February 21, 2005

Vietnamese seafood exporters to build processing plants

Southern members of the Vietnam Association of Seafood Exporters and Processors (VASEP) have made large investments in expanding processing factories with the aim of increasing competitiveness in the world market.

The Minh Phu Seafood Import-Export Company in the southernmost province of Ca Mau has invested about VND30 billion (US$1.9 million) into building a plant designed with a processing capacity of 5,000 tonnes per year.

The An Giang Frozen Aqua-Products Enterprise (Afiex) in the Cuu Long (Mekong) Delta province of An Giang has just put into operation a 2,000-tonne-per-year facility, built at a cost of around VND20 billion (US$1.27 million). Last year, Afiex earned $12 million from seafood exports.

Can Tho Agriculture and Animal Products Import-Export Company (Cataco) plans to invest VND50 billion to raise the annual seafood processing capacity of its plant in the Tra Noc Industrial Zone to 12,000 tonnes during this year.

Cataco earned almost US$43 million from its exports last year.

Vietnam expects to export US$2.6 billion worth of seafood this year, an increase of 8.7 per cent from 2004, according to the Ministry of Fisheries.

Last year, Vietnam export seafood to 80 countries and territories, with the US being the largest market, followed by the EU, China, and the Hong Kong S.A.R.