The Ministry of Agriculture and Rural Development has given nod to a project worth 102.2 billion VND (4.5 million USD) to improve the fisheries sector’s competitiveness.

Processing shrimp for export

Of the total cost, 40 billion VND (1.76 million USD) will be sourced from the State budget, while the rest will come from contributions of businesses and international organisations.

Based on the context of national integration into the global economy and implementation of free trade agreements, the project will support restructuring of the sector towards improving products’ added value.

It is set to focus on checking and supplementing legal documents and regulations on aquacultural farming and processing for export, while revising and adding regulations on the import of aquatic raw products to be processed for export to ensure they meet international standards.

Additional regulations on certificates of origin, responsibilities for preservation, processing, export and consumption, as well as a single-window customs policy will be formulated for the sector under the project.

The project also prioritises the improvement of international cooperation to enhance the sector’s management and integration capacities.

The country will try to attract foreign direct investment for developing freshwater, brackish water and saline-water aquaculture in Vietnam, while producing high-quality aquatic breeds and probiotics to treat water used for aquaculture, as well as feed for every kind of aquatic breed.

It will promote the development of industries serving offshore fishing such as the production of modern fishing equipment and ship building.

The project also aims at improving capacity to deal with internal trade barriers and assisting the building of national brands for key export seafood products, including shrimp, tra fish and tuna.

VNA