Approving a 115 million USD Sustainable Fisheries Development Project

Deputy Prime Minister Tran Luu Quang recently signed a decision approving the investment policy of the Sustainable Fisheries Development Project. The project is funded by the World Bank, the Sustainable Trade Initiative (IDH) and World Wide Fund for Nature (WWF). The Ministry of Agriculture and Rural Development was assigned as the project owner.

The project will be implemented in the cities of Hai Phong, Thai Binh and the provinces of Thanh Hoa, Binh Dinh, Khanh Hoa, and Kien Giang. The total project investment capital is estimated to be 115.6 million USD, which is more than 2,600 billion VND. Namely, WB grants an IBRD loan of 83.6 million USD; IDH and WWF grant a loan of 1.61 million USD; the counterpart capital is 30.4 million USD. The project will be implemented over a six-year timeframe.

The project's objective is to invest in infrastructure for fishing, including building and modernizing dynamic fishing ports belonging to large fisheries centers, grade I fishing ports, and storm shelters for regional fishing vessels. The success of this objective will create a driving force to support offshore fishing, improve fishing efficiency, reduce post-harvest losses, protect Vietnam's sovereignty over the sea and islands and remove the European Commission's yellow card. 

Infrastructure for the fisheries surveillance industry will be constructed to effectively and sustainably exploit and protect marine resources. Local governments will strengthen their capacity in the management and organization of production, the fight against illegal, unreported and unregulated (IUU) fishing, and the sustainable management of aquatic resources. Furthermore, the project aims to reduce post-harvest losses, limit epidemics, protect the environment in response to climate change, and improve management capacity for the fisheries sector.

The project consists of 7 construction investment sub-projects and the contents of fisheries management capacity, project management are divided into several components. Namely, the project will invest in the infrastructure of 7 sub-projects for sustainable fisheries development by constructing 2 new dynamic fishing ports in major fisheries centers in Khanh Hoa and Kien Giang provinces; upgrade and repair a fishing port and storm shelter complex on Bach Long Vi island, Hai Phong city, Lach Hoi fishing port in Thanh Hoa province, and Lach Bang fishing port in Thanh Hoa province; construct new Grade I fishing ports: Thuy Tan fishing port in Thai Binh province and one storm shelter in Tam Quan district, Binh Dinh province.

The project's second component includes non-structural items: Capacity building for fisheries management to combat IUU illegal fishing; Application of advanced technology in mariculture and shrimp seed production; Application of advanced technology in commercial shrimp farming; Upgrading and refining the national database on fisheries; Supporting the management and reduction of plastic waste in fishing and aquaculture.

The Ministers of: Agriculture and Rural Development, Planning and Investment, Finance, Natural Resources and Environment, Foreign Affairs, Transport; the Governor of the State Bank of Vietnam; the Chairmen of the People's Committees of Thai Binh, Hai Phong, Thanh Hoa, Binh Dinh, Khanh Hoa, Kien Giang and heads of relevant agencies are responsible for implementing this project.