Vietnam's fisheries exports expected to reach over US$10 billion this year

ABO/NDO - It is forecasted that Vietnam's fisheries export revenue is expected to hit US$10 billion in 2019.

Processing Tra fish for export (Photo: VNA)

Nguyen Ngoc Oai, Acting Director of the General Department of Fisheries under the Ministry of Agriculture and Rural Development made the statement at a conference held in Hanoi on July 4 to review the performance of the sector in the first half of the year and deploy tasks for the second half of the year.

Over the last few months the fisheries sector has set a number of key targets including export revenue recording over US$10.5 billion; and the GDP growth rate and production value growth rate reaching 4.65% and 4.69%, respectively, Oai said, adding that the sector will also focus on devising measures to overcome the European Commission’s yellow card on illegal, unreported and unregulated fishing.

Some delegates at the conference proposed that in order to improve the quality of seafood exports, businesses should focus on building brands for high-quality products while promoting the processing of products with high added value and reduce the amount of waste created in the process.

In addition, the fisheries sector also needs to invest more in technology and make the best possible use of raw materials.

Vietnam’s fishery exports were estimated to reach US$4 billion in the first six months of the year. The volume of Vietnam's aquatic products reached 3.79 million tonnes, an increase of 6.2% compared to the same period last year.

(Source: NDO)