Navico, or Nam Viet Joint Stock Company, stands as one of Vietnam's pioneering enterprises in the farming, processing, and export of aquatic products, particularly pangasius (catfish). Established in 2000 in An Giang Province – the largest aquaculture hub in the Mekong Delta – Navico has solidified its position in the international market through superior product quality and a commitment to sustainable development. On April 4, 2025, Navico signed a green trade credit agreement with United Overseas Bank (Vietnam) (UOB Vietnam), marking a significant milestone in its journey toward green transformation.
Strategic partnership for sustainability
The agreement between UOB Vietnam and Navico goes beyond a mere financial transaction; it reflects a strong commitment from both parties to advance the aquaculture industry sustainably. Through this green trade credit, UOB Vietnam supports Navico in optimizing its supply chain, investing in renewable energy, and implementing circular economy initiatives. This aligns with Navico’s long-term strategy to achieve Net Zero goals and reinforce its leadership in the sustainable seafood sector.
Mr. Doan Toi, General Director of Navico, emphasized: “Sustainable development is the guiding principle for all our activities. Our partnership with UOB Vietnam enables us to enhance ESG (Environmental, Social, and Governance) standards while driving further investment in green solutions.” Currently, Navico manages over 1,100 hectares of farming areas, with 600 hectares utilizing advanced technology, forming Vietnam’s largest closed-loop pangasius supply chain – from breeding to export-ready products.
The role of green financing
Vietnam ranks as the world’s third-largest seafood exporter, achieving a trade value of 10 billion USD in 2024, a 12.7% increase from the previous year. Pangasius alone contributes approximately 2 billion USD. However, the increasingly stringent sustainability standards of international markets require companies like Navico to adapt to maintain their competitive edge. Green financing from UOB Vietnam not only provides capital but also serves as a foundation for Navico to meet rigorous ESG criteria, such as those outlined by the Asia Pacific Loan Market Association (APLMA).
Mr. Lim Dyi Chang, Head of Wholesale Banking at UOB Vietnam, stated: “Vietnam is steadily establishing its role in the global sustainable food supply chain. Our collaboration with Navico demonstrates our shared commitment to promoting green growth.” Since 2021, UOB Vietnam has partnered with Navico on projects such as rooftop solar installations, helping the company reduce costs and carbon emissions.
Future vision
This partnership benefits not only Navico but also contributes to the sustainable development of Vietnam’s seafood industry. With UOB Vietnam’s support, Navico is accelerating its roadmap to achieve environmental goals while enhancing its global competitiveness. This collaboration underscores how green financing is becoming a vital catalyst, enabling Vietnamese businesses to adapt and thrive in a world increasingly focused on sustainability.
