Tien ip menu5/18/2023 ![]() Namely, a yellow card was issued in October of 2017 to the Southeast Asian nation. (Source: VASEP) Challenges posed by illegal, unreported, and unregulated fishing (IUU)ĭespite a large increase in seafood exports to the European Union in 2021, Vietnam’s aquaculture sector is facing a key challenge from the bloc. Vietnam’s top seafood export markets in 2022 Market These two aquacultural products accounted for more than half of Vietnam’s total seafood exports, in 2022. Shrimp and pangasius were Vietnam’s two biggest seafood exports, reaching US$4.3 billion and US$2.4 billion, respectively. As a result, Vietnam’s total seafood export hit a new record with turnover worth US$11 billion for the year. Source: General Headquarters of Fisheries, General Statistics Officeĭue to the sharp increase in key exports, such as pangasius, black tiger shrimp, and whiteleg shrimp, Vietnam’s aquaculture output in 2022 reached an estimated 5.1 million tons, up 6.3 percent over 2021. Vietnam’s key aquaculture outputs by year Year As of 2021, the Mekong Delta was home to about 70 percent of a total of 1.1 million hectares of aquaculture in Vietnam. In particular, this region accounts for about 95 percent of total pangasius production and 80 percent of shrimp production. Vietnam’s seafood production and exports are divided into six key regions: the North Central Coast, the Central Coast, the South Central Coast, the Southeast, the Mekong Delta, and the inland provinces.Īccording to VASEP, the bulk of Vietnam’s aquaculture exports come from the Mekong Delta. ![]() As Vietnam’s aquaculture industry grows, it is expected that demand for these key materials will as well, giving foreign firms further room to expand. ![]() These are ambitious goals and reaching them will take huge amounts of investment, including from foreign firms.Ĭurrently, foreign direct investment (FDI) in this space is primarily in animal feed and the supply of seeds. VN Express has reported that Vietnam expects to rake in between US$800,000 and US$1 billion worth of aquaculture exports by 2025.īy some estimates, this industry may also contribute more than 25 percent of the total output of fisheries in Vietnam and exceed US$4 billion worth of exports by 2045. Read on to discover where these opportunities lie. If it is successful, this may produce more opportunities for foreign firms to participate in this field than ever before. Vietnam wants to turn aquaculture into the ‘spearhead’ of its fishing industry.
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