Fisheries expected to become major production industry

Vietnam aims to develop its fisheries sector into a large commodity production industry with competitive capacity and responsible and sustainable integration in line with international institutions, contributing to improving incomes for industry workers.

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According to the Vietnam fisheries development strategy to 2030 and vision to 2045, the aquaculture economy is to account for 30 percent of GDP in agro-forestry-fisheries.

The total output of domestically produced aquatic products is to reach 10 million tonnes, while export value is to hit 18-20 billion USD. The strategy also aims to generate over 3.5 million jobs.

According to the Directorate of Fisheries, nearly 620 million USD was allocated to 148 projects in the 2016-2020 period.

The sector’s production value grew by an average of 6 percent annually in the 2016-2020 period. Total fisheries output in 2019 reached 8.15 million tonnes.

Meanwhile, export turnover in 2019 hit 8.6 billion USD and is expected to reach 10 billion USD this year./.

VNA