Vietnam to become global seafood processing centre
Vietnam is likely to become a global seafood processing centre in the future thanks to its competitive labour cost and increasing number of high-quality processing facilities, an expert has said.
Hanoi (VNA) - Vietnam is likely to become a global seafood processing centre in the future thanks to its competitive labour cost and increasing number of high-quality proc꧙essing facilities, an expert has said.
According to General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP) Truong Dinh Hoe, while many world leading seafood processors are shifting their factories from Europe and China to Vietnam, domestic businesses have increased imports of raw materials for processing for export.
Vietnam has spent nearly 800 million USD importing aquatic materials, mainly shrimp, tuna, cuttlefish, for processing and re-exporting, he said, stressing this shows that the country plays increasingly vital role in the global seafood supply chain.
Vietnam’s seafood enterprises have constantly improved their production capacity by investing in modern technologies, thus increasing the proportion of products with high added value to 50 percent of the total production, with nearly 1,000 kinds.
A number of new products like instant food and pharmaceutical and cosmetic products made of aquatic materials have met the demand of the market.
Thanks to the adoption of new technologies, Vietnam has recorded strong growth of seafood export in both value and volume in recent years. Its products have been shipped to 150 countries and territories worldwide, with key markets being the US, the European Union, Japan, China and the Republic of Korea.
Not only processing traditional aquatic products such as shrimp and tra fish, many enterprises have invested in processing new ones such Alaska fish and salmon for export to hi-end markets. Vietnam is expected to ship about 60,000 tonnes of Alaska fish by 2018.
The country earned 5 billion USD from selling seafood abroad in the last three quarters, a year-on-year increase of 6.1 percent.
Under a strategy to restructure the aquatic sector to 2020, Vietnam will reduce facilities turning out semi-processed products, while encouraging the application of modern technologies to improve product quality.
The strategy also aims to increase the proportion of instant and high added value products to between 60-70 percent, towards meeting demands of various markets.-VNA
Vietnam’s agro-fishery-forestry product exports during the first ten months of this year were estimated at 24.61 billion USD, a year-on-year decrease of 3.8 percent.
The country's seafood exports fell to an estimated 6.72 billion USD in 2015, down 14.3 percent over 2014 and 10.4 percent compared with this year's target.
The total agro-forestry-fishery export turnover in the first five months of this year is estimated to reach 12.18 billion USD, a year-on-year increase of 4.9 percent.
Exports of Vietnamese seafood products to the Republic of Korea are expected to increase strongly this year thanks to the free trade agreement between the two countries that took effect last December.
Vietnam’s seafood export turnover in July reached 564 million USD, a drop of 2.2 percent over June, pushing the total figure in the first seven months of this year to 3.65 billion USD.
Prime Minister Nguyen Xuan Phuc has given a nod to the Mekong Delta province of Bac Lieu to set up a high-tech agriculture zone aiming to make shrimp breeding a locomotive of the local agriculture.
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Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
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While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
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According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
Processing tra fish for export (Source: VNA)
