GENERAL INFORMATION

In Vietnam, the fishery sector plays an important role in the national economy, accounting for about 4-5 percent of Gross Domestic Product (GDP) and about 9-10% of national export revenue.

More than 4 millions of people working in the fishery and the growth in production have attributed to the fish exports. Thanks to strongly increase in many years, Vietnam ranks among the top ten seafood suppliers and its seafood products are exported to 170 markets in the world.

Shrimp, pangasius, tuna, squid and octopus are main seafood products exported by the country. In which, shrimp exports create about US$ 3.5 – 4 billion, make up 46-50% of the total seafood sales of Vietnam. Earnings from pangasius reached at US$ 1.7 – 1.8 billion (25% of the total) and exports from Tuna and Cephalopods are US$ 450 – 550 million for each.

Exports to the U.S, Japan, EU, China and South Korea make up 75% of Vietnam’s seafood sales to the wolrd.

5 advantages for Vietnam seafood exports:  

(1)  High commitment and participation from Government, Industry and companies for food safety, environment  and social responsibility;

(2)  Able to supply the big volume and safe quality and stable seafood products;

(3)  Meet all the customers’ requirements, incl. the vertical linkage (integration) for each species sector;

(4)  Vietnam is one in few countries in the world which has the good and stable labor resource; 

(5)  Vietnam has Agreements / FTAs with many countries and territories and has advantages both in product quality and im-ex tax.  

Export potentials

Dong Thap Province Creating a large-scale specialized production area for pangasius farming
08:42 05/27/2022

(seafood.vasep.com.vn) Businesses in Khanh Hoa province are increasing the purchase of tuna for processing to export to the US and EU markets.

(seafood.vasep.com.vn) The report on Vietnam's seafood exports - a quarterly publication of VASEP, reflects a full and detailed picture of seafood production and export in general and each fishery industry in particular (including: shrimp, catfish, tuna, cephalopods, shellfish, crabs, surimi...).

(VAN) An Giang province aims to create a breakthrough for the pangasius industry by attracting high-tech investment in production and processing.

(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam tuna exports in March 2022 continued to grow well at 58% y-o-y, reaching 104 million USD, bringing the total tuna export value in the first 3 months of this year to the highest level in the past 5 years.

(seafood.vasep.com.vn) In the last week of April 2022, 28 seafood enterprises, including 9 pangasius exporters set out to attend the 2022 Seafood Expo Global in Barcelona (Fira Barcelona Gran Via, Spain). This is an opportunity for pangasius enterprises to directly meet customers from countries around the world and the EU after more than 3 years of Covid-19 disrupting the seafood trade.

(seafood.vasep.com.vn) Cuu Long Fish Joint Stock Company (CL-FISH CORP) reported a net profit of nearly 6 times that of the same period last year, at VND 71 billion.

(seafood.vasep.com.vn) In March 2022, the total exports of Vietnam's caught marine products reached over 355 million USD, up 17% over the same period in 2021. In the first 3 months of 2022, exports of these products reached over 920 million USD, up 26% over the same period last year. Currently, exports of marine products account for 36% of the country's total seafood export value.

(seafood.vasep.com.vn) According to the General Department of Vietnam Customs, in the first three months of 2022, seafood exports reached 307 thousand tons, 2.5 billion USD, up 18.5% in volume and 38.7% in value over the same period in 2021...

(seafood.vasep.com.vn) NAVICO will enter the real estate segment and start exporting pangasius products to the US market, which is expected to bring in great revenue and profit for the company.

(seafood.vasep.com.vn) The new factory of IDI Corp with a capacity of 500 tons/day is expected to be built in the fourth quarter of 2022. Currently, IDI Corp has two factories with the capacity of 150 tons/day and 300 tons/day, respectively. The factories have been operating at full capacity but have not yet met customer demand in late 2021 and early 2022.

(seafood.vasep.com) Kien Giang Province has used a variety of methods to promote propaganda and encourage fishermen to strictly abide by anti-IUU regulation.

(seafood.vasep.com.vn) In 2021, Vietnam’s mollusk shells are the only products that were not impacted by the Covid epidemic. The reason is that the majority of raw material production areas are located in the northern provinces - areas less affected by the Covid epidemic. Furthermore, the foreign demand for mollusk shells (mainly clams) is still significant in major markets such as Italy, Portugal, Spain, and the US.

(seafood.vasep.com) Pangasius and shrimp exports of Vietnam have recorded recovery after 2 consecutive years of Covid-19 outbreak. Major markets include US, EU, UK, China…

(seafood.vasep.com) Sao Ta Foods (FMC) plans to pay a dividend of 20% in 2022 (VND2,000/share), equal to the dividend expected to be paid in 2021.

(seafood.vasep.com.vn) After a process of peer-reviewing, the Provincial Council of Science and Technology (including the Department of Science and Technology, the Department of Industry and Trade, the Department of Agriculture and Rural Development) agreed to grant the right to use geographical indications for Ca Mau black tiger shrimp products (1st phase) for 3 enterprises: MINH PHU SEAFOOD Corp, Minh Phu Mangroves shrimp social Enterprise, and Ca Mau Seafood Processing & Service Joint Stock Corporation (CASES).


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