The Vietnam Association of Seafood Exporters and Producers (VASEP) has proposed the Ministry of Planning and Investment adopt measures to tackle the difficulties facing the seafood industry.

Input costs have kept rising post-pandemic, resulting in high production and trade costs while exports and the prices of many products have been on the decline due to lower demand, affecting farmers, processors, and exporters, according to VASEP.

Meanwhile, businesses also face difficulties in gaining access to credit amid high interest rates.

The Association proposed that the State provide support in terms of policies, taxes, and fees to help businesses reduce operational costs.

Seafood exports fell 27.9 per cent year-on-year in the first five months of the year, reaching nearly VND3.38 trillion ($142 million).

Businesses have seen a decline in orders of 20-50 per cent.