MINH PHU SEAFOOD CORP: The goal is to win 25% of the world shrimp market share by 2045

(seafood.vasep.com.vn) Minh Phu Seafood Corp announced that the company aims at accounting for 25% of the world shrimp market share by 2045. This goal is projected to be achieved by Minh Phu through short, medium and long-term strategies, particularly the 2021-2025 strategy with the key objective being building a green and clean and sustainable shrimp value chain of Vietnam, with competitive prices compared to India, Indonesia and Ecuador, improving processing productivity and reducing COGS.
MINH PHU SEAFOOD CORP The goal is to win 25 of the world shrimp market share by 2045
Minh Phu's vannamei product

According to the plan, MINH PHU SEAFOOD CORP will accelerate the construction of a chain of projects of Minh Phu seafood processing factory in Khanh An Industrial Park (Ca Mau), aiming to compete in shrimp processing and exporting technology on the world market. The projects include the construction of a 3-stage centralized water treatment system, each stage with a treatment capacity of 2,700 m3/day and covers an area of ​​24.5 ha. All projects adopt a technology to reuse wastewater, rainwater and surface water for shrimp processing for export.

The project is fully equipped with facilities, and modern processing machinery and also invests in social housing, housing care and welfare for employees of the Group.

The scale of the project chain includes 4 projects: Minh Phat Seafood Processing Factory, Minh Qui Seafood Processing Factory, Minh Phu Seafood Processing Factory, with a capacity of 18,000 tons/year; and Quang Minh packaging factory, with a capacity of 5,000 tons/year. The project is implemented according to the circular economy and carbon balance in the whole Minh Phu shrimp value chain.

MINH PHU SEAFOOD CORP sets out a plan in 2022 to achieve revenue of over VND 21 trillion, pre-tax profit of more than VND 1,413 billion, and after-tax profit of about VND 1,286 billion. This year, the company plans to process 71.8 thousand tons of shrimp for general sales and export.

Compiled by Minh Trang

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Ms Kim Thu

Email: kimthu@vasep.com.vn

Tel: 84.24.3771.5055 (ext 203)

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