Industry challenges will be addressed at the Shrimp Summit 2023 as solutions are sought.

Annually, the shrimp industry makes up approximately 40-45% of the entire seafood export value, amounting to US$3.5-4.3 billion.

The Shrimp Summit 2023 was held in Ho Chi Minh city, bringing together shrimp experts and businesses to discuss solutions for the challenges facing the shrimp sector in Asia and worldwide, with a focus on ensuring sustainability and resilience to climate change.

Deputy Minister of Agriculture and Rural Development, Mr. Phung Duc Tien, highlighted Vietnam's potential in brackish water shrimp farming and the significant role of the shrimp industry in the country's seafood exports. He mentioned that Vietnamese shrimp is exported to over 100 countries, with Europe, the US, Japan, China, and South Korea being the largest markets. Mr. Tien also noted that Vietnam is the second-largest shrimp supplier globally, accounting for 13-14% of total shrimp exports.

Despite maintaining stable export growth of nearly 7% over the past 20 years, the Vietnamese shrimp sector is facing challenges due to the impacts of the COVID-19 pandemic and market fluctuations. The government has implemented various programs and projects to support sustainable growth in the sector.

During the summit, discussions focused on important industry topics such as production forecasts, market demand, updating standards for shrimp products, and innovative farming techniques. Mr. Nguyen Viet Thang, (Chairman of the Vietnam Fisheries Society) emphasized the contributions of the shrimp sector to the country's economic development and expressed hope that international experts and buyers would share advanced technologies and market demands in shrimp trading.

Mr. Le Van Quang (General Director of the Minh Phu Fisheries Group) highlighted Vietnam's extensive shrimp farms and their ability to meet the diverse demands of over 100 countries. Vietnam has also developed ecological and organic shrimp farming models that meet sustainability standards.

As part of the summit, attendees had the opportunity to visit shrimp farm production and processing facilities in Ca Mau province of the Mekong Delta region.