Viet Nam will also help Sri Lanka prepare a masterplan for aquaculture with the National Aquaculture Development Authority (NAQDA), reports LankaBusinessOnline.
Sri Lanka has a long coastline and good water resources which are currently underutilised with the necessary technology transfer from Viet Nam. By 2040, aquaculture production is estimated to reach 50 million tonnes.
Dao Van Tri director of the research institute said Sri Lanka's brackish water along the Eastern in Baticaloa, Tricomallee and also Mannar in the north east had great potential for culturing many species.
In Viet Nam farmers who shifted to aquaculture had increased their profits 300 to 400 per cent. "If more farmers have the opportunity to apply Vietnamese techniques it will have a multiplier effect on the economy," Viet Nam ambassador Ton Sinh Thanh told the newspaper.
"This will also provide more supply to the Sri Lanka domestic market and increase exports."