Vietnam-Japan Seafood Joint Stock Company Raising Market Adaptability

Vietnam Business Forum’s reporter Anh Dao interviewed Mr Nguyen Van Nhut, general director of Vietnam-Japan Seafood Joint Stock Company, about the firm’s development.

 

Vietnam-Japan Seafood Co was set up in 2001 and privatised from 10 May, 2007, operating with 800 workers including 113 engineers and highly qualified workers. Our company specialises in producing and processing seafood products such as cuttlefish, shrimp and crab. Up to 70 per cent of our company’s products are exported to Japan, followed by the U.S. Thanks to its effective strategies, the firm has become one of 58 seafood exporters certified as not using antibiotics in production. Japanese partners have trusted the quality of our company’s products, with HACCP standard, for years.

 

In the first nine months this year, the company gained revenue of VND93,695 million (US$5.85 million), and profit rose 26 per cent. VISEACORP exports between 15 and 18 containers valued at US$1,200 billion each year. Vietnam-Japan Company plans to list shares on the Hochiminh Securities Exchange (HOSE) in the first quarter of 2008.

 

Market demand will increase in the coming time, especially European markets. Currently, the processing plant of the company in Vinh Loc Industrial Park cannot meet increasing demand. As a result, we are establishing a canned product factory in Long An Province to produce crab meat, fish and other seafood products for the U.S., Canada, EU and South Korea. Following that is the frozen tra and basa catfish plant in southern Ben Tre Province, with capacity of 200 tonnes/day.

 

Japan is a demanding market with a strict food safety examination system for imports. Therefore, Vietnamese businesses seeking to penetrate this market must ensure quality. Investment in modern production equipment for quality control is now a prerequisite for seafood exporters to Japan.