Fisheries expected to become major production industry

Vietnam aims to develop its fisheries sector into a large commodity production industry with competitive capacity and responsible and sustainable integration in line with international institutions, contributing to improving incomes for industry workers.

 

According to the Vietnam fisheries development strategy to 2030 and vision to 2045, the aquaculture economy is to account for 30 percent of GDP in agro-forestry-fisheries.

The total output of domestically produced aquatic products is to reach 10 million tonnes, while export value is to hit 18-20 billion USD. The strategy also aims to generate over 3.5 million jobs.

According to the Directorate of Fisheries, nearly 620 million USD was allocated to 148 projects in the 2016-2020 period.

The sector’s production value grew by an average of 6 percent annually in the 2016-2020 period. Total fisheries output in 2019 reached 8.15 million tonnes.

Meanwhile, export turnover in 2019 hit 8.6 billion USD and is expected to reach 10 billion USD this year./.

VNA