01:21 (GMT +7) - Wednesday 13/12/2017

Vietnam Today

Export value from shrimp expected to reach $10 billion by 2025

Released at: 14:20, 08/02/2017

Export value from shrimp expected to reach $10 billion by 2025

Photo: VGP

The target is not that ambitious thanks to new shrimp breeding methods and more investments from businesses.

by Hai Van

At a meeting held in the Mekong delta province of Ca Mau on February 6, Prime Minister Nguyen Xuan Phuc asked the Ministry of Agriculture and Rural Development (MARD) to target raising the shrimp export value to US$10 billion by 2025 instead of 2030 as originally planned by the ministry.

The meeting attracted, among others, senior officials from the MARD and local administrations, and 50 shrimp processing companies from 28 provinces and cities nationwide.

The PM delivered a number of measures for participating delegates to discuss and propose mechanisms and polices that will take advantage of Vietnam's conditions for shrimp breeding.

The government leader stated that Vietnam has conditions and advantages to shore up the shrimp sector. “It’s necessary to create solutions to improve shrimp producing,” Mr. Phuc added.

“Before 2025, Vietnam’s shrimp export turnover has to reach $10 billion,” he urged.

Brackish shrimp species are being bred in 30 cities and provinces nationwide. The two main species are giant tiger prawns and white-leg shrimps.

Since 2010, the export value of shrimps has exceeded the figure of $2.1 billion. In 2016, Vietnam exported shrimp to 90 foreign markets and earned $3.15 billion.

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