PM approves fishing industry strategy

The Prime Minister has approved the development strategy for Vietnam's fishing industry that will be completed by 2020.

The Government needs an estimated VND 57.4 trillion (US$2.9 billion) to implement the strategy, according to Decision 1690/QD-TTg.

Under the strategy, the fishing industry will be industrialised and developed to increase output, improve quality, and enhance the competitiveness.

The plan aims to improve fishermen's living standards, protect the country's environment and secure the country's coastline.

This strategy aims to increase production by 8-10% per year and to export 6.5-7 million tonnes of seafood worth US$8 - 9 billion by 2020.

Vietnam will focus on developing freshwater fish, molluscs, sea fish, shrimp and crab sectors in the Red River Delta. The country will also work to improve the tra fish and shrimp sectors in the East Sea and the southern region so that the products are congruent with Global GAP standards. Plants will also be built in the central region to produce feed that will sell domestically and in ASEAN.

The country will co-operate with ASEAN countries to develop the fishing industry, according to the strategy.

Vietnam expects to earn US$4.5 billion in seafood exports this year. (VNA)