Shrimp being processed at a Minh Phu Seafood Corp factory in Ca Mau Province. Seafood is one of the province's key export items. — VNA/VNS Photo Vu Sinh

The southern province of Ca Mau is working hard to support local enterprises to realise the target of US$1.2 billion in export turnover set for this year amid the unexpected developments of the novel coronavirus (COVID-19).

The provincial People’s Committee will take drastic measures to improve the investment and business environment, and push ahead with a project on enhancing the efficiency and sustainable development of the shrimp industry to 2025.

Incentives will be made to encourage the application of advanced techniques in farming and aquaculture, and clean technologies in processing, in order to improve the output and quality of products.

During a recent meeting, Chairman of the People's Committee Nguyen Tien Hai asked relevant departments and sectors of the locality to keep a close watch on the situation in order to keep local enterprises updated, thus helping them proactively prepare production and processing plans.

Local enterprises would also benefit from preferential policies on capital and interest rates, he said.

According to the provincial Department of Industry and Trade, the newly-ratified European Union-Viet Nam Free Trade Agreement (EVFTA) would help Viet Nam expand shrimp shipments to European markets.

Export enterprises in Ca Mau should strive to fully tap opportunities brought about by the agreement to increase the export turnover of shrimp and other key products, it said.

Local firms generated an estimated $60 million from exports in January, 2020, up 7 per cent year-on-year. Their main export markets were the US, Japan, South Korea, Canada, Australia, China, and European nations.

In 2019, overseas shipments earned the firms nearly $1.2 billion, 4 per cent than previous year.— VNS