Can Tho Import - Export Seafood Joint Stock Company (CASEAMEX), could not stay out of the storm of the economic crisis. However, with its experience and sound business strategies, Caseamex still makes success. The reporter of Vietnam Business Forum had a talk with Mr. Vo Dong Duc, General Director of Caseamex.
Could you briefly introduce CASEAMEX?
Caseamex was formerly a seafood processing enterprise affiliated to CATACO Company. Caseamex has experience in exported seafood processing. The company was the first to build a ba sa catfish processing factory in An Giang province as well as in Vietnam. In 1992, when the market was not favourable, Caseamex chose tra catfish to replace ba sa catfish. This move quickly brought in success for the company as its products deeply penetrated to the European and the US. With stable operation of exported tra catfish establishment, the company invested in export shrimp processing in 1995. The firm quickly became one of the five largest seafood companies and the first to supply European markets.
In 2006, Caseamex went public, becoming a good-performing seafood exporter of the CATACO Corp. Currently, Caseamex factories are quite modern and synchronous, meeting international standards of BRC, HALAL,GMP, SSOP, HACCP, ISO 9001-2000, and SQF 2000. It is applying the SQF 1000 standard system to supply clean materials for its production.
In recent years, market developments are quite complicated. Especially the global economic and financial crisis has left negative impacts on operations of many enterprises. In that context, how has Caseamex responded?
Possibly speaking, the fishery industry has been the worst hit in many aspects like capital, market and materials. In 2008, Caseamex made a total turnover of over VND579.7 billion and a net profit of more than VND13.1 billion. The annual general meeting of Caseamex approved the 21 per cent dividend payout, including 18 per cent in cash and 3 per cent in stock.
However, seafood industries are encountering many difficulties. For instance, importers from the US and Europe terminated orders, sending many Vietnamese enterprises, especially smaller entities, into trouble.
Which measures, in your opinion, are necessary to solve difficulties of the Vietnamese fishery industry?
In my opinion, in addition to efforts of enterprises, the State should also apply suitable policies to tackle industry difficulties, provide more soft loans, reduce import taxes on materials, enhance quality management, accelerate trade promotion activities and negotiate with importers in Russia and the US to solve export difficulties.
Duy Hanh
Vietnamese
