Bac Lieu eyes US$1 billion in shrimp exports

Wednesday, Feb 08, 2023 10:26

China, the Republic of Korea, the US, the EU and Japan are major importers of Bac Lieu's shrimp. — VNA/VNS Photo

The southern coastal province of Bac Lieu aims to raise shrimp export revenue to US$1 billion this year, against last year's $853 million.

To realise the goal, the province will expand the areas of high-tech farming and create favourable condition for enterprises and households to boost their production towards sustainable development.

The linkage between farmers and enterprises will be strengthened in line with large-scale production.

Phan Van Sau, director of the provincial Industry and Trade Department, said a lot of local aquatic processing factories had been upgraded to increase their capacity.

To turn Bac Lieu into a shrimp farming centre, the locality is actively supporting businesses in renovating technology to diversify processed products and updating information on market demand and technical barriers. Trade promotion will be strengthened along with training courses for farmers.

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, the US, the EU and Japan are major importers of Bac Lieu's shrimp.

Over the past decade, the shrimp sector has contributed over VND29.7 trillion ($1.19 billion) to Bac Lieu’s aquatic production value. — VNS

none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">In terms of business results, PG Bank's profit before tax in the fourth quarter was more than VND119 billion, a 107 per cent increase over the same period of 2021.

For the whole of 2022, the bank's profit before tax reached VND 506 billion, up 54 per cent year-on-year and exceeding 24 per cent of its yearly plan. — VNS

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