Multi-million-dollar tuna auctions to debut in Vietnam

The south-central province of Phu Yen will host several multi-million-dollar tuna auctions in the future following a memorandum of understanding (MoU) it recently signed with Japan’s Kiyomura Corporation, according to Ho Thi Nguyen Thao, vice chairman of the provincial People's Committee.

Multi-million-dollar tuna auctions to debut in Vietnam ảnh 1

Under the MoU, the two sides will share experience and increase cooperation in a fisheries development model, focusing on technology, management, and marketing activities of aquatic products, especially tuna.

According to Thao, the Japanese side has planned to invest in an auction market at Dong Tac Tuna Port, which is anticipated to increase the overall value and develop the local tuna industry in Phu Yen in a sustainable manner.

In fact, local  fishermen sometimes catch some tuna weighing between 200 – 300 kilos each that are only sold for less than VND100 million, equivalent to less than US$4,500 – a price which is much cheaper than in the Japanese market. Poor quality of tuna, along with outdated fishing and post-harvest preservation technologies are partly to blame, said Thao.

“With Kiyomura boasting strengths in tuna exploitation, processing, and consumption, we do hope there will be a drastic change in terms of fishing methods and tuna prices within the local market in the future,” Thao told VTC Newswire.

Currently, Phu Yen catches between 3,000 – 5,000 tonnes of tuna a year and its annual output is expected to rise to between 7,000 and 10,000 tonnes if the cooperation model is successful.

To seize opportunities, Thao suggested that the local tuna industry modernise fishing vessels, equipment, and technology of exploitation, train human resources, and upgrade infrastructure.

She also underscored the importance of co-operation with Kiyomura Corporation to receive greater support for technology transfer in terms of exploitation and processing to enjoy advantages in the future.  

VOV

Other News

Data-driven land valuation to curb speculation: Experts

Data-driven land valuation to curb speculation: Experts

From a property-market perspective, Do Thi Thu Giang, National Director of Valuation and Advisory at Savills Vietnam, said the orientations under Resolution No. 21-NQ/TW could make the market more transparent and efficient, with property values increasingly tied to actual development and use potential.

Resolution No. 19-NQ/TW sets new growth drivers for Vietnam

Resolution No. 19-NQ/TW sets new growth drivers for Vietnam

Science and technology, innovation, digital transformation and AI must be translated into higher productivity rather than pursued as ends in themselves. At the same time, people should be placed at the centre of development, not merely viewed as a resource but as the ultimate objective of development policies.

Expo to open door for Vietnamese suppliers to enter US market

Expo to open door for Vietnamese suppliers to enter US market

US retail giant Target is seeking Vietnamese suppliers of household goods, home textiles, children’s products, personal care and beauty products, with a focus on companies capable of manufacturing and developing products that meet requirements on quality, design and supply chain management.

2026 Banking Sector Digital Transformation to open in Hanoi

2026 Banking Sector Digital Transformation to open in Hanoi

The annual event, which will be held on August 18-19, 2026, at the ICE International Exhibition Centre, 91 Tran Hung Dao Street, Hanoi, is expected to attract around 324 delegates and feature 21 booths representing credit institutions, payment intermediary service providers, and technology companies.

Vietnam – one of most attractive destinations for leading US semiconductor companies: expert

Vietnam – one of most attractive destinations for leading US semiconductor companies: expert

Vietnam has built a solid semiconductor and electronics industry before joining ITSI, attracting major US semiconductor companies. Intel Products Vietnam is one of Intel's largest assembly and testing facilities worldwide, while chip design companies such as Synopsys, Cadence, Marvell and Qualcomm have established engineering and research centres in the Southeast Asian country.

Vietnam targets higher-quality FDI under Resolution 10

Vietnam targets higher-quality FDI under Resolution 10

During the first seven months of 2026, Vietnam attracted more than 38 billion USD in registered FDI, up nearly 58% year-on-year. More importantly, the increase was driven by large-scale, high-tech projects rather than a surge in the number of new investments, signalling a significant improvement in the quality of capital inflows.

Manufacturing, engineering drive hiring growth in H1: report

Manufacturing, engineering drive hiring growth in H1: report

Manufacturing and engineering posted the strongest recruitment growth, with hiring demand surging 70% year-on-year, driven by production expansion, supply chain restructuring and sustained investment inflows in high-tech manufacturing.

Government proposes special mechanisms to unblock APEC 2027 projects in Phu Quoc

Government proposes special mechanisms to unblock APEC 2027 projects in Phu Quoc

The projects in Phu Quoc have been implemented under tight deadlines. Since May 2025, the Prime Minister has directed preparations for APEC 2027, including accelerated infrastructure development on the special zone. An Giang province and investors have subsequently launched a number of major projects involving complex technical requirements and demanding construction schedules.

Financial market reform plan targets high, sustained growth through 2045

Financial market reform plan targets high, sustained growth through 2045

The plan seeks to develop a balanced and modern financial market that is closely integrated with regional and global markets, strengthens the mobilisation and allocation of domestic and foreign capital, and enhances the market’s role as a key provider of medium- and long-term capital for the economy and as a major driver of sustained high economic growth.

An Giang aims to become leading maritime economic hub

An Giang aims to become leading maritime economic hub

Under the province's master plan for 2021–2030 with a vision to 2050, An Giang will prioritise investment in five strategic sectors: strategic infrastructure; processing industries and clean energy; trade, services, logistics and border-gate economy; high-quality tourism; and high-tech agriculture, ecological development and the circular economy.