Amid many new challenges from fishing ground and price, the tuna fishing industry in Vietnam is facing many difficulties.

Vietnam's aquatic product exports are forecast to rake in 8.4 billion USD this year, equivalent to the figure in 2020, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

A recent report from Viet Dragon Securities Corporation (VDSC) said that the social distancing order in Vietnam will negatively affect the supply of processed seafood in the last six months of the year due to reduced operating capacity at factories.

Minh Phu Seafood Joint Stock Company (JSC) has opposed the US Customs and Border Protection (CBP)’s application of anti-dumping tariffs on its frozen shrimp exports.

The seafood industry is making all-out efforts to meet this year’s U$$10 billion export target whilst dealing with recommendations from the European Commission (EC)

Shrimp exports to Australia increased strongly in 2019, expanding at a two-digit growth rate, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Vietnam has carried out comprehensive measures as recommended by the European Commission to remove a “yellow card” warning from the commission on Vietnamese seafood.

Vietnam has huge potential for ocean aquaculture but the lack of a proper development plan, preferential policies and application of high technology has hindered its development.

The US was the largest importer of Vietnam in the first seven months of 2019 with a turnover of 32.5 billion USD, a year-on-year surge of 25.4 percent, according to the Ministry of Industry and Trade.

MPM Investments Pte Ltd, a subsidiary of Japan’s Mitsui & Co Ltd, has acquired 60 million shares in Minh Phu Seafood Joint Stock Company (MPC) to raise its stake in the Vietnamese shrimp processor to 35.1 percent.