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 employee incomes.

According to the Vietnam fisheries development strategy to 2030 and vision to 2045, the aquaculture economy is to account for 30% 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 US$18-20 billion.

The strategy also aims to generate over 3.5 million jobs.

At a conference held in the Mekong Delta city of Can Tho on October 26, the Ministry of Agriculture and Rural Development collected opinions from participants on the 4th draft on the strategy.

Delegates also reviewed the implementation of the national target programme on sustainable aquaculture development in 2016-2020.

According to the Directorate of Fisheries, over VND14.47 trillion (over US$619.6 million) was allocated to 148 projects in the 2016-2020 period, including 21 fishing ports, 45 anchorage areas, 65 concentrated cultivation areas, and 15 breeding production centres.

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

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

The directorate, however, said investment allocation has met just 33% of needs, while post-investment management has remained ineffective.

According to Deputy Minister of Agriculture and Rural Development Phung Duc Tien, the sector still boasts great potential for development, so in the coming time it is necessary to cut exploitation output, strengthen conservation, and promote marine farming towards sustainable fisheries development and the removal of the European Commission (EC)’s “yellow card” over illegal, unreported, and unregulated (IUU) fishing.