Vietnams exports of fishery products expected to soar by US$7 bn next decade

CAN THO – The local fishery sector is set to earn an additional US$7 billion in export revenue by 2030 compared to the figure of US$8.6 billion recorded in 2020, according to the sector’s strategic development plan until 2030 with a vision toward 2045.

Employees process tra fish at a local enterprise. The local fishery sector is set to earn an additional US$7 billion in export revenues by 2030 – Photo: Trung Chanh

Under the plan, which has just been approved by Prime Minister Nguyen Xuan Phuc, the country’s total output of fishery products is expected to reach 9.8 million tons during the period, including seven million tons of farming output and 2.8 million tons of fishing output.

Besides this, the sector is looking to offer jobs to over 3.5 million people as of 2030, with the average income of employees in fishery enterprises being on par with that of others nationwide.

Also, the fishery sector will be developed into one of the most important economic sectors in the country and in a sustainable and climate-resilient manner. Further, the sector is positioned to become a modern commercial economic sector and a fishery product deep processing center.

The Government also launched a program prioritizing the implementation of the plan. Specifically, during the 2021-2030 period, the infrastructure and logistics system for the sector will be upgraded.

At the same time, multiple national programs will be rolled out to preserve, protect and renew fishery resources, with an aim to restore fisheries with economic and research values.