking at a seminarco-hosted by the Directorate of Fisheries, the US Embassy in Vietnam and theVietnam Association of Seafood Exporters and Processors (VASEP) in Ho Chi Minh Cityon August 1, Celeste Leroux, an expert from the National Oceanic andAtmospheric Administration (NOAA), urged Vietnamese producers and exporters towork with US importers to provide information as required.

From December 31, shrimpand abalone imports will be subject to mandatory compliance under the US Seafood ImportMonitoring Programme (SIMP).

The programme requiresimporters to keep records from harvest to the point of entry to the US for fishand fish products particularly vulnerable to illegal, unreported andunregulated (IUU) fishing or seafood fraud.

Thirteen species, namely abalone, Atlantic cod,blue crab (Atlantic), dolphin fish (Mahi Mahi), grouper, king crab (red),Pacific cod, red snapper, sea cucumber, shark, shrimp, swordfish and tuna, are identifiedas particularly vulnerable to IUU fishing and fraud.

VASEP General SecretaryTruong Dinh Hoe said a long time ago, Vietnamese seafood exporters establishedprogrammes to trace the origin of their products when exporting to the US andEU.

“The issue is how wesystematise and standardise the information we need to provide and keepstandardised records to maintain our exports to the US”, he said.

In the near future, VASEP will work with theDirectorate of Fisheries and the Ministry of Agriculture and Rural Development tosupport businesses so seafood exports to the US are uninterrupted.

Among the 13 species under SIMP supervision,shrimp is the hardest hit. Each year, shrimp exports to the US are valued at500 million – 1 billion USD, or more than half of the total seafood shipment ofabout 1.5 billion USD to the market.

The US is one of the largest seafoodimporters worldwide with a value of roughly 96 billion USD.-VNA

VNA

See more

Prime Minister Pham Minh Chinh presents Tet gifts to workers in Ngoc Lac district, Thanh Hoa province, on January 26. (Photo: VNA)

Thanh Hoa should be nation’s growth pole: PM

PM Pham Minh Chinh expressed his confidence that the Party organisation, administration, whole political system, armed forces and people of Thanh Hoa will promote solidarity and take drastic actions to fulfill the tasks for 2025 with results better than last year's.

The Vietnamese section of the Monsoon – Thanh My 500kV transmission line project (Photo: VNA)

500kV transmission line from Laos energised

The Monsoon – Thanh My 500kV transmission line project is designed to import electricity from Laos’ Monsoon wind power plant to Vietnam, adding 600 MW to the national power grid during the 2024–2025 period.​

The entrance gate to Hanoi’s Ciputra Urban Area, where banks are selling apartments and villas. (Photo: cafef.vn)

Banks selling mortgaged assets to recover bad debts

The Viet Dragon Securities Company (VDSC) said that bad debts might continue to increase slightly this year, after a circular allowing banks to reschedule debt repayment periods and maintain the debt group for certain sectors expired at the end of 2024.

Vietnamese Ambassador to Argentina Bui Van Nghi (th fourth from the fright) in the meeting with Governor of Brazil's Espirito Santo state Renato Casagrande. (Photo: VNA)

Vietnam seeks to set up cooperation with Brazilian locality

In his meeting with Governor of Brazil's Espirito Santo Renato Casagrande, Ambassador to Argentina Bui Van Nghi Bui Van Nghi valued the potential for cooperation between the two sides, particularly in priority areas such as tourism, information technology, hi-tech agriculture, and seaport.

Remittances to Vietnam in 2024 are estimated at about 16 billion USD, maintaining the record-high levels seen in 2023. (Photo: VNA)

Remittances surge as Tet approaches

According to the State Bank of Vietnam’s Ho Chi Minh City branch, 9.6 billion USD, or 60% of the total remittances, flew through financial institutions, representing a 140 million USD increase from the previous year.

Bank lending in HCM City achieves high growth last year. (Photo courtesy of ABBANK)

Banks' credit up 11.3% in HCM City in 2024

Total outstanding loans of credit institutions in Ho Chi Minh City as of the end of last year were worth over 3.9 quadrillion VND (153.3 billion USD), a 11.3% increase for the year, according to the central bank.