(VASEPNews) So far this year, Vietnam seafood companies has met many troubles in business as they lacked capital to operate and did not have much chance to access to bank credit or to get credit in right time. These factors have been having negative impacts on companies’ production.
According to Vietnam Association of Seafood Exporters and Producers (VASEP), over 90 percent of seafood companies demand to extend the bank’s line of credit worth from at least VND10 billion to VND1,400 billion. The money is to compensate their lack of working capital to maintain processing for export, as well as afford feed, raw material and fuel in farming.
In the second quarter of 2012, 92.3 percent of companies need bank credit to keep operations. The credit amount is from at least VND10 billion to VND500 billion to pay input cost, including feed for pangasius farming, processing and exporting.
53.85 percent of seafood companies want to get credit valued from at least VND2 billion to VND300 billion to develop business like injecting in whiteleg shrimp farming, buying new equipments and upgrading freezing capacity. In medium term, the credit will be used to build feed processing plant, develop shrimp farming areas and upgrade processing plant.