In the past decades, the shrimp industry has always played a pivotal role in making Vietnam one of the world's largest seafood exporters. The shift towards export-oriented production began in the early 1990s and has significantly contributed to the robust development of the shrimp industry. However, after a period of being a leading nation, Vietnam's position in the global shrimp market has significantly changed. High production costs, environmental pollution, diseases, antibiotic-contaminated products, and deficiencies in credit support, infrastructure, and high-skilled labor are challenges that the Vietnamese shrimp industry is currently facing. Alongside increasing consumer demand, Vietnam's shrimp industry is facing fierce competition from other countries, both regionally and globally. The global trend towards sustainable food production in terms of the environment and social responsibility presents an array of challenges for the shrimp industry. In this context, biological shrimp farming technology and profit-sharing cooperative models are proposed for all involved parties to contribute to the sustainable development of the shrimp industry. This approach could help reduce production costs, increase productivity, minimize environmental impacts, ensure product quality, facilitate source traceability, and meet global competitive demands. Furthermore, collaboration could generate opportunities for export and add further value to the shrimp industry in Vietnam.