The Prime Minister has approved the development strategy for Vietnam's fishing industry that will be completed by 2020.
The Government needs an estimated 57.4 trillion VND (2.9 billion USD) to implement the strategy, according to Decision 1690/QD-TTg.
Under the plan, the fishing industry will be industrialised and developed to increase output, improve quality, and enhance the competitiveness.
The plan aims to improve fishermen's living standards, protect the country's environment and secure the country's coastline.
This strategy aims to increase production by 8-10 percent per year and to export 6.5-7 million tonnes of seafood worth 8-9 billion USD by 2020.
Vietnam will focus on developing freshwater fish, molluscs, sea fish, shrimp and crab sectors in the Red River Delta. The country will also work to improve the tra fish and shrimp sectors in the East Sea and the southern region so that the products are congruent with Global GAP standards.
Plants will also be built in central Vietnam to produce feed that will sell domestically and in ASEAN.
The country will cooperate with ASEAN countries to develop the fishing industry, according to the strategy.
Vietnam expects to earn 4.5 billion USD in seafood exports this year. The country earned 2.9 billion USD from seafood exports during the first eight months of the year./.