Many opportunities are intertwined with challenges.

The fisheries sector's development in the 2021-2025 period unfolds against the backdrop of the continued implementation of the 2017 Fisheries Law and its guiding documents, along with the approval of major programs and projects such as: the National Program for the Development of Efficient and Sustainable Fisheries Exploitation; the National Program for the Development of Aquaculture; the National Program for the Protection and Development of Fisheries Resources; the Project for the Development of Marine Aquaculture; the Project for the Development of the Seafood Processing Industry, etc., creating a comprehensive legal framework for the Strategy.

Along with an increasingly完善 legal framework, Viet Nam has maximized the advantages from 16 Free Trade Agreements (FTAs) currently in effect (EVFTA, CPTPP, RCEP), helping seafood penetrate major markets with preferential tax rates (especially 0% tax in the EU).

Overall, the production growth rate for the period 2021-2025 is expected to maintain an annual growth rate of approximately 2.6%. 

In addition, the aquaculture industry has mastered the technology and maintained a stable supply, meeting stringent standards, helping to compensate for the decline in wild-caught seafood.

At the same time, focusing on promoting deep processing and creating value-added products has helped maintain export prices and avoid direct competition with countries producing raw materials.

However, the development picture of the fisheries industry still faces many difficulties and challenges such as: High prices of animal feed, fuel, and logistics costs throughout the period, significantly reducing the profits of farmers and businesses.

The European Commission's (EC) yellow card warning against wild-caught seafood remains in place, diminishing credibility, increasing inspection costs, and hindering seafood exports to the EU and other markets. Pangasius and brackish water shrimp face intense price competition from major rivals such as Ecuador and India.

Furthermore, the issues of quality and supply of broodstock (shrimp, fish) have not been fully resolved, still relying on imports and posing a potential risk of disease outbreaks.

With declining fisheries production, aquaculture is becoming the driving force for growth.

Viet Nam's total fisheries production from 2021 to 2025 has maintained stable growth, exceeding the targets set in the Fisheries Development Strategy to 2030, with a vision to 2045.

Overall, the production growth rate for the period 2021-2025 is expected to maintain an annual growth rate of approximately 2.6%.

In particular, the output of fisheries decreased by 0.9% per year, remaining at 3.8 - 3.9 million tons. Although this has not yet met the target of the Strategy (projected to decrease by 5 - 6% per year to reach the target of 2.8 million tons by 2030), it also shows the industry's efforts in controlling fishing intensity to protect resources and cope with the pressure of the EC's IUU yellow card.

Aquaculture production has experienced high and stable growth, projected to reach 6.11 million tons in 2025, from 4.89 million tons in 2021, representing an annual growth rate of 5.2%. Aquaculture production is accounting for an increasingly large proportion, representing 60.2% of total fisheries production in 2024 and approximately 61% in 2025, affirming its role as the main driving force of the industry.

In summary, the structure of aquaculture production has shifted significantly in line with the Strategy's direction: "Reduce fishing, increase aquaculture."

Breakthrough in export turnover

Alongside the shift in production, the seafood export landscape for the period 2020-2025 clearly reflects the ups and downs of the international market.

Exports rose from $8.4 billion in 2020 to $8.89 billion in 2021 and peaked at $10.9 billion in 2022 thanks to a strong recovery in global demand after the pandemic. However, 2023 saw a decline due to the impact of the global economic recession, high inflation, and large inventories in importing markets.

However, in 2024, seafood exports recovered significantly, reaching $10.04 billion, and are projected to reach $11.3 billion in 2025 – a new milestone demonstrating the industry's relatively good adaptability and recovery capabilities.

Market by market, the United States, Japan, China, South Korea, and the European Union remain the main markets, although trade volumes fluctuate from year to year. The United States and China recorded strong growth again in 2024, reflecting improved demand and flexibility in product and market adjustments. Meanwhile, the EU and Japan experienced slower growth, indicating increasing pressure from technical standards, sustainable consumption, and fierce competition.

The seafood export landscape for the period 2021-2025 reflects a positive recovery trend, while also highlighting the need to enhance added value, diversify markets, and ensure sustainable development for Viet Nam's seafood exports in the coming period.

Expanding markets, enhancing competitiveness, and promoting green development.

The achievements in the 2021-2025 period have laid an important foundation for the fisheries sector to move into the 2026-2030 period with the requirement of accelerating and making breakthroughs.

Mr. Pham Quang Toan, Deputy Director of the Fisheries and Fisheries Inspection Department ( Ministry of Agriculture and Environment ), stated that 2026 is the first year of the 2026-2030 period, a phase of acceleration and breakthroughs aimed at achieving sustainable fisheries development goals. The fisheries sector will continue to implement synchronously and uniformly from the central to local levels the regulations of the 2017 Fisheries Law and the tasks and solutions of the Fisheries Development Strategy to 2030, with a vision to 2045.

Continuing to implement the policy outlined in the Fisheries Development Strategy, which is to reduce fishing and increase aquaculture; and simultaneously implementing synchronously and uniformly from the central to local levels the programs, projects, and plans for fisheries development in accordance with the Strategy approved by the Prime Minister and the Minister of Agriculture and Environment.

Seafood exports are projected to reach US$11.3 billion in 2025 – a new milestone demonstrating the industry's relatively good adaptability and recovery. Photo: Hong Tham .

Developing the fisheries economy in a sustainable manner, adapting to climate change, and enhancing the competitiveness of fisheries products. Continuing to implement the "Transformation from a fisheries production mindset to a fisheries economic mindset," and "Shifting from single-value growth to integrated multi-value growth."

At the recent seafood export review ceremony in Ho Chi Minh City in 2025, the Viet Nam Association of Seafood Processing and Export (VASEP) noted that in 2026, the seafood industry will face many challenges and market barriers such as: reciprocal tax policies, anti-dumping duties on shrimp, regulations under the Marine Mammal Protection Act (MMPA) from the United States, the EU's IUU yellow card, and increased competition from other exporting countries…

VASEP emphasizes its priority of supporting businesses in three major directions: expanding markets, enhancing competitiveness, and promoting green, transparent, and responsible development, raising traceability standards, and digital transformation; while also coordinating with the Government and localities in efforts to promote sustainable development, livelihoods, and community support programs, aiming for a more professional, efficient, and resilient Vietnamese seafood industry in the face of market fluctuations.

Source: Viet Nam Agriculture and Nature News

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