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Viet Nam's Aquaculture Sector Needs $14 Million Boost

Lucy Towers
03 January 2013, at 12:00am

VIET NAM - The General Department of Fisheries under the Ministry of Agriculture and Rural Development has announced that VND301 billion (about $14 million) will be needed to further boost the development of Viet Nams aquaculture sector in 2013.

In 2013, the sector will step up inspection of inputs for production, multiply the model of fishing teams, modernise the fleet and encourage private enterprises to participate in breeding, said Deputy Minister cum Head of the Department Vu Van Tam, VietnamInvestmentReview reports.

It is hoped that the sector will continue to develop sustainably whilst producing more value-added products and maintaining competitiveness.

The sector also set out other goals such as increasing aquaculture area and output and increasing seafood catch.

In 2012, the total output of aquatic products reached an estimated 5,876,000 tonnes, up 8.8 per cent compared with the set goal. Exports brought home $6.12 billion, representing 94.2 per cent in comparison with the set plan and equivalent to the 2011s figure.