Seafood industry hits $10 billion export target

According to VASEP, despite a challenging year, Vietnam’s seafood sector demonstrated creativity and adaptability, achieving a remarkable export value of USD 10 billion, an increase of 12.7% from 2023. Key product categories saw significant growth: shrimp exports reached USD 4 billion, up 16.7%; tuna exports approached USD 1 billion, up 17%; and pangasius exports hit USD 2 billion, up 9.6%.

These achievements, she noted, reflect the industry’s progress toward sustainable development and its focus on enhancing product value.

Vietnamese seafood enterprises have increasingly embraced advanced technologies in farming and processing, which has improved productivity and product quality while expanding export markets. These advancements have solidified Vietnam’s standing in the global seafood market, boosting its international competitiveness.

At the event, Deputy Minister of Agriculture and Rural Development Phung Duc Tien praised VASEP’s role in coordinating with government agencies, fostering collaboration among businesses, and connecting with farmers and fishermen to ensure raw material supplies.

He also acknowledged VASEP’s proactive efforts in improving product quality, expanding markets, fostering trade, and addressing challenges related to policies and market conditions.

“With determination and innovation, I am confident that Vietnam’s seafood industry will achieve its $11 billion export target by 2025, supported by improved raw material supplies and expanded market opportunities. Enhancing product quality and corporate reputation will help increase market share and strengthen Vietnam’s global seafood presence,” Phung Duc Tien stated.

Deputy Minister of Foreign Affairs Nguyen Minh Hang emphasized that the seafood industry is a leading agricultural export sector, highly competitive and at the forefront of green transition and sustainable development. However, the industry still has substantial room for growth. The Food and Agriculture Organization (FAO) estimates the global seafood market to be nearly $180 billion, with strong growth potential, presenting opportunities for Vietnam to set higher targets beyond USD 10 billion.

“The Ministry of Foreign Affairs remains committed to supporting VASEP and seafood enterprises in their development efforts. This includes enhancing economic diplomacy, expanding and diversifying export markets to new regions such as the Middle East and Latin America, and addressing trade barriers, such as resolving the IUU yellow card and anti-dumping challenges. Additionally, we aim to promote financial and technical cooperation, focusing on transformative and scalable projects to drive breakthroughs in the industry,” Nguyen Minh Hang affirmed.

VFM