Vietnam's shrimp sector still has strong potential for growth

ABO/NDO- Vietnam still has plenty of room for growth in brackish-water shrimp farming thanks to growing demand in major markets with which Vietnam has signed free trade agreements.

The statement was made by experts at a forum on brackish-water shrimp farming development held in Ho Chi Minh City on July 21.

Vietnam is currently exporting shrimp to about 100 countries and territories worldwide and is the second largest shrimp supplier with a global share of 13-14%.

Harvesting shrimps in Ben Tre Province.

Last year, Vietnam’s shrimp exports posted a record 4.3 billion USD, up 11.2% from the previous year. Key markets for Vietnamese shrimp include Europe, the US, Japan, China and the Republic of Korea.

According to experts, Vietnam has great potential in terms of farming area, favourable weather and abundant water sources for brackish-water shrimp farming.

In addition, the export markets for shrimp are also expanding as Vietnam has inked various free trade pacts with major world economies.

To tap into the advantages, experts have suggested that shrimp farmers and exporters need to step up the application of advanced technology in the shrimp production chain.

It is also necessary to create connectivity and follow standard practices in shrimp farming to enhance the quality and competitiveness of Vietnamese shrimp in the international market.

(Source: NDO)