Vietnam's fish farming industry is aiming to achieve annual growth of 8-10% until 2015, with export revenue estimated to reach $6.7 billion (€4.7 billion) by 2015 and $8 billion (€5.6 billion) by 2020.
Speaking at a recent conference in HCM City, the former deputy Minister of Fishery, Nguyen Thi Hong Minh, said the Vietnam Fishery Export Development Plan called for the country to develop the fishery sector into a large-scale production sector with high global competitiveness.
By 2015, fishery materials for processing exports is expected to reach3.2-3.5 million tonnes, 2.5-2.6 million tonnes of which will come from local production and the remaining from imports, according to the plan.
In addition, by 2020, all export-processing establishments will meet international regulations on food and environment.
All processing firms will take part in production chains and carry out traces on the product's source.
The industry will also focus on developing the processing industry to raise product value and improve the competitiveness of Vietnamese fishery products.
To achieve the target, the sector plans to maintain the area for tiger shrimp and pangasius farming, as well as improve farming technology to prevent disease and invest more on irrigation systems.
In the coming years, besides seeking new export markets, the industry would maintain the key export markets of the EU, Japan and the US, Minh said.
"The Middle East, North Africa, South Africa and western China are also markets with high potential," said Nguyen Viet Manh from General Department of Seafood.
He also urged local firms to diversify their products in an effort to meet increasing demand from customers both in and outside the country.