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Vietnam’s Ca Mau to invest $785mn in shrimp sector by 2030

Vietnam’s Ca Mau to invest $785mn in shrimp sector by 2030

Sunday, May 26, 2024, 17:13 GMT+7
Vietnam’s Ca Mau to invest $785mn in shrimp sector by 2030
An industrial shrimp farm in Nam Can District, Ca Mau Province, southern Vietnam. Photo: Thanh Huyen / Tuoi Tre

Chairman of the administration in Ca Mau, the southernmost province of Vietnam, Huynh Quoc Viet on Saturday signed a decision approving a plan to develop the local shrimp sector by 2030, with a vision for 2045, at an estimated cost of VND20 trillion (US$785.2 million).

Of the total, VND4.05 trillion ($159 million) will be sourced from the province’s coffers and the remaining from other resources.

The province aims to become Vietnam’s largest shrimp hub that will employ advanced technologies to improve productivity and output, adapt to climate change, and protect the environment by 2030.

Ca Mau set a target to stabilize its shrimp farming area at 280,000 hectares and develop two seafood complexes in Nam Can and Dam Doi Districts.

The province will produce shrimp post-larvae to meet at least 80 percent of the demand of local farmers, while locally-produced shrimp feed can meet 40 percent of the demand.

As per the provincial administration’s decision, Ca Mau looks to reach a farmed shrimp output of 350,000 metric tons and an export value of $1.65 billion a year.

It plans to increase the proportion of value-added shrimp products to 80 percent in the next six years.

The province anticipates cultivating a sustainably developed shrimp sector characterized by high-quality products, reputable brands, and recognition in both domestic and international markets by 2050.

All of its shrimp products will be traceable, while its shrimp farming facilities will be developed in a modern and synchronous manner.

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Thanh Ha - Thanh Huyen / Tuoi Tre News


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