July 9, 2007

Vietnam's Minh Phu increases US export capital by US$20 million

Vietnamese shrimp exporter Minh Phu Seafood Corporation based in Ca Mau Province in the Mekong Delta region has been approved by the Ministry of Planning and Investment to increase its export investment capital in the United States to US$20 million.

The company plans to expand its business in importing and distributing aquatic products in the US market, which it started in 2002 with a modest investment of US$500,000.

Minh Phu exports to the US, Japan, Canada, Australia and Europe and by far, Vietnam's biggest shrimp processor both by volume and value.

Aside from shrimp, the company also processes other aquatic products for export.

Set up in 1992, the company earned export revenues of more than VND 2.3 trillion yearly and now have shares listed under the MPC code at the Ha Noi Securities Trading Centre and will move to Ho Chi Minh City bourse late this year.