(VOVWORLD) - The revenue from seafood exports surpassed 4.1 billion USD in the first five months of the year – 15% more than in the same period last year – making the sector one of Vietnam’s best in export performance.
 (Illustrative photo: VOV) |
China, the US, and Japan are Vietnam's biggest seafood importers in the reviewed period. All set record growth rates between 11 and 61%. Europe and the Middle East also increased their import of Vietnamese seafood. Vietnam needs to earn an additional 7 billion USD to reach its goal of 11 billion USD in seafood exports this year.
To stay on track, seafood processing factories have been stepping up production. Minh Phu Seafood Corporation in Ca Mau is set to earn 600 million USD from shrimp exports this year. The Vietnam Clean Seafood Corporation has invested in deep processing while also taking advantage of free trade agreements to boost exports.
"The European Union has lowered tariff rates, creating favorable conditions for Vietnam’s shrimp exports. We hope the Government will continue to sign more bilateral trade agreements, especially with the US," said Vo Van Phuc, General Director of the Vietnam Clean Seafood Corporation.
With many promotional events and festivals to be held in the second half of the year, it is forecast to be a booming period for the seafood industry.
"We must diversify our export markets to avoid over-reliance on a single one. Expanding exports also means scaling up production," said Ho Van Mung, Chairman of the People’s Committee of An Giang province, one of Vietnam’s largest seafood exporters.
In order to meet this year’s export target of 11 billion USD, seafood factories will continue to diversify markets, maintain growth, and increase the added value of Vietnamese seafood products.