The US is set to invest $15.2 million in a five-year project aimed at improving Viet Nam's tilapia value chain while expanding trade in soy-based aquaculture feed and tilapia products.

The news was announced during a meeting on January 13 in Hanoi between Phung Duc Tien, Deputy Minister of Agriculture and Environment, and a delegation from the US Embassy in Viet Nam to discuss the implementation of the new US-Viet Nam Aquaculture Value Chain Partnership.

Ralph Bean, agricultural counsellor at the US Embassy in Viet Nam, noted that the project will be led by Lutheran World Relief (LWR), with support from Vietnamese partners and the American Soybean Association's World Initiative for Soy in Human Health (ASA/WISHH). The total projected budget of the initiative exceeds $15.2 million.

“Under the framework of the US Food for Progress Programme, the project is designed to improve the tilapia value chain in Viet Nam, as well as to strengthen trade in soybean-based aquafeed and tilapia products,” Bean said. “Over the five-year implementation period, we aim to achieve a cumulative tilapia output of 1.21 million tonnes, with total sales value estimated at $1.25 billion.”

He also noted the project's role in facilitating increased imports of high-quality soybean products for aquaculture feed and expanding tilapia trade not only to the US market but also across regional and domestic markets.

The project is expected to directly benefit more than 24,200 stakeholders over the next five years, including smallholder farmers, commercial farms, processing plants, units under the Ministry of Agriculture and Environment, and related industry associations. Proposed implementation areas include the Red River Delta and the Mekong Delta.

From March to September 2026, baseline studies, resource assessments, and grant promotion activities will be undertaken, alongside efforts to improve broodstock tilapia quality and support hatcheries.

Starting in October 2026, the project will expand to provide technical assistance, training, capacity building, and financial support.

On the Vietnamese side, Deputy Minister Phung Duc Tien described the initiative as a “right and timely” step that will provide important resources for implementing Viet Nam's tilapia development plan through 2030. He also suggested exploring the development of striped tilapia and red tilapia varieties in the central and southern regions to maximise geographic advantages.

“Tilapia has the advantage of fast growth and good flesh quality,” the deputy minister said, adding that Viet Nam possesses a pool of skilled experts, and many enterprises are increasingly shifting their focus towards this species.

While tilapia has yet to become a major export item in Viet Nam's seafood sector, it experienced strong growth in 2025.

According to the latest data from the Viet Nam Association of Seafood Exporters and Producers, in the first 11 months of 2025, Viet Nam's total tilapia export turnover approximated $70 million, up 198 per cent on-year, with over $7 million recorded in November alone.

Vietnamese tilapia is now exported to multiple markets, with the US being a key destination and accounting for a significant share of total export value.

Vietnamese firms are also expanding tilapia exports to other markets, including Brazil, a major producer and exporter of tilapia.

Source: Vietnam Investment Review