The project is developed by Navico’s Nam Việt Bình Phú Seafood Co, Ltd, on an area of 600 hectares, and will represent a total investment of VND 4 trillion (USD 171.9 million) in the district’s Bình Phú Commune
It will be the country’s largest-ever tra fish farming project.
The project will have one zone devoted to high-quality fingerlings of tra fish with an investment of VNĐ1 trillion and an annual capacity of 360 million units for the local market.
The other zone will use high-tech applications to rear commercial tra fish with an investment of VNĐ3 trillion and an annual capacity of 200,000 tonnes for export processing.
According to Navico, one of the project’s goals is to complete a sustainable value chain. With this project, Navico will have its own supply meet export processing demand and improve fingerling production. That will help the corporation increase exports in the future.
Đoàn Tới, Navico chairman, said the company’s total export value is expected to double to between US$250 million and 300 million, including $150 million contributed by the Bình Phú project when it comes into operation.
Fingerling shortages have been a key problem for the domestic tra fish industry, leading to a lack of raw material for export processing. Over the past three years, the lack of raw materials has pushed up the price of tra fish by 66 per cent.
Development of the production chain will help Navico lower production costs and increase the competitiveness of its products.
In 2018, Navico gained VNĐ4.1 trillion in revenue, of which, export value reached $150 million and after-tax profit was more than VNĐ600 billion. Navico’s main export markets are South America, the Middle East, Europe and Asia.
VNS
(seafood.vasep.com.vn) In recent years, the US has consistently been Vietnam’s largest seafood export market. Over the past five years, seafood export turnover to the US has ranged from 1.5 billion USD to 2.1 billion USD anually. Despite facing strict protective policies such as anti-dumping and countervailing duties, U.S. market demand remains high, and the quality of Vietnamese seafood continues to improve, helping to maintain and expand its position in this market.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
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