I. OVERVIEW

Land area: 329,560 sq km

Coast line: 3,260 km

EEZ area: 1 million sq. km

Total production in 2020: 8.4 million MT

                Catching : 3.85 million MT

                Aquaculture : 4.56 million MT

Export turnover in 2020: US$8.4 billion,

Labour force: more than 4 millions

In particular, the processing and seafood export sector brings jobs to about 300,000 workers.

Fishery is a key national economic sector:

      9-10% of total export turn over;

      ranks 5th in export value from Vietnam behind telephone, textiles, electronics, and footwear.

      contributes 4-5% of GDP;

One of the top 5 seafood export countries of the world with high export rate to the world's top markets such as the US, EU, Japan

 

II. PRODUCTION 

From 1995 - 2020: Vietnamese fisheries output increased strongly, the output increased more than 6 times, from 1.3 million tons in 1995 to 8.4 million tons in 2020, the average annual growth rate of 8%. In which, aquaculture production accounts for 54%, capture made up 46%.

1. Aquaculture

From 1995-2020: Vietnam aquaculture production increased 11 times, the annual average growth rate of 10%, from 415 thousand tons to nearly 4.6 million tons by 2020.Aquaculture is mainly in the Mekong Delta (accounting for 95% of total pangasius production and 80% of shrimp production).

 

Main aquaculture species in Vietnam

In 2020: farming area of ​​1.3 million ha + 10,000,000 m3 of cage culture (7,500,000 m3 of brackish water cages and 2,500,000 m3 of fresh water);

Farming output of 4.56 million tons. 950,000 tons of farmed shrimp (black tiger shrimp 267.7 thousand tons, whiteleg shrimp 632.3 thousand tons, other shrimp 50,000 tons), Pangasius is 1,560,000 tons.

2. Fishing production

From 1995 to 2020: Fishing output increased more than 4 times, average annual growth rate of 6% from 929 thousand tons to 3.85 million tons.

In 2020: There are 94,572 fishing ships nationwide, including 45,950 fishing boats 6-12m long, 18,425 boats 12-15m long, 27,575 boats 15-24m long, 2,662> 24m long).4,227 fishing teams with 29,588 fishing boats, 179,601 workers at sea.

III. EXPORTS

From 1997-2020: Vietnam's seafood exports increased 11 times, with the average annual growth rate of 10% from 758 million USD in 1997 to 8.4 billion USD in 2020.

 

1. Aquaculture product exports

- Vietnam shrimp exports account for the highest share and most stable growth. From 1998 to 2020: Shrimp export increased 8 times from 457 million USD to 3.73 billion USD; average annual growth rate of 10%. The proportion of total seafood exports is increasing: from 36% to 50%.

- Vietnam pangasius exports increased 162 times from 9.3 million USD to 1.5 billion USD; average annual growth of 26%. However, the proportion decreased from 32% to 18%.

2. Marine product exports

The exports of marine products accounts for 30-35% of the total seafood export of Vietnam.

From 1998 - 2020: Export turnover increases 10 times by 315 million USD to 3.2 billion USD; average annual growth of 11%.

 

 

III. VIETNAM SEAFOOD POTENTIALS

  1. High commitment and participation from Government, Industry and companies for: Food safety, environment & social responsibility. All processing plants apply HACCP, increasing number of farming areas and processing got sustainable certifications such as ASC, GLOBAL GAP, MSC,VietGAP…
  2. More and more attention from Gov , MARD, D-Fish and related state agencies to develop  the industry with high and ambitious targets. (Decision No. 1445/QD-TTg of August 16, 2013, approving the master plan on fisheries development through 2020 with a vision toward 2030 )
  3. Able to supply the big volume and safe, stable quality seafood products thanks to abundant resource (long coastal line, water and farming land area) + big number of seafood companies (600 exporters)
  4. All processors and exporters are private, so they can proactively invest in the seafood sector.
  5. Higher processing technology can create more processed products with high value.
  6. Meet all the customers’ requirements, incl. the vertical linkage (intergration) for each sub- sector.
  7. It was 1 of 3 countries in the World which has the good and stable labor resource.
  8. Has Agreements / FTAs with many countries and territories è advantages both in product quality and im-ex tax. Up to March 2019, Vietnam has participated in 17 Free Trade Agreements (FTAs),  whose countries occupy 90% VN seafood exports,  of which 14 FTAs ​​are signed and effective, accounting for 87% of VN seafood exports  

IV. VIETNAM FISHERIES DEVELOPMENT STRATEGY TO 2030, WITH A VISION TO 2045

On March 11, 2021, the Prime Minister issued PM Decision 339/ QĐ-TTg approving the Vietnam Fisheries Development Strategy to 2030, with a vision to 2045.

Specifically, by 2030, the goals of the fisheries sector include: Growth rate of production value of aquatic products reaching 3.0-4.0%/year; Total domestic seafood production of 9.8 million tons; The seafood export turnover reaching USD 14-16 billion; Creating jobs for over 3.5 million workers, with per capita income of aquatic workers equivalent to the average income of workers nationwide.

In addition, the Government aims to develop seafood processing and trade:

- Developing the seafood processing industry to become a large-scale commodity, playing a key role in leading and promoting the development of seafood production chains in the direction of increasing value-added production and sustainable development; soon turning Vietnam into a global seafood processing center.

- Forming enterprises and corporations as big as giants in the world, producing branded and highly competitive products in the world market.

- Actively integrating internationally, attracting investment, resources and expanding export markets, improving the quality and diversifying processed products for the domestic market.

- Maintaining and developing the market share of Vietnamese seafood in key markets, constantly expanding market share in potential markets ...

- Organizing the circulating production of aquatic products according to the product value chain ...

Original text of the Decision 339/ QĐ-TTg