Vietnam determined to remove EC’s IUU fishing warning
Removing the European Commission (EC)’s illegal, unreported and unregulated (IUU) fishing “yellow card” is not easy and cannot be done overnight, but the Vietnamese business community and associations are still determined to do, not only to meet EU requirements, but also for the sake of sustainable fishery development.
Delegates share opinions at the workshop (Source: VNA)
HCM City (VNA) - Removing the European Commission (EC)’s illegal,unreported and unregulated (IUU) fishing “yellow card” is not easy and cannotbe done overnight, but the Vietnamese business community and associations arestill determined to do, not only to meet EU requirements, but also for the sakeof sustainable fishery development.
The message was delivered by leading officials of the VietnamAssociation of Seafood Exporters and Producers (VASEP) at a workshop evaluatingthe three-year implementation of the “Vietnam Marine Product Companies Committo Combat IUU Fishing” programme in Ho Chi Minh City on October 31.
VASEP statistics showed that the “yellow card” has madeVietnam’s seafood exports to the EU decrease continuously since 2018. The country’sexport turnover of seafood declined by 6 percent in 2018, 15 percent in 2019,and 13 percent in the first nine months of this year.
From the second biggest importer of Vietnamese seafood witha value of 380-480 million USD a year, the EU now ranks fifth, after Japan, theUS, the Republic of Korea and ASEAN.
Nguyen Thi Thu Sac, VASEP Vice President and head of itsSeafood Committee, said that the EU, however, remains important partner ofVietnam’s fishery sector. Therefore, the association and the seafood businesscommunity are exerting every effort to maintain this market.
At present, 82 percent of fishing vessels are equipped withposition monitoring devices, the trace for seafood origins has improved, andthe legal framework has gradually completed.
Many delegates attending the workshop emphasised the need toraise fishermen’s awareness of abiding by EC recommendations.
Vietnam is exerting efforts to prevent IUU fishing so as topersuade the EC to remove the “yellow card” warning, which was issued inOctober 2017 as the country had failed to demonstrate sufficient progress inthe fight against IUU fishing.
Countries that fail to meet EC standards are given a"yellow card", followed by a "green card" if the problemsare resolved, or a "red card" if they are not. A red card can lead toa trade ban on aquatic products./.
A workshop was held in the south-central province of Khanh Hoa on October 10 to promote tuna supply chain, and tuna exports to the EU under the EU-Vietnam Free Trade Agreement (EVFTA).
Vice Chairman of the Spanish Chamber of Commerce in Vietnam Rubén Saornil Mínguez recently appreciated efforts by the Vietnamese Government, businesses and fishermen in fighting illegal, unreported and unregulated (IUU) fishing following the European Commission (EC)’s recommendations.
ASEAN Today, a website based in Singapore, on October 26 ran an article entitled “Vietnam launded for efforts to combat illegal fishing”, hailing the country’s efforts in this sphere.
Vietnam aims to develop its fisheries sector into a large commodity production industry with competitive capacity and responsible and sustainable integration in line with international institutions, contributing to improving incomes for industry workers.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.