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Expo Highlights Seafood Exports and Domestic Consumption

by Geraldine S.
08/21/2024
in Importing & Exporting

The VIETFISH International Seafood Exhibition opened in Ho Chi Minh City on August 21, offering businesses a platform to network, explore new opportunities, and stay updated on industry trends. The event also serves to emphasize the quality and global standing of Việt Nam’s seafood sector.

Organized by the Việt Nam Association of Seafood Exporters and Producers, VIETFISH is the only international seafood exhibition in Southeast Asia. This year, it has attracted over 280 leading processing and exporting companies from 16 countries and territories, featuring 496 booths showcasing a wide range of products, including frozen, fresh, canned, and dried seafood, fish sauce, technology, equipment, and clean energy solutions.

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At the opening ceremony, Nguyễn Thị Thu Sắc, the chairwoman of the association, noted that the scale and professionalism of VIETFISH have consistently improved over the past 25 years, meeting the needs of both domestic and international enterprises. She emphasized that the event has become a significant annual gathering, bringing together top Vietnamese seafood producers and processors with international partners.

“Việt Nam is recognized as a leading nation in the global seafood industry, ranking as the world’s third-largest seafood exporter with over 7% of the global market share,” Sắc stated. “Despite global economic challenges in 2023, including sluggish growth, high inflation, and tightening monetary policies, Việt Nam’s seafood exports nearly reached US$9 billion, demonstrating the industry’s resilience and efforts.”

Phùng Đức Tiến, Deputy Minister of Agriculture and Rural Development, highlighted that the seafood industry is a key sector in Việt Nam, making substantial contributions to the domestic economy. He noted that the industry’s exports increased by 7.3% in the first seven months of the year, totaling $5.29 billion, which accounts for 55.7% of the annual target.

Sắc also pointed out that as Việt Nam integrates more deeply into the global economy, the seafood sector faces both opportunities for growth and significant challenges in export markets and internal issues. “VIETFISH 2024 aims to be a convergence point for industry excellence, connecting businesses across the supply chain for comprehensive development,” she said. “The event will provide a broader view of Vietnamese seafood, showcasing increasingly diverse products that meet global standards in quality, traceability, and sustainability.”

In addition to promoting international trade, Sắc highlighted the potential of the domestic market. She noted that seafood enterprises are gradually expanding within Việt Nam, bringing export-quality products to Vietnamese consumers and reducing reliance on exports. To support this effort, the expo features a dedicated area for the domestic market, where consumers can explore products that meet international standards and are offered at reasonable prices.

Several specialized seminars will also be held during the event. The exhibition, taking place at the Saigon Exhibition and Convention Centre until August 23, is expected to attract 17,000 visitors.

Explore the newest supply chain news at The Supply Chain Report. Visit ADAMftd.com for free international trade tools.

#IndustrialVentilation #EnergyEfficiency #SeafoodIndustry #Expo2024 #VietnamEconomy

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