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) On March 10, 2026, the Ho Chi Minh City People’s Committee issued Decision No. 1377/QD-UBND approving the Aquatic Animal Disease Prevention and Control Plan for the 2026–2030 period. The decision takes effect from the date of signing and replaces previous plans for the 2021–2030 period that had been issued prior to the administrative merger in Ba Ria – Vung Tau, Binh Duong, and Ho Chi Minh City.
(vasep.com.vn) In 2025, Chile imported more than USD 156 million worth of tuna, up 8.1% compared to the previous year and the highest level in the past five years. As the supply structure in this market is rapidly shifting, Vietnamese tuna is facing both opportunities to expand market share and increasing competitive pressure from Thailand, Colombia, and China.
(seafood.vasep.com.vn) Vinh Long Province is stepping up efforts to develop brackish water shrimp farming in a sustainable direction, identifying it as a key sector in its agricultural structure. In 2026, the province aims to reach around 71,300 hectares of shrimp farming, with an output of over 314,000 tons.
(seafood.vasep.com.vn) Ha Tinh Province is strengthening control over shrimp seed quality to minimize risks for the 2026 spring–summer farming season.
(seafood.vasep.com.vn) In February 2026, Vietnam’s pangasius exports reached USD 119 million, down slightly 5% year-on-year. However, thanks to strong performance in January, cumulative exports in the first two months of the year still reached USD 331 million, up 28% compared to the same period in 2025. Export activity slowed somewhat in February due to seasonal factors, particularly the Lunar New Year holiday, which disrupted production and shipments at many seafood processing enterprises.
(seafood.vasep.com.vn) Da Nang is accelerating the development of high-tech shrimp farming toward intensive production, disease control, and improved efficiency. Many shrimp farms have invested in automated environmental monitoring systems, continuously tracking indicators such as pH, dissolved oxygen, temperature, and salinity, enabling farmers to promptly adjust pond conditions and reduce disease risks.
(seafood.vasep.com.vn) The year 2025 is considered a turning point for Vietnam’s shrimp seed industry as the sector faces the need for strong transformation in technology, production management, and gradual self-sufficiency in broodstock supply. These factors are seen as key to improving seed quality and strengthening the competitiveness of the shrimp industry amid increasingly demanding market requirements.
(seafood.vasep.com.vn) In February 2026, Vietnam’s shrimp exports reached nearly USD 310 million, up 17% year-on-year. Cumulatively for the first two months of the year, shrimp export value totaled USD 690 million, an increase of 20% compared with the same period last year. Compared with the 22% growth recorded in January, the pace of increase in February slowed somewhat, reflecting seasonal factors as the Lunar New Year holiday partially disrupted processing and shipment activities. Nevertheless, the nearly 20% growth in the first two months indicates that shrimp orders from Vietnam are maintaining a more positive trend than in the same period last year.
(seafood.vasep.com.vn) According to the latest statistics for January 2026, Vietnam’s pangasius export value to major market blocs recorded encouraging growth compared with the same period last year, indicating that consumption demand is gradually recovering.
(seafood.vasep.com.vn) Vietnam’s seafood exports in February 2026 reached approximately USD 707 million, up 8% compared to the same period last year. Cumulatively, exports in the first two months of 2026 totaled USD 1.7 billion, an increase of 20.2% year-on-year. The results show that the sector’s recovery momentum has remained relatively solid following strong growth in January, although the pace slowed noticeably in February for several key products and major markets. Within the overall picture, shrimp continues to be the largest pillar, pangasius rebounds strongly, while tuna exports and the U.S. and Korean markets are sending signals that warrant closer monitoring. In March, seafood exports are expected to gain additional momentum from markets other than the U.S., potentially supporting stronger growth.
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