Navico, formerly known as Nam Viet Co. Ltd was established in 1993 with an initial charter capital of 27 billion VND and its main business function is civil and industrial construction.
In 2000, the company decided to expand its business scope to seafood processing, starting with the construction of My Quy seafood freezing factory with a total investment of 30.8 billion VND, specializing in processing and exporting frozen pangasius.
During the period from 2001 to 2004, the company invested in two more frozen seafood producing factories, namely Nam Viet factory (renamed from My Quy frozen seafood factory) and Thai Binh Duong factory with an average total processing capacity of 500 tons of fish/day.
In terms of business activities, looking back in 2021, Navico recorded net revenue of 3.494 billion VND, a slight increase over the same period; profit after tax reached 127 billion VND, down 36.6% compared to 2020. The decrease in profit was due to the increase in interest and selling expenses resulting from higher freight and transportation costs.
In the first 4 months of 2022, Navico recorded revenue of about 1.644 billion VND, completing 34% of the year plan. Navico's revenue structure in April comes from three main segments, of which fish products account for 78%, fish oil accounts for 10% and fish cakes account for 8% of total revenue.
Profit after tax of Navico reached 323 billion VND, achieving 45% of the whole year target. Gross profit margin improved from 19% to 32% after 4 months of business.
In 2022, Navico targets its total revenue of 4.900 billion VND and pre-tax profit of 720 billion VND, up 40.2% and nearly 377% respectively compared to the implementation in 2021.
Compiled by Thuy Linh
(seafood.vasep.com.vn) According to the Ca Mau Department of Agriculture and Rural Development, Ca Mau province has achieved significant, comprehensive and substantive progress in combating IUU fishing in 2025, successfully fulfilling all tasks directed by the central government and strengthening fisheries governance. These efforts have established a solid foundation for the nationwide effort to lift the EC’s "yellow card" warning.
(seafood.vasep.com.vn) Ca Mau has exceeded its 2025 production targets, reaching nearly 595,000 tons of shrimp. This milestone reinforces the province’s position as Vietnam’s leading shrimp producer and a bright spot in the country’s seafood sector.
(seafood.vasep.com.vn) According to Vietnam Customs data, cumulative shrimp exports from the beginning of the year through November reached $4.3 billion, up 21% year-on-year, continuing to serve as the primary growth driver of the entire seafood sector. In November alone, export turnover amounted to $393 million, up 14%.
(seafood.vasep.com.vn) In 2025, the fisheries sector continued to stand out as a bright spot in Ca Mau’s economic landscape, maintaining positive growth in both output and value.
(seafood.vasep.com.vn) By the end of November 2025, Vietnam’s total pangasius export turnover had exceeded the $2 billion threshold, registering a 9% compared with the same period in 2024. In November alone, pangasius exports reached $195 million, also posting a 9% increase year-on-year, underscoring a stable recovery trajectory for the sector in the final months of the year.
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(seafood.vasep.com.vn) An Giang is focusing on expanding climate-adaptive marine aquaculture models, aiming for safe and sustainable production. This approach not only enhances economic efficiency but also helps fishermen stabilize their livelihoods amid weather fluctuations.
(seafood.vasep.com.vn) In the first 10 months of 2025, Vietnam’s pangasius export value to China (including Mainland China and Hong Kong) reached $483 million, up 1% compared to the same period in 2024. October alone posted $73 million, a strong 19% increase year-on-year. The Chinese market currently accounts for nearly 27% of Vietnam’s total pangasius export value.
(seafood.vasep.com.vn) According to data from Vietnam Customs, the country’s lobster exports posted another strong month in October 2025, reaching $93 million - a 75% increase from the same month in 2024. This performance extends the sector’s impressive growth streak from earlier in the year, pushing cumulative exports for the first 10 months to $712 million, up an extraordinary 135% year-over-year. Within the product mix, green lobster remained the dominant driver, accounting for 98% of total export value, with $700 million recorded in the first 10 months - a 141% jump year-on-year. In contrast, exports of spiny lobster and other lobster varieties declined slightly by 22% and 1%, respectively, indicating that market demand is becoming increasingly concentrated on the most sought-after product line.
(seafood.vasep.com.vn) Currently, Da Nang City has no fishing vessels detained, sanctioned by foreign authorities, or criminally prosecuted for IUU fishing violations. Patrols, monitoring of marine fishing activities, and handling of violations have been prioritized by competent forces, significantly reducing nearshore fishing infringements.
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