ELEVATING VIETNAM’S AQUACULTURE INDUSTRY

The Vietnam’s aquaculture industry is facing significant opportunities and challenges. With the increasing demand for aquatic products and growing international economic integration, there are many opportunities for Vietnamese enterprises to thrive. However, challenges such as climate change, diseases, and fierce competition from other countries persist.

The Aquaculture Vietnam 2024 Exhibition, taking place from October 9 – 11, 2024, at the Saigon Exhibition and Convention Center (SECC), is a comprehensive destination for Vietnam’s aquaculture industry. It serves as a platform for local and international businesses to network, exchange experiences, and showcase the latest products and services in the aquaculture sector.

The Aquaculture Vietnam 2024 is an event that no business in the aquaculture industry wants to miss. Register today to seize the business development opportunity in Vietnam’s aquaculture sector!

Vietnam – Aquaculture industry at a glance

Achievements

In the context of global economic volatility, Vietnam’s aquaculture industry not only stands firm but also experiences significant breakthroughs, reaffirming its position as a key economic sector of the country. According to the latest figures from the Directorate of Fisheries, the total aquaculture output in 2023 is estimated to reach 9.27 million tons, a slight increase of 2% compared to 2022.

Despite facing numerous challenges from both the environment and the international market, Vietnam’s aquaculture sector continues to achieve significant milestones. By December 2023, the volume of harvested aquatic products reached 3.861 million tons, maintaining the level of 2022. Notably, the output of aquaculture exceeded expectations with over 5.408 million tons, marking a 3.5% increase compared to the 5.224 million tons of the previous year, reflecting the sector’s continuous growth trend.

The aquatic products export turnover in 2023 reached an impressive level of approximately 9.2 billion USD, reaffirming its pivotal role as a key source of foreign exchange for the country.

This industry development not only drives economic growth but also contributes to improving the lives of millions of people, especially in coastal areas and the Mekong Delta region.

The Vietnamese government continues to set strategic objectives and support the aquaculture industry through Decision 339/QD-TTg, aiming to promote its sustainable development, modernization, and adaptation to climate change.

Challenges

Despite achieving significant milestones, Vietnam’s aquaculture sector continues to confront numerous major challenges. Below are some pressing issues that this industry is currently facing:

• The rising sea levels, saltwater intrusion, droughts, and extreme weather phenomena have become disruptive factors for aquaculture activities, significantly reducing both production quantity and quality.
• Dangerous diseases affecting shrimp, fish, and other aquatic species are spreading, causing not only substantial economic losses but also impacting the reputation of Vietnam’s aquaculture industry in the international market.
• Lax control over industrial and agricultural production activities has led to water pollution, resulting in a decline in the quality of breeds and aquatic products.
• Infrastructure for aquaculture activities still has many shortcomings, as outdated technology contributes to the current insufficient productivity and low product quality.
• Importing countries are imposing numerous trade restrictions, demanding high standards for product quality, food safety, and traceability, posing significant challenges for Vietnam’s seafood exports.
• The aquaculture sector is dealing with a shortage of highly skilled and trained young labor, resulting in uneven and inefficient production.
• Vietnam is facing fierce competition with leading seafood exporting countries such as China, India, and Ecuador, necessitating constant improvement in product quality and added value.

These challenges require immediate attention and action from governments, businesses, and the community to ensure the sustainable development of Vietnam’s aquaculture industry in the future.

Vision and development strategy making the breakthrough of Vietnam’s aquaculture industry

Vietnam’s aquaculture sector is presented with a significant opportunity to evolve into a key economic sector. Looking ahead to 2030, the aquaculture industry will develop with a focus on large-scale production integrated with industrialization, modernization, sustainable development, and climate change resilience.

The development strategy for the aquaculture industry until 2030, with a vision towards 2045, has been approved by the Prime Minister. This strategy emphasizes the comprehensive development of aquaculture infrastructure, the application of scientific and technological advancements, the enhancement of human resources, and the refinement of policy mechanisms.

The overall goal is to achieve a domestic aquaculture production output of 9.8 million tons, comprising 7.0 million tons from aquaculture and 2.8 million tons from fisheries.

However, the aquaculture industry also faces numerous challenges, from small-scale farming and difficulties in water quality control to minimizing overfishing to protect aquatic resources.

To achieve sustainability, Vietnam must leverage the advantages of aquaculture while reducing fishing yields. Fostering cooperation and linkages in production, processing, and product consumption is equally important.

The government’s support policies create favorable conditions for aquaculture businesses

Vietnam’s aquaculture industry is benefiting significantly from favorable policies and long-term development strategies of the government.

The Government of Vietnam has issued Decision No. 339/QD-TTg, approving the Aquaculture Development Strategy until 2030, with a vision towards 2045. This strategy prioritizes the development of aquaculture into a large-scale and sustainable economic sector with high competitive advantages and deep international integration.

Furthermore, the government offers a range of incentives, including exemption from natural resources tax for natural seafood exploitation, free registration for fishing vessels, and exemption from license tax for organizations, households, and individuals engaged in aquaculture and fishing activities.

The government also pays attention to establishing mechanisms and policies to promote public-private partnerships, mobilize social resources, and develop models of professional, modern breed production and management. This includes fostering digital transformation and encouraging innovative initiatives in the aquaculture sector.

Aquaculture Vietnam 2024: Paving the way for sustainable development of the aquaculture industry

With Vietnam’s aquaculture industry undergoing continuous expansion and evolution, it is crucial to seek opportunities for connection, learning, and innovation.

The Aquaculture Vietnam 2024, Vietnam’s International Aquaculture Industry Exhibition, will take place from October 9 – 11 at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, promising to be a gathering point for experts, businesses, and investors both domestic and international.

Following the success of the 2023 edition, over 94.4% of exhibitors were satisfied with their experience at the Vietstock 2023 & Aquaculture Vietnam 2023 exhibition, and 95.3% planning to return in 2024. Additionally, 97.9% found new business opportunities and expanded industry relationships.

Aquaculture Vietnam 2024 will attract over 100 exhibitors and 4,000 visitors, providing comprehensive support for the entire value chain in the aquaculture industry, from cultivation and harvesting to processing.

Aquaculture Vietnam 2024 will showcase advanced and sustainable solutions. Businesses can explore new initiatives and connect with potential partners, thereby fostering business growth and enhancing profits. This is an unmissable opportunity for enterprises and individuals interested in Vietnam’s aquaculture sector.

The exhibition will introduce the latest technologies and products in aquaculture, fishing, and seafood processing. This is an opportunity to expand trading opportunities, increase brand awareness, and better understand market insights. Technical seminars will provide valuable knowledge and experience from leading experts, helping businesses stay updated on industry trends and current modern equipment.

Aquaculture Vietnam 2024 goes beyond an opportunity for expanding trade and increasing brand awareness, it is also a place to gain deeper insights into the global aquaculture market and industry trends. This is undoubtedly an event not to be missed for those seeking opportunities and innovation in the aquaculture sector.

Register now to seize the opportunity!

• Reserve your space: https://www.aquafisheriesexpo.com/en/dat-gian-hang/.

————————–

Info box:

CONTACT US:

Exhibiting: Ms. Sophie Nguyen – [email protected]

Group Delegation Support: Ms. Phuong – [email protected]

Marcom Support: Ms. Anita Pham – [email protected]