MAR Advisors to enhance profitability and quality of seafood in Vietnam with support from SDGs fund
Consultancy firm MAR Advisors has been awarded a grant from the Icelandic Ministry for Foreign Affairs' Sustainable Development Goals Partnership Fund to explore opportunities for better market access for Vietnamese Seafood in Europe. A large proportion of seafood from developing countries goes through a complicated route to reach markets and businesses in the value chain have no incentives to promote the origin of the product. Vietnam produces 7-8 million tons of seafood every year, making it the world’s fourth largest producer of seafood. More than half of the production comes from farms, for example shrimp and pangasius. A large proportion of production is in the hands of relatively small businesses with limited access to European markets.
The preliminary study is an opportunity to examine the feasibility of establishing a simpler and more efficient value chain for seafood in Vietnam, in cooperation with producers of pangasius and shrimp. The goal is to enhance the profitability of producers and ensure better product quality for consumers. This way, the project works towards the Sustainable Development Goals of decent work and economic growth (no. 8), responsible consumption and production (no. 12) and life below water (no 14). Close cooperation between producers and vendors and technical solutions that meet consumer demand for transparency can lead to better efficiency and higher prices for producers. If the project is successful, a follow-up project will be initiated with more companies in Vietnam and possibly in neighbouring countries as well. Planned completion of the preliminary study is January 2023.
MAR Advisors is a specialized seafood and infrastructure advisory firm and its partners in Vietnam will be Maranda ltd. and other smaller businesses operating on the banks of the Mekong river.
The Sustainable Development Goals Partnership Fund aims to support Icelandic companies who are interested in advancing the United Nations' Sustainable Development Goals through cooperative projects in developing countries. Further information on the fund is available at www.mfa.is/sdgfund. The next deadline for applications is 3 October 2022.
