Vietnam's shrimp exports from 1998 to 2017 achieved impressive results with a

growth rate of 752% from $453 million in 1998 to nearly $4 billion in 2017 (an increase
of 8.5 times). In 20 years, despite facing many challenges, the whole shrimp industry has
still risen to become the main export industry, bringing the highest revenue among
exported seafood products, contributing to helping Vietnam's seafood industry. Nam
"reputable" in the international market.
Today, Vietnamese shrimp is increasingly asserting its brand and quality with the
third position in the world in terms of exports. Vietnamese shrimp exporters are
increasing their revenue, reputation, affirming their brands, and doing well their corporate
responsibilities to society and the environment.
Vietnam shrimp exports in turn conquer new heights.
Domestically, the shrimp industry is receiving attention, encouragement, and
favorable conditions from mechanisms and policies. The target program for sustainable
aquaculture economic development for the period 2016 - 2020 has been approved by the
Government, accordingly, strives to actively produce 100% of black tiger shrimp and
white leg shrimp varieties, which are disease-free varieties that are being removed. breed
problems for enterprises in the industry. The Ministry of Agriculture and management
agencies are increasingly closely involved in removing obstacles for the business
community in export procedures and facilitating exports.
Regarding the export market, the world economy is forecasted to recover,
especially in main markets such as the US, Europe, Japan and China, which is the basis
for forecasting seafood demand in other markets. This continues to grow this year. In
addition, a series of bilateral and multilateral free trade agreements with countries have
been signed, which will open up opportunities for Vietnamese businesses to boost
seafood exports to these markets.
Shrimp exports will grow strongly in the future
In 2017, along with pangasius, shrimp was officially approved by the Government
as a national product and needs to be invested and developed. Besides, recently, the
Prime Minister issued the National Action Plan to develop Vietnam's shrimp industry to
2025.
The goal is to turn Vietnam's shrimp industry into a large, sustainable production
industry that adapts to climate change and protects the ecological environment; at the
same time, improving the quality, value, production efficiency and competitiveness of
Vietnamese shrimp products, bringing benefits to people, businesses and the country's
economy. These are considered important "pushs" for the development of Vietnam's
shrimp industry in the coming time.
 Accordingly, the Ministry of Agriculture and Rural Development requires seafood
processing and exporting enterprises to immediately take proactive measures to research
and fully update the regulations of the import market on quality, food safety for
organization to perform in the process of production, processing for export; in which
focusing on controlling hazards, products and requirements of some markets has been
popularized and guided by the Department of Agro-Forestry-Fisheries Quality Control
over the past time.
According to VASEP, in 2021, the seafood trade situation will still be affected by
the Covid-19 epidemic, even being the main factor influencing Vietnam's seafood export
trend. However, we can maintain a competitive advantage in raw material supply
compared to other countries.
In addition, new-generation free trade agreements such as CPTPP, EVFTA,
UKVFTA, RCEP ... continue to be a lever for Vietnam's seafood exports to recover in
some markets.
After a year of doing business and responding to the global pandemic, Vietnamese
seafood processing and exporting enterprises will have more experience and flexibility in
adapting to fluctuations in the world market. Therefore, Vietnam's seafood exports in
2021 will probably increase more than in 2020 thanks to the experience. However, in that
context, businesses need to establish and effectively implement a traceability system in
the entire production process from raw materials to finished products before being sold to
the market, strictly complying with the following regulations. rules of origin, tax
obligations according to market regulations to avoid tax investigations and product
origin.
Actively establish information channels between importers, enterprises and
management agencies to promptly handle difficulties and problems in export, especially
issues related to seafood quality.
With specific actions, it is hoped that Vietnam's seafood industry will contribute to
further development of the country's economy in 2023.