Vietnamese seafood firms propose US$430 million credit package
The preferential loans would enable local producers and exporters to make certain inputs and maintain export markets.
The preferential loans would enable local producers and exporters to make certain inputs and maintain export markets.
Seafood currently makes up 18% of Vietnam’s total exports of agro-forestry-fishery products, with the US being the largest buyer for 23% of the total market share.
By 2030, the domestic market for processed seafood would reach VND40-45 trillion ($1.75-1.97 billion), which would contribute to seafood exports of US$14-16 billion per year.
The investment will be used in advancing Shiok Meats’ research & development activities and build a state-of-the-art production facility in Singapore.
The latest Covid-19 outbreak in India, the world’s largest shrimp producer, has taken a toll on the recovery outlook of this country’s shrimp industry and created opportunities for others.
The Vietnam Association of Seafood Exporters and Producers (VASEP) also asked HCMC to make public revenues and expenditures on specific infrastructure.