Vietnam’s shrimp exports are expected to reach between 4.5 – 5 billion USD by 2020, with an annual increase of between 9.5 – 12 percent.

The Ministry of Agriculture and Rural Development said these targets are set in the national action plan on developing the shrimp sector to 2025 to be submitted to the Prime Minister.

By 2025, the sector aims to earn 10 billion USD and record a year-on-year increase of 12 – 14 percent.

It also plans to develop hi-tech shrimp production on large scale, with a total brackish-water shrimp raising area reaching 750,000 hectares, producing 1.1 million tonnes.

Vietnam is the world’s third largest shrimp exporter and the world’s leading exporter of giant tiger prawn.

Shrimp export accounted for nearly 50 percent of the total seafood export with the highest value of nearly 4 billion USD achieved in 2014.

The figure was 3.1 billion USD in 2016 and is expected to hit 3.4 billion USD in 2017.-VNA