The financial crisis originated from the US has been evidently affecting Vietnamese exporting enterprises. Seafood consumption in EU and US has decreased sharply. However, Vinh Hoan Corp considers it an opportunity to penetrate other markets such as South America, the Middle East and Africa.
In the 2008 Conxemar exhibition held at Vigo, Spain in early October, besides contracts signed with Germany, the UK and France, Vinh Hoan Corp signed a contract, in which it will export a big amount of frozen pangasius fillet to Egypt, a new customer of Vinh Hoan Corp.
From November 2008, Vinh Hoan will export its first 20 containers of frozen pangasius fillet to Egypt and widen consuming market to Hungary.
South America, the Middle East and Africa are markets regarded as substitution markets of Vinh Hoan Corp when its traditional markets are facing financial crisis.