Vietnamese exporters lack capital, demand


SeafoodSource staff

Published on
May 22, 2012

The number of seafood exporters dropped in the first quarter of this year due to lack of capital and falling exports, the Vietnam Association of Seafood Exporters and Producers (VASEP) said.

In the first quarter, about 30 percent of seafood enterprises suspended production due to lack of capital, high production costs and the pressure caused by complicated administrative procedures and policies, the association said.

Additionally, the General Department of Taxation's official report showed that the number of seafood exporters had reduced by 300 to 500 in the first quarter of this year, the association said.

The closure of so many firms was sure to affect yearly export targets, Nguyen Hoai Nam, VASEP's deputy general secretary, told Sai Gon Tiep Thi newspaper.

Click here to read the full story from Vietnam News > 

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