Fisheries sector likely to rake in US$8.4 billion from exports this year
VOV.VN - Vietnam’s seafood exports have encountered difficulties over the past months due to the COVID-19 impact but are expected to grow again in the fourth quarter to generate US$8.4 billion for the whole year as the global market rallies, according to industry insiders.
Nguyen Hoai Nam, deputy secretary general of the the Vietnam Association of Seafood Exporters and Producers (VASEP), told a conference in Hanoi on October 22 that Vietnam earned approximately US$6.2 billion from seafood exports over the past nine months, a year on year increase of just 2.9%.
The fourth COVID-19 outbreak starting in late April 2021 has dealt a heavy blow to seafood production and processing nationwide, mostly in Mekong Delta provinces, causing production and supply chain disruptions.
With the virus brought under control, businesses have resumed production to fulfill orders. In addition, Vietnam’s major seafood markets such as the European Union, the United States, Russia and Australia are rapidly recovering from COVID-19, creating greater opportunities for local businesses to boost exports.
Despite this positive outlook, high freight rates and a low rate of vaccination in several southern provinces are likely to pose challenges for the seafood sector as it strives to accelerate export growth ahead in the remainder of the year, Nam noted.
He therefore underlined the need to speed up the pace of vaccinations, provide timely support to businesses and workers, and deal with capital and labour force shortages, as well as supply chain disruption in order to rake in US$8.4 billion from exports this year.
