(vasep.com.vn) In first three
Compared to the same period of 2010, Baseafood reported a drop of 20 percent in export volume; however, its value increased considerably because the company sold seafood products at high price and kept high proportion of value added products in the export structure.
Currently, Baseafood is shipping seafood products to 40 countries in Europe, Asia and American. As it focused on processing value added products and find raw material supplies from outside the country, Baseafood could complete orders in time and gain more export revenue.
According to Mr. Dung, the majority of the company’s importers are interested in value added products including ready-to-eat products, frozen seafood and dried seafood like mixed seafood, frozen whole squid, octopus, dried bream, surimi, cuttle fish sashimi…
Since 2005, Baseafood has focused on distributing its products in the local market by pushing the proportion of domestic products in production structure from 2 percent to 22 percent. Baseafood processed and controlls its products based on international standards such as ISO standards, HACCP, Europe CODE, and others standards required by Japan and South Korea. Therefore, Baseafood products was popular with Vietnam consumers, bringing to the company a revenue of VND70 billion. “Strategy of Baseafood is to enhance consumption in both local and foreign markets in a view to set the percentage of domestic and export products at 30 percent and 70 percent, respectively,” said Nguyen Cong Huyen, Vice Director of Baseafood.
In recents years, global financial recession has had large impact onprocessing and trading operation of Baseafood. All its strategic markets were reducing orders, including Russia – the largest partner accounting for 35 percent of its revenue. In addition, all production costs like raw material, fuel, electricity, water were soaring up. Moreover, crucial competition in purchasing raw materials put the company into trouble. In such situation, Baseafood tried to overcome difficulties, keeping the company’s reputation with the motto “Professional – Dynamic – Developed Company”. Baseafood prioritize to expand domestic and foreign markets, as well as investing in new technologies for processing, satisfying requirements of customers.
Besides, the company also paid attention to improving living conditions for its staffs and workers by repairing 10 – 30 houses for poor workers, organizing trips and tours in holidays, particularly providing VND1.8 billion of loans to poor workers to help them out of poverty. Baseafood became one of 10 leading enterprises in Ba Ria – Vung Tau province and was awarded by the local People’s Committee on 13 October 2011.