363 million USD project proposed for sustainable fisheries development

A proposed project for sustainable fisheries development was discussed at a conference held by the Ministry of Agriculture and Rural Development on August 5.

363 million usd project proposed for sustainable fisheries development hinh 0
At the event (Photo: VNA)

The project would have a total investment of nearly 8.36 trillion VND (363 million USD), of which 6.6 trillion VND would be funded by World Bank loans, 138 billion VND by non-refundable aid from the Global Environment Facility (GEF), and 1.61 trillion VND by the Vietnamese side. 

The project, to be implemented from 2021 to 2026, is designed to address difficulties and challenges facing the fishing industry and brackish shrimp farming through enhancing management capacity of the fisheries sector and raising the value of fisheries products.  

It is expected to increase income and living conditions for millions of labourers in the fisheries sector and those working in related industries. 

The scheme will build facilities and provide equipment for the fisheries surveillance force, improve infrastructure for breeding shrimp production, and intensify the combat against illegal, unreported and unregulated (IUU) fishing. 

Under the project, research will be conducted to reduce post-fishing losses, prevent diseases and raise productivity of shrimp farming while ensuring environmental protection and resilience in climate change. 

Localities participating in the project would build modern fishing ports, establish large-scale fisheries centres to support off-shore fishing, and upgrade infrastructure for concentrated shrimp farming areas. 

VNA

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