CP Vietnam: Vietnam's shrimp industry still has a lot of potential for development

(seafood.vasep.com.vn) CP Vietnam and PAN Group have just signed a strategic cooperation agreement, thereby committing to support each other in expanding and developing business activities, exploiting the best potential of the market and strengths in the traditional business field.

CP Vietnam Vietnams shrimp industry still has a lot of potential for development

Today, CP Vietnam officially signed a strategic cooperation agreement with PAN Group, the two sides agreed to cooperate in developing the shrimp value chain, from seed to table, in order to raise the level of Vietnam's shrimp industry. 

Previously, CP Vietnam invested a 24.9% stake in Sao Ta Food Joint Stock Company (code FMC), a subsidiary of PAN Group. The two companies are also strategic business partners and have enjoyed a good relationship for many years.

"During the past 20 years, the shrimp industry has always played an important role in Vietnam's seafood exports, contributing about 40-45% of the total seafood export value, equivalent to 3.5-4 billion USD. Export growth has been very stable, averaging 5%/year for the past 5 years. We believe that Vietnam's shrimp industry still has a lot of potential for development, and this will still be one of the key industries. I believe and hope that, with the cooperation with PAN Group, we will jointly develop Fimex (FMC) to be stronger and more competitive in export markets.

With its experience in breeding and animal feed, CP believes that combining with FMC will create synergistic values for both businesses. Thereby joining hands to complete the government's target of 1.15 million tons of shrimp farming from now to 2025. Our goal when investing is to jointly develop FMC to become a leading enterprise in the industry and compete with major shrimp exporting countries in the world," said Mr. Montri Suwanposri."

C.P. Vietnam currently has 9 feed mills, 2 seafood processing plants in Hue city and Ben Tre province and 5 meat processing plants in Hanoi, Dong Nai, and Ho Chi Minh City and Binh Phuoc. The company operates in the field of Agro-Industry and closed food processing, mainly in the field of livestock, poultry and aquatic products. In particular, special attention is paid to the application of standard systems and modern technologies to production practices in Vietnam.


Ms Kim Thu

Email: kimthu@vasep.com.vn

Tel: 84.24.3771.5055 (ext 203)

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