Vietnam sets a target of earning 4.1-4.2 billion USD from shrimp exports this year, higher than 3.6 billion USD recorded in 2018, according to the Directorate of Fisheries under the Ministry of Agriculture and Rural Development (MARD).
Vietnam’s shrimp exports to the Republic of Korea are likely to rise 30 percent year on year to approximately 500 million USD in 2019, the Vietnam Association of Seafood Exporters and Producers (VASEP) has predicted.
Vietnam’s shrimp exports are expected to grow this year to a value of more than 4 billion USD thanks to free trade agreements, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The southern coastal province of Bac Lieu has made shrimp farming one of the five pillars for local socio-economic development with the goal of raising shrimp export revenue to 1 billion USD by 2025.
Developing concentrated aquaculture areas, strengthening linkages among stakeholders, optimising costs, increasing the use of technology, and building brands are among the measures that would add value to the aquaculture sector, according to the Directorate of Fisheries.
The People’s Committee of the Mekong Delta province of Tra Vinh has approved a plan to invest 2.3 billion VND (100,000 USD) to protect intensive and semi-intensive shrimp farms from disease.
Various challenges face Vietnam’s shrimp exports to the US, as aside from high anti-dumping duties, Vietnamese businesses have to tackle harsh policies the US uses to protect domestic production.
Bac Lieu has rejected a project to build Cai Cung thermal power plant, saying that it wants to become a national centre of renewable energy and a large producer of shrimp farming.
To achieve the target of 10 billion dollars in 2025, Vietnam's shrimp sector is witnessing drastic changes in various fields, while gradually building its trademark amidst fierce global competition.
The Vietnam Association of Seafood Exporters and Processors (VASEP) has projected shrimp exports to continue gathering momentum this year, particularly in the EU and China.
Vietnam’s seafood export turnover is expected to reach 8.3 billion USD this year, posting an 18 percent increase over 2016, according to the Vietnam Association of Seafood Exporters and Producers.
Ca Mau aims to seek more export markets for its shrimp products through intensifying trade promotion activities as an effort to realise the locality’s export target of 1.1 billion USD in 2017.
Vietnam earned 1.56 billion USD from shrimp exports in the first half of this year, up 15.7 percent annually, according to the Vietnam Association of Seafood Exporters and Processors (VASEP).
A roundtable dialogue on increasing added value of Vietnamese shrimps took place in the Mekong Delta city of Can Tho on June 21with the participation of more than 100 businesspeople and farmers in the region.
Vietnam’s shrimp exports to Japan in the first quarter of this year increased by 29.6 percent year-on-year to reach 135.4 million USD, making Japan the country’s largest shrimp importer.
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