The Prime Minister has just approved the Vietnam Aquaculture Development Strategy toward 2020, under which the sector should contribute 30-35 per cent to the total agriculture, aquaculture and forestry GDP in 2020 and its annual growth rate should reach 8-10 per cent.

Under the strategy, aquaculture should mainly be industrialised and modernised by 2020 and develop into a local major sustainable industry that will be suitably organised and have high credit and competitiveness in the global market.

Accordingly, the sector could employ some 5 million workers with an average per capita income 3 times higher than at present.

The strategy also provides directions for the development of specific areas, including: marine resources exploitation and protection; marine-, brackish- , and fresh-water aquaculture; aquatic products processing; ship-building and repairing and logistics.

According to estimates, funding for the strategy realisation mounts to VND 57,400 billion that will be mobilised from the state budgets, businesses, individuals, ODA, FDI and other sources.

Source: DDDN

Translated by Thu Nguyen