PM sets target for shrimp export by 2025

PM Nguyen Xuan Phuc asked the Ministry of Agriculture and Rural Development to set the target of raising the shrimp export value to US$10 billion by 2025.

PM Nguyen Xuan Phuc asked the Ministry of Agriculture and Rural Development (MARD) to set the target of raising the shrimp export value to US$10 billion by 2025.

The PM and Deputy PM Trinh Dinh Dung attended a meeting on the development of Vietnam’s shrimp sector in the southernmost province of Ca Mau on February 6.

As the MARD proposed earning US$10 billion from exporting shrimps by 2030, the PM supposed that the figure is still low, demanding the sector fulfill the target by 2025.

The PM delivered a number of measures for participating delegates to discuss and propose mechanisms and polices to take advantages of Vietnam.

The meeting, attracting 50 shrimp processing companies in 28 provinces and cities, was organized to seek ways to develop shrimp production and processing into a key economic sector and respond to climate change in the future.

Brackish shrimp species are being bred in 30 cities and provinces nationwide with two main species of giant tiger prawn and white-leg shrimps.

In 1999, the PM ratified the sustainable aquatic development target program, marking the establishment of new shrimp breeding method and attracting more investment from businesses.

Since 2010, the export value of shrimps has exceeded the figure of US$2.1 billion. In 2016, Viet Nam exported shrimps to 90 markets, gaining US$3.15 billion.