Mongabay · Climate & nature

Vietnam's Fishers Face Economic Squeeze

Vietnamese fishers are struggling with rising costs, declining catches, and maritime disputes, exacerbated by global fuel prices and international fishing regulations.

A fuel crisis caused a nearly 19% drop in fishing activity in March-April 2026, making trips unprofitable and forcing many boats ashore. Increased diesel prices also raised costs for ice and food.

Declining fish stocks, unsustainable fishing, climate change, and international IUU fishing regulations add to the strain. The presence of Chinese vessels in contested waters further complicates the situation.

The Vietnamese government faces a conflict: relying on fishers for territorial claims while needing to meet EU standards to protect its $11.34 billion seafood export industry.

Vietnam received an EU 'yellow card' in 2017 for IUU fishing failures, impacting exports. Despite reforms, the warning remains, threatening a potential 'red card' and import ban.

In the South China Sea, Vietnam's fleet asserts territorial claims alongside fishing. Subsidies encourage trips into disputed areas, colloquially termed 'island protecting'.

Fuel subsidies are insufficient for trips into contested waters, especially after fuel prices spiked in March. Chinese vessels show no comparable pullback, potentially benefiting from higher costs for rivals.

Stricter enforcement has increased bureaucracy and corruption. Fishers face confrontations with Chinese vessels, and traditional fishing grounds are shrinking. Vietnam plans to reduce its fleet by 2030.

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