Bac Lieu turning shrimp sector into economic spearhead

25-Nov-2022 Intellasia | VNA | 5:02 AM Print This Post

Shrimp breeding has been identified as a spearhead economic sector for the Mekong Delta province of Bac Lieu, which has significantly contributed to maintaining economic growth in the province.

The locality has poured investments in the sector over the past years so as to optimise its potential. Shrimp export revenue is expected to rise 5.28 percent per year in 2021-2025 to reach 970 million USD by 2025.

Bac Lieu is one of the leading provinces nationwide in high-quality shrimp fry production, with an annual output of 25 billion, accounting for more than half of the volume in the Mekong Delta and about 20 percent of the whole country.

The province counts 188 shrimp fry facilities, of which 159 specialise in tiger prawn and 29 in white-leg shrimp. Besides, there are 33 aquatic processing factories for export with a combined capacity of some 125,000 tonnes each year.

China, the Republic of Korea (RoK), the US, the EU and Japan are major importers of Bac Lieu’s shrimp.

Over the past decade, the shrimp sector has contributed over 29.7 trillion VND (1.19 billion USD) to Bac Lieu’s aquatic production value.

In 2018, the government allowed Bac Lieu to establish a high-tech agricultural park for shrimp development. The province is working hard to become a national shrimp production centre.

Eighteen businesses and 711 households in the locality have applied the high-tech shrimp breeding model which helps to better control diseases, boost shrimp growth and protect the environment, towards sustainable shrimp farming.

Pham Van Thieu, Chair of the provincial People’s Committee, said Bac Lieu will attract quality projects with high added values, using cutting-edge technology, bio-technology and new, environmentally friendly materials, and generating jobs for many local labourers.

To promote its potential and image to both domestic and foreign investors, Bac Lieu is making preparations for a trade promotion conference this year which will focus on market potential, investment partnership, policies and investment opportunities.

Thieu said over the past time, Bac Lieu has invested in infrastructure for the shrimp sector, especially in the high-tech agricultural park, along with the facilities included in the target programme on sustainable fishery-based economy and the action plan on shrimp development by 2025.

To raise the product value, it has also duplicated the models that satisfy VietGAP, GlobalGAP, Organic, ASC and MSC standards, according to the official.

The locality will continue to inject investments into the five pillars of high-tech agriculture; renewable energy (solar and wind power) and gas power, tourism; trade-services, education, high-quality health care; and maritime economy in combination with national defence and security in 2022 and the coming years.

In the first 10 months of this year, Bac Lieu’s seafood and aquatic output reached 371,789 tonnes, up more than 8 percent year-on-year, and its export value exceeded 705 million USD, up over 10%.

Bac Lieu’s economy is projected to expand 9-10 percent this year and its GRDP per capita is hoped to hit 65.72 million VND. The locality’s total social investment would reach 34.94 trillion VND and its budget collection is set at 3.26 trillion VND. The province would earn 920 million USD from exports in the year.

With its investment attraction advocacy, and harmonious, sustainable development policies, Bac Lieu expects to attract more businesses and investors in the five pillars, including the shrimp sector.


Category: Economy, Vietnam

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