New project targets competitive seafood sector
New project targets competitive seafood sector
The Ministry of Agriculture and Rural Development (MARD) has approved a project to make the seafood sector more competitive with financial support from the State budget, international organisations and businesses.
Worth more than VD102 billion (US$4.47 million), the project’s approval happens in the context of the nation deepening its international integration process, partly by implementing several free trade agreements.
The project will support restructuring of the seafood sector towards improving value added products.
The State Budget will contribute VND40 billion to the project, and the remaining VND62.2 billion will be raised from international organisation and businesses.
The project will focus on checking and supplementing legal documents and regulations on seafood breeding, feeding, processing and packaging for export.
It will also revise and add regulations on the import of seafood to be processed for export, ensuring that they meet international standards.
Additional regulations on certificates of origin, responsibilities of preservation, processing and export consumption, as well as a "one-door" customs policy will be formulated under the project.
The project will also help the sector strengthen international co-operation towards enhancing management and integration capacities.
It is also expected to attract foreign direct investment for developing freshwater, brackish water and saline-water aquaculture in the country by producing high-quality seafood breeds and probiotics to treat water used for aquaculture, as well as feed for every kind of seafood.
It will promote further development of offshore fishing with more modern equipment and new offshore fishing vessels, apart from upgrading the existing fleet with modern equipment and proper fishing tools.
The project will further support the building of a national brand for key export seafood products, including shrimp, tra fish and tuna.
