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Attracting foreign investment in Vietnam fisheries industry

After more than five years of negotiations, 12 countries joined the Trans-Pacific partnership (TPP) finally reached agreement on the largest trade agreement in the world.
Fisheries is one of the group will be evaluated attract investment FDI along with sectors such as Textile, leather, wood, automobile distribution, industrial, ...

Foreign investors are attracted to invest in Vietnam fisheries industry by factors such as:

Geography: With more than 3200 km long coastline stretches north and south latitude 13 create significant differences in climatic zones, weather, hydrological regime .... Coastal has many islands, the gulf and thousands of hectares of lagoons, ponds and inland waterways, in addition to the dominant position where the exchange is located in the major fishing area, this is the area to be assessed seafood is the largest reserves, rich in variety and specialties quarter across all three regions saltwater, freshwater, brackish.

Regarding marine resources: Sea Vietnam has over 2,000 species of fish, 130 species of fish which have economic value, over 1,600 species of crustaceans, output enable extraction 50-60 thousand tons / year, high worths are sea shrimp, lobster and slipper lobster, crab; 2,500 species of mollusks, which have high economic significance especially squid and octopus (allow exploitation 60-70 thousand tons / year); can be exploited annually from 45 to 50 thousand tonnes of seaweed Asia have economic value as seaweed, Sargassum etc.
Besides favorable natural conditions, the Vietnamese fisheries industry also has potential advantages in labor and labor cost, tobe only half compared labor cost of China.

Recognizing the role of the fisheries industry, Vietnam has many policies to encourage and support the industry, as issued Decree 67 on a number of tax incentives to develop effective fishery from May 8-2014 is considered a breakthrough solution in loans to assist fishermen shipbuilding, offshore and sea clinging VN also committed to the protection of foreign investors to invest in the Vietnamese fisheries industry in Investment Chapter of TPP.

Vietnam's fisheries industry having major commercial transactions in blocks of TPP countries, especially Japan, the US, in addition to the potential water as Mexico, Australia, ... Notably the markets big schools like the US, Japan and Canada decreased to 0% import tax would help create "push" towards greater export activity of our country.

The direct impact of the TPP for Vietnam fisheries industry has been identified as coming from the tariff measures (tax incentives for Vietnam seafood imported into the TPP member countries as well as tax incentives for hydro Is the TPP partner countries for import into Vietnam) and border measures related to imports (the trade remedies, technical barriers, sanitary and phytosanitary measures, ...)

When joining the TPP, agreement beneficial to both parties, not only for Vietnam. TPP is not only reducing and removing tariff barriers but also facilitate trade and stimulate investment expansion. With the advantage of geography, economic stability, political accompany policies to encourage and attract foreign investment, besides benefiting from the expanding export market, Vietnam is likely will be received strong capital flows, which support, promote economic growth and create the foundation for the rise of the stock market in the medium and long term. for foreign investors is based on the natural conditions with preferential policies of the State, will promise to provide opportunities and resources when investors invest in the Vietnam fisheries industry.

Duy, Nguyen
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