Last updated: Tuesday, February 19, 2019


IDI Pursuing Sustainable Development

Posted: Tuesday, June 19, 2018

Though facing many barriers to trade and a series of strict standards raised by many countries, Vietnam's pangasius products have always surpassed these requirements to remain attractive on the world market. This is thanks to the products are strictly controlled from the stage of farming, harvesting, processing and export.

Currently, there are only thirteen out of 60 Vietnamese enterprises qualified for export to the US market and the International Development & Investment Corporation (IDI) is among the top of the list. Deciding to take advantage of that, IDI adopts "sustainable ideals" alongside "spectacular growth goals". And while many of the businesses, including the so-called "pangasius kings", are suffering loss, IDI has emerged as the champion with a record profit.

Persuasive occupation
Pursuing high growth targets is indispensable for every business. However, that strategy is only meaningful when the business knows how to harmonise its interests with the society. The model of IDI was initiated by the company in 2007 and for more than 10 years, it has been maintained and increasingly affected thousands of pangasius farming households in the Mekong Delta. They must cooperate with seafood export processing enterprises if they want to be sustainable with this business.

IDI has formed the indispensable linkage of the fishery industry in the professional trend and it is no wonder that among the 150 enterprises involved in pangasius fisheries, the IDI is considered a model of efficiency in the establishment of linkages in the past.

Every year, from this model, 80 farming households provide about 80,000 tonnes of raw fish for two factories of IDI to operate continuously. Forming the linkage area also means that the IDI automatically takes full control of the source material: stable in quantity, quality control, traceability to meet export markets’ demand.

From September 1, 2017, catfish and pangasius are officially recognised by the US government as one catfish. Accordingly, pangasius, whether domestically produced or imported, is subject to US Department of Agriculture (USDA) surveillance. It is required that quality management system from breeding - processing plant - distribution system to consumers must be similar to the requirements of the United States.

Sharing awareness, partnering with sustainable development
Development is rewarding, but more important is sustainability. In its operating strategy, IDI is always ready to share the perception of sustainable development ideal for partners: Households - customers - staff to local authorities. This is very important to the company because once the relationship is put in the right place, it receives the loyalty - the companionship of the parties. Building relationships with sincerity, openness has become the culture of IDI.

Accompanying the farmers, choosing a good investment position, short-term and long-term human resources training, humanism in dealing with workers, closing value chains and having strategy stable market development, IDI is not only receiving financial revenue, but rather on how to behave in a business culture.

With a keen eye and a foresight, IDI has recognised the importance of self-reliance on raw materials to stabilise production and business, as well as farming areas associated with farmers in An Giang, Can Tho, Dong Thap.

IDI is one of the top three seafood exporters in Vietnam. Its market is expanding to 150 countries such as USA, EU, ASEAN, Africa, South America, China, India, etc. In 2018, IDI expects to set new highs after spectacularly surpassing technical barriers from the US market.

Quoc Thai

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