Seafood firms urged to tap domestic market with clearer strategies
VOV.VN - Vietnamese seafood enterprises are being encouraged to move away from viewing the domestic market as merely a backup for exports and instead invest in consumer research, packaging, branding, and modern distribution to unlock the full potential of the country’s 100-million-strong market.
The view was shared at a roundtable discussion held in Ho Chi Minh City on August 1, focusing on how to expand domestic consumption of Vietnamese seafood amid growing global trade barriers.
Nguyen Thanh Nam, deputy director of the Department of Domestic Market Development under the Ministry of Industry and Trade, pointed out that despite seafood being a strategic export sector, with annual revenues of around US$10 billion and access to 170 markets, Vietnamese businesses have largely overlooked the domestic market.
Currently, imported seafood makes up about 40% of local consumption. The domestic market itself is valued at just US$1 billion, while average annual per capita consumption remains low at 40 kilograms, well below that of many neighboring countries.
Nam attributed this to outdated distribution networks, weak connections between producers and modern retailers, and fragmented consumer behavior across regions.
He stressed that enterprises must move away from viewing the domestic market as an afterthought. Instead, they should make targeted investments in understanding consumer preferences, enhancing product presentation, building reputable brands, and strengthening their presence in modern retail channels.
To support this shift, the Government has tasked the Ministry of Industry and Trade with developing a dedicated project to boost domestic consumption. A key element of this plan involves establishing a modern distribution framework tied to stricter quality control mechanisms.
As part of the initiative, a new circular will soon be released for public consultation. It will mandate full traceability for all seafood products sold in the local market.
“This circular will require all goods in circulation to have verified origins,” Nam said. “A national database will also be launched to monitor distribution and prevent substandard products from reaching consumers.”
Seafood sector adapts to new markets, targets US$11 billion in exports
VOV.VN - With flexible market strategies, deeper processing and focus on niche markets, Vietnam’s seafood industry aims to sustain growth and reach its 2025 export target of US$11 billion.
