26.7 C
Ho Chi Minh City
Saturday, June 22, 2024

Ca Mau to invest VND20 trillion to boost shrimp industry

The Saigon Times

Must read

HCMC – The Mekong Delta province of Ca Mau plans to invest VND20 trillion to develop its shrimp industry, aiming to increase export revenue to US$1.4 billion by 2025 and US$1.65 billion by 2030.

The People’s Committee of Ca Mau Province said on May 25 that it had approved a development plan for the shrimp sector in 2021-2030, with a vision to 2050.

Under this plan, the province will use advanced technology to enhance productivity and quality, making local shrimp competitive in global markets. The plan also addresses climate change and environmental protection.

Ca Mau aims to produce 176,000 tons of processed seafood by 2030, and establish two seafood complexes in Nam Can and Dam Doi districts, covering 190 hectares and 178 hectares, respectively. These complexes will provide housing and logistics for workers and experts.

The plan also focuses on shifting production towards value-added products, targeting 75-80% of exports in this category by 2030, while reducing the share of raw exports to 20-25%.

Ca Mau looks to maintain strong export markets while expanding to new ones. By 2030, it projects the EU will account for 17% of exports, Japan 20%, the U.S. 20%, and China and others 43%.

Vietnam is one of the world’s largest shrimp producers, with Ca Mau as its leading shrimp farming province. The province has 280,000 hectares under shrimp farming, part of its 303,000 hectares of aquaculture land. The shrimp industry contributes nearly 50% of Vietnam’s seafood export value, generating close to US$4 billion annually.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest articles