VIETNAM’S AQUACULTURE INDUSTRY UNLOCKING POTENTIAL, MOVING TOWARDS SUSTAINABILITY
The aquaculture industry is striving to become one of the key commodity production sectors in Vietnam. This remarkable success is due to significant advantages in natural conditions, breakthroughs in science and technology, along effective government directions towards sustainable industry development.
Immense potential and advantages of Vietnam’s aquaculture industry
Vietnam’s aquaculture industry has achieved remarkable milestones, largely driven by its exceptional natural advantages, science and technology breakthroughs, and the advancements in high-quality seed development.
Vietnam boasts a 3,260km coastline stretching from North to South, with a marine area of approximately 1 million km2. It is complemented by a large network of rivers and canals, creating favorable conditions for the diverse development of aquaculture methods.
During the period of 2018 – 2022, Vietnam’s aquaculture sector has successfully developed 56 processes, which utilizecutting-edge technologies for aquaculture, breed production, manufacturing aquatic feed, etc.
In terms of aquaculture technology, Vietnam has implemented advanced farming systems, such as recirculating aquaculture systems (RAS), integrated multi-trophic aquaculture (IMTA), and intensive aquaculture techniques. These advancements have contributed to improved water quality, reduced waste generation, and enhanced productivity in aquaculture activities.
The industry also focuses on developing specialized feed formulations, which are tailored to the specific nutritional needs of each aquaculture species, aiming to improve growth efficiency and optimize feed conversion rates for aquatic livestock.
The most notable breakthrough was the development of breeds. Scientists have successfully developed 23 fish and shrimp breeds with superior quality, characterized by rapid growth rates and high disease resistance. Additionally, breeding technologies for key aquaculture species have been improved, capable of satisfying domestic production demands.
Furthermore, Vietnam has made significant strides in producing various types of bio-products, effectively employing them to enhance water quality in aquaculture ponds, prevent diseases, and promote the growth of breeds.
The wave of success of Vietnam’s aquaculture industry
The aquaculture industry is recognized as one of Vietnam’s leading economic sectors, contributing a significant 4-5% to the nation’s GDP. Looking back at the past few years, Vietnam’s aquaculture sector has achieved remarkable milestones, firmly establishing its position on the global market.
Aquaculture production has witnessed a continuous upswing, with an average annual growth rate of 12.77%. This consistent growth has brought Vietnam onto the world stage as one of the leading aquaculture producers, ranking fourth globally in terms of aquaculture output – according to Mr. Tran Dinh Luan, General Director of the Department of Fisheries.
In the period 2018 – 2023, aquaculture production experienced a significant 31% surge, rising from 4.1 million tons to 5.4 million tons. As of 2023, the aquaculture area also expanded to an impressive 1.3 million hectares of inland aquaculture area and 9.5 million offshore cages.
Vietnam proudly stands as the third-largest seafood exporter globally, trailing only behind two industry giants – China and Norway, with an export turnover of $9.2 billion in 2023 – according to Mr. Phung Duc Tien, Deputy Minister of Agriculture and Rural Development.
Vietnam’s aquatic product exports continued to show impressive growth in the first three months of 2024. The export turnover reaching $1.9 billion, increase 2% compared to the same period in 2023.
As the world’s second-largest shrimp supplier, Vietnam commands a significant 13-14% share of the global shrimp export market. Specifically, Vietnam’s shrimp has graced the tables of consumers in over 100 countries and territories. Moreover, Vietnam takes pride in being the world’s largest exporter of pangasius.
Paving the way for sustainable aquaculture
Against the backdrop of depleted natural aquatic resources, Vietnam’s aquaculture industry has identified sustainable development as its top priority. To achieve this goal, the industry is currently focusing on three key development strategies: reducing exploitation, increasing aquaculture, and conserving marine ecosystems.
To mitigate the intensity of fishing activities, the expansion of aquaculture, particularly marine aquaculture, is crucial. With over 1 million square kilometers of marine area, Vietnam possesses immense potential for marine aquaculture development. However, the current marine aquaculture area accounts for only 20% of the total aquaculture area nationwide.
To fully harness this potential, the Prime Minister has issued Decision 1664/QĐ-TTg, approving the Project on marine aquaculture development until 2030, with a vision towards 2045.
The project sets ambitious targets for 2030, aiming to reach a marine aquaculture area of 300,000 hectares, along with 12 million cubic meters of cages. Moreover, the targeted production is 1.45 million tons, with an export turnover reaching 1.8 – 2 billion USD.
Seize the opportunity for sustainable development in the aquaculture industry at Aquaculture Vietnam 2024
The Aquaculture Vietnam 2024 exhibition is a comprehensive destination for the aquaculture industry, bringing together over 100 exhibitors and 4,000 visitors from more than 20 countries/ territories.
This is the perfect event for businesses in the aquaculture industry to directly connect with a large number of potential customers and partners. This is also an opportunity for businesses to access specialized knowledge, stay updated on cutting-edge sustainable solutions and technologies in the aquaculture industry, offered through technical seminars at the exhibition.
Aquaculture Vietnam 2024 will be held concurrently with Vietstock 2024 exhibition – Vietnam’s Premier International Feed, Livestock, Aquaculture & Meat Industry Show – from October 9 – 11 at SECC, District 7, Ho Chi Minh City, Vietnam.
Looking for a way to develop your business sustainably? Reserve your space now!
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Exhibiting: Ms. Sophie Nguyen – [email protected]
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