Việt Nam to develop sustainable aquaculture with export revenues of US$12 bln by 2030

Việt Nam to develop sustainable aquaculture with export revenues of US$12 bln by 2030

By 2030, aquaculture production is expected to reach 7 million tons with export revenue of US$12 billion per year, while the growth rate of aquaculture value is expected to reach an average of more than 4.5 per cent a year.
Update: (2/27/2023)

A national programme has been approved to develop effective and sustainable aquaculture while proactively adapting to climate change.

Under the programme, which was approved by Prime Minister Phạm Minh Chính and runs until 2030, the country aims to improve productivity, quality, value and competitiveness of aquatic products and meet the requirements of domestic and export markets.

By 2030, aquaculture production is expected to reach seven million tonnes with export revenue of US$12 billion per year, while the growth rate of aquaculture value is expected to reach an average of 4.5 per cent a year.

In the next eight years, more than 50 aquaculture areas and concentrated seed production zones will receive investment while essential infrastructure will be upgraded to meet production requirements.

Over the years, Việt Nam has built a value chain of pangasius. So far, it has been effective and has set the goal that by 2030, Việt Nam will actively produce and supply more than 70 per cent of the demand for tiger prawn and white-leg shrimp and 100 per cent selected brood stock. At the same time, it will improve the quality of breeding aquatic species with high economic value and large volume of commodity products.

Việt Nam has also invested in upgrading aquaculture infrastructure, at the same time developing production systems, supplying materials and aquaculture supporting industries.

Currently, the Ministry of Agriculture and Rural Development is developing a decree on a number of policies on fisheries development, implementing mechanisms and policies on infrastructure investment in seed production and aquaculture development. The central budget will invest 100 per cent of funds to build essential infrastructure in concentrated aquaculture areas, marine aquaculture areas, and concentrated aquatic seed production areas for marine aquaculture.

The national programme is an important step to develop from small-scale fisheries to large, sustainable commodity production and an indispensable trend with Việt Nam aiming to be one of the leading seafood production and processing centres in the region and world.

Overcoming numerous challenges, in 2022 Việt Nam's seafood industry saw many positive signals, as all targets have exceeded set levels. In particular, the export value reached a record level in history - reaching the milestone of nearly $11 billion, up 23.8 per cent over the same period in 2021.

To date, the marine farming area has reached about nine million sq.m in cages, while aquaculture production has reached 5.19 million tonnes, an increase of 7 per cent compared to 2021 and also an all-time record high.

Source: VNS