The US$155.52 million Sustainable Fisheries Development Project will modernize nine fishing ports, upgrade infrastructure and strengthen Viet Nam’s fisheries sector.
The World Bank has approved a US$155.52 million loan for Viet Nam’s Sustainable Fisheries Development Project, which aims to strengthen sector management, modernize infrastructure and increase the value of fisheries products.
The World Bank’s project aims to modernize fishing port infrastructure and strengthen the fisheries sector’s capacity and resilience. Photo: Ha Duyen.The project will be implemented in northern and central Viet Nam and the Mekong Delta. It will focus on modernizing nine fishing ports while developing infrastructure networks and strengthening capacity to support sustainable and climate-resilient capture fisheries and aquaculture.
According to Mariam J. Sherman, World Bank Country Director for Viet Nam, Cambodia and Laos, infrastructure investment can do more than reduce business costs. It can also drive growth and job creation, improve competitiveness and strengthen capacity to manage climate risks.
The World Bank estimates that more than 525,000 fishers, aquaculture farmers and coastal residents will benefit from the project. Expected outcomes include higher incomes, improved fisheries quality and reduced post-harvest losses. Women are expected to account for at least half of the direct beneficiaries.
According to the World Bank’s project documents, the project aims to strengthen fisheries management and increase value added through investment in smart infrastructure. It will support Viet Nam in improving fisheries governance, investing in climate-resilient infrastructure and strengthening production and supply-chain capacity.
Another focus is developing modern fishing ports as “green ports”, making infrastructure more resilient to climate impacts, increasing product value, and improving controls at ports. These investments will also support market access and traceability requirements as part of sustainable fisheries management.
The project documents note that investment in fishing ports and anchorage areas plays an important role in managing fishing activities, monitoring fishing vessels at ports and improving the efficiency of fisheries supply chains. The project also aims to strengthen the resilience of low-lying coastal areas to climate change.
The project is part of development cooperation between Viet Nam and the World Bank Group, funded through the International Bank for Reconstruction and Development (IBRD).
The fisheries project is part of a total US$666.74 million in IBRD financing recently approved for three projects in Viet Nam. The other two projects focus on developing climate-resilient infrastructure in Hai Phong and strengthening regional connectivity in the Mekong Delta.