VND57.4 trillion to develop Vietnamese seafood

A strategy implementation meeting for the Vietnamese seafood sector until 2020 was held by the General Fisheries Office in Hanoi on October 14.

The strategy ratified by the Prime Minister last month, calls for the Ministry to receive VND57.4 trillion from the state budget, businesses, farmers, official development assistance (ODA), foreign direct investment (FDI), and other capital sources.

It will support specific projects like raising anabas, aquaculture management, creating a fishing co-operative union, building fishing villages in coastal areas and islands.

Deputy Minister of Agriculture and Rural Development Nguyen Van Tam stressed the importance of the strategy as a guideline for making seafood an export industry with a prestigious brand name and high competitiveness in the world market.

However, he said the ministry should work out appropriate steps for turning the strategy into actual economic results.

The seafood industry is expected to contribute about 30-35 percent of the total GDP of agricultural-forestry-fishery products, with an annual growth rate of 8-10 percent by 2020., when the sector will export 6.5 million tonnes of seafood to earn US$8-9 billion and generate jobs for 5 million workers.

The average income for industry workers will be 300 percent higher by 2020.

Deputy Head of the General Fisheries Office Chu Tien Vinh said that to achieve these goals, the seafood sector will focus on restructuring its production.

The sector will concentrate on sea exploration, breeding shrimps in brackish water, and raising tra and basa fish.

The sector will attract investment, develop models of economic cooperation and continue to implement trade promotion campaigns to maintain and expand its important traditional markets in the EU, Japan, and the US, while simultaneously penetrating new markets such as Eastern Europe, the Middle East, China, and the RoK. – VOV

Tags: ,

Posted by VBN on Oct 15 2010. Filed under Sea food. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

You must be logged in to post a comment Login

Stay informed everyday

Subscribe to free RSS and email updates from Vietnam Business News

Subscribe via Email Subscribe in a Reader Follow us on Twitter Connect on Facebook

RSS China Business News

  • Gold Ends Higher, Dips On Bernanke Speech
  • Gold up after Bernanke’s dim view
  • Gold gained for the first time in three days after U.S. jobless claims unexpectedly rise
  • Stocks close down from opening highs
  • Investors cautious over economic data
  • Accord to lift gas supply sealed
  • CNPC To Sell Bonds
  • Pang Da’s Shares Tumble On Saab’s Bankruptcy Move

Sponsored

Looking for an overseas forex broker?