VND61 trillion needed to develop the nation’s fisheries

June 23, 2012 | 09:17
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Vietnam’s fishery sector requires nearly VND61 trillion to implement its development strategy to 2020, claimed participants in a seminar in Hanoi on June 22.

Of this figure, VND30 trillion will be allocated to aquaculture breeding activities;VND24.2 trillion to seafood processing which will see the introduction of modern technologies; and VND6.6 trillion to seafood exploitation to develop off-shore fishing.

Deputy Minister of Agriculture and Rural Development, Vu Van Tam, emphasised that the fishery sector should focus on developing a national brand and becoming more competitive in the global market.

It is also essential to establish large fishing centres and key breeding areas, he added.

According to the sector’s zoning plan by 2020, total product output will reach 2.4 million tonnes, projecting an annual growth rate of 16-17 per cent. The sector is expected to earn an export revenue of $11 billion in 2020.

To achieve this target, Nguyen Thanh Tung, director of Vietnam's Institute of Fisheries Economics and Planning (VIFEP), stressed the need to apply advanced technologies in aquaculture breeding and post-harvest conservation. Local seafood producers and exporters should increase added values for their products, expand distribution networks and strengthen links with importers while ensuring food hygiene and safety and protecting the environment, he added.


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