The Daily cited the provincial investment promotion centre as saying that the 800 billion VND (36.7 million USD) project in My Thanh commune will produce quality shrimp for export to Europe, the United States, Japan and other markets.
In addition, the company will sell shrimp to seafood processing enterprises in the province and other localities in Vietnam.
The investor is allowed to set up a shrimp farming area of 100 hectares in phase one of the project. Later, the province will allocate the remaining 200 hectares to the firm to expand production and construct a processing factory.
Vietnam-Australia Seafood Company plans to use technologies including Israeli greenhouse, water filtration and treatment of the US and the Netherlands, and bio-substances for its shrimp farm in the central province.
The enterprise said these technologies are suitable to weather conditions in Vietnam and can help reduce costs and risks and increase yields. The water filtration and treatment technologies will ensure a stable water environment for shrimp and do not cause pollution.
Phu My district has favorable conditions for shrimp farms. However, many shrimp farms consume too much freshwater and discharge untreated wastewater directly to the environment. Therefore, the company’s shrimp farming model is encouraged to back sustainable shrimp farming and improvement of economic efficiency.
The Binh Dinh Investment Promotion Centre said the project is listed in the sectors the Government encourages as stated in Decree 210 and the province’s Decision 3480/QD-UBND to call for investments in agriculture in 2014-2020. It is also in line with the province’s zoning plan for hi-tech shrimp farming until 2020 with a vision towards 2030.
Apart from Binh Dinh province, Vietnam-Australia Seafood Company has applied greenhouse technology to over 50 hectares under shrimp cultivation in the Mekong Delta province of Bac Lieu, according to the Daily.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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