Prime Minister, Mr. Nguyen Xuan Phuc: Building a world-recognized Vietnamese shrimp brand

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The Prime Minister, Mr. Nguyen Xuan Phuc visits a shrimp processing factory of Minh Phu Group.

According to the report at the meeting, Vietnam is currently ranked 3rd on shrimp production in the world (following China and Indonesia), with production of 600,000 to 650,000 tons per year. Leading the world in manufacturing prawns with 300,000 tons per year and always in the top 5 countries exporting shrimp, Vietnam has exported shrimp to nearly 100 countries and territories. Vietnam is now the largest supplier of shrimp for the Japanese market, the 3rd largest supplier for the US and 4th largest supplier for the EU.

The Ministry of Agriculture and Rural Development said that the shrimp industry had potential advantages, so we should develop it to adapt to climate change as well as being friendly to the environment in two ways: Developing shrimp farming based on high-tech industry, friendly to the environment in Bac Lieu, Soc Trang and some other localities with suitable conditions; and developing ecologically sustainable shrimp farming such as forest Shrimp in Ca Mau, Kien Giang and some other localities with an advantage of ecological conditions.

At the meeting, many delegates discussed together to seek solutions to develop Vietnam’s shrimp industry to be faster and more sustainable.

The representatives of many groups and corporations in processing and supplying shrimp such as Vietnam-Australia corporation, Minh Phu, other enterprises and experts expressed their wish about the bright picture of Vietnam’s shrimp industry in the near future to the Prime Minister. They said: "It is time to build a world-recognized Vietnamese shrimp brand and Vietnam will be the largest ‘workshop’ in the world in production of shrimp in the 21st century".

According to enterprises and experts, in order to reach the target of Vietnam's shrimp exports of $US 10 billion by 2020, Vietnam needs to build and protect its brand as well as avoiding relevant problems like with exported rice and catfish.

Speaking at the meeting, the Prime Minister, Mr. Nguyen Xuan Phuc said that Vietnam’s shrimp industry must achieve the target of shrimp exports of $US 10 billion; as well as building a world-recognized Vietnamese shrimp brand. In addition, enterprises in the shrimp industry need to work together and support each other about clean seed, food, and production lines to shorten the intermediate process in the production and acquisition of shrimp to further increase profits for farmers.

The Prime Minister hoped that with current advantages and resources, Vietnam would be the largest “workshop” in the world in production of shrimp in the 21st century. Also, at the meeting, the Prime Minister assigned the Ministry of Agriculture and Rural Development, the Ministry of Science and Technology, the Ministry of Industry and Trade, the Ministry of Planning and Investment, the Ministry of Finance and the Ministry of Public Security to review policies to support the shrimp industry as well as motivating the shrimp industry in the future.

The Prime Minister has also requested the Vietnam Electricity Corporation to ensure the supply of electricity for shrimp farmers. Accordingly, localities must actively develop production and business activities of seed and food safety, and make plans to form high-tech manufacturing zones. In addition, localities should research and clarify a new model of development of social enterprises in shrimp production and processing to ensure competitive capacity in ecological shrimp with countries in the world.

PM wants shrimp exports to reach US$10 billion by 2025 Prime Minister Nguyen Xuan Phuc asked the shrimp industry to strive for an export value of US$10 ...

It is forecast that the demand from key import markets in 2017 will increase, so shrimp prices will be quite high and in 2017, the output of raw shrimp will increase slightly. It is expected that exported shrimp in 2017 will reach $US 3.3 billion, an increase of 9% compared to 2016. Accordingly, white shrimp will reach $US 2 billion, an increase of 8% compared to 2016 and prawns will reach $US 900 million, an increase of 2% compared to 2016.