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Incomfish: Re-entering the U.S. market
May 11, 2007, 10:40 AM

Investment Commerce Fisheries Corporation (Incomfish), has recently exported two containers of shrimp worth US$12.5 million to the U.S., marking a major return to the market for the company.

In 2005, Incomfish decided to refocus its strategy to look instead at Europe and Japan. The decision was motivated by U.S. customs officials who slapped Vietnam and five other countries with anti-dumping restrictions.

By the end of 2006, U.S. exports accounted for only 10 percent of Incomfish turnover.

Several factors have since persuaded executives to reconsider the U.S., says company Director Trinh Ba Hoang, including orders from major importers. The timing of the return also coincides with the Boston Seafood Show, a major annual event in North America attracting suppliers and buyers from around the world.

Hoang predicts exports in terms of volume to the U.S. will increase by 40 percent this year, generating 50 percent more profit.

In 2007, Incomfish also plans to increase its chartered capital from VND118 billion (US$7.4 million) to VND168 billion (US$10.5 million).

Source: (Source: Vietfish International - VASEP)
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