- The World Bank is providing nearly US$20 million to upgrade and modernise fisheries infrastructure in Nghe An province, Vietnam.
- The project will improve fishing ports, anchorages, and storm shelters, aiming to increase offshore fishing capacity and reduce post-harvest losses.
- Upgraded facilities are expected to serve about 2,000 fishing vessels and handle an average annual seafood catch of 70,000 tonnes.
The proposed Sustainable Fisheries Development project will receive a total investment of about VND500bn (US$19.94m) in funding from the World Bank.
Classified as a Group B investment, the project is aimed at modernising key fisheries infrastructure while strengthening management and production practices across the province.
“The objective is to build, upgrade and expand the infrastructure of fishing ports, anchorages and storm shelters in a synchronised and modern direction. This aims to develop offshore fishing, gradually improve product value and quality and simultaneously reduce unnecessary post-harvest losses,” said Vietnam’s Ministry of Agriculture and Environment (MAE) in a press statement.
Once completed, the improved facilities are expected to serve about 2,000 fishing vessels, handling an average annual seafood catch of approximately 70,000 tonnes.
Infrastructure investments will be implemented in several key areas, namely Tan Mai, Quynh Mai, Quynh Anh, Quynh Phu and Dien Chau.
Upgrading shrimp farming
Alongside capture fisheries, the project will invest in concentrated brackish‑water shrimp farming areas.
A major part of the project, it aimed to upgrade infrastructure and production processes to improve biosafety standards, limit disease risks and reduce environmental impacts.
The project will also support better water supply and drainage systems for shrimp farming zones covering around 734ha, with a total annual farming area of about 1,200ha.
Average shrimp output from these areas is projected at roughly 4,500 tonnes per year.
Representatives from the World Bank recently met with the Nghe An Provincial People’s Committee to review preparatory work and accelerate approvals ahead of formal appraisal.
During the meeting, Nguyen Van De, Vice Chairman of the Nghe An Provincial People’s Committee, said underscored the significance of this investment given the World Bank’s track record of successful investments within the province.
He emphasised Nghe An’s large geographical area and inherent advantages for fisheries development, expressing confidence that the upcoming project would strengthen the province’s fisheries sector.
The project roadmap sets out a multi-year preparation and approval process.
The appraisal and approval of the Investment Policy Proposal Report are targeted for completion this month.
The Feasibility Study Report is expected to be formulated, appraised and approved by December 31.
The financing arrangements are expected to be finalised next March before negotiations and signing of loan agreement expected to be by the following June.
In the first quarter of 2026, Vietnam recorded seafood exports of $2.64bn, an increase of nearly 8 per cent year-on-year.
While exports to China and Hong Kong remained strong, shipments to the US, Japan and South Korea declined. Exports to Europe remained flat.
Exports to the US fell by more than 10 per cent. while exports to Japan and South Korea dropped by around 10 per cent.
The sector observed steady demand from fellow ASEAN nations, Taiwan, and Australia, highlighting growth opportunities as it continues to diversify its export markets.
