Vietnam is projected to rake in $4.5 to $5 billion US dollars from the exportation of shrimp by 2020, according to the Ministry of Agriculture and Rural Development (MARD), on Tuesday.
It said Vietnam would also record an annual average growth of 9.5 to 12 per cent during the 2017 to 2020 period.
A drafted national action plan for shrimp development through 2025 by MARD targets to turn the shrimp sector into a big industry with sustainable development that is adaptable to climate change and friendly to the environment, reported Vietnam’s state-run news agency VNA.
Specifically, in the 2021 to 2025 period, a hi-tech shrimp industry and large-scale eco-shrimp farming areas will be taken into shape in Vietnam, working toward the goals of 10 billion US dollars in export turnover and an annual average growth of 12 to 14 per cent.
The total area used for brackish water shrimp farming should reach 710,000 hectares with a total output of 850,000 tons of shrimp during the 2017 to 2020 period.
These figures are expected to expand to 750,000 hectares and 1.1 million tons of output in the period from 2020 to 2025, VNA said.
Areas will be zoned off for the hi-tech brackish water shrimp raising, concentrating in the country’s Mekong Delta and central coastal regions.
To realise these goals, the MARD pledged to improve irrigation and transport systems at large-scale shrimp farming areas, while encouraging small-scale production facilities to join in cooperatives to create large material production areas.
The ministry will invest in research to produce quality breeding shrimps and develop the domestic feed industry while the application of modern technologies in shrimp farming and processing will be encouraged to ensure food safety and foreign customers’ demands.
In 2017, Vietnam’s shrimp export revenue is expected to go up by 9 per cent year-on-year to hit 3.4 billion U.S. dollars, said the Vietnam Association of Seafood Exporters and Producers. (NAN)