The reporter of the Vietnam Business Forum has granted an exclusive talk with Mr Dang Thanh Diem, Director of Hung Thinh Fish Sauce Production and Trading Co., Ltd, on his company’s operations and achievements in the past time.
How has the global economic crisis inflicted on operations of Hung Thinh?
The global economic crisis has adversely impacted the Vietnamese economy on a wide scale and the fish sauce industry impossibly shelters from the economic woe. The company lacked capital for reinvestment while customers cut their contracts on denting demand. However, with sound forecasts and a creative business strategy for the period of economic downturn, Hung Thinh has gradually prepared financial sources to take the advantage in the crisis time as well as created a wider source of customers. Thus, the company’s operations are still in good form in the time of global economic crisis.
Not only focusing on intensifying the management over quality to ensure the highest food safety, the company also strengthens its workforce to optimise production and managerial activities. Together with that, Hung Thinh tries to cut product cost prices.
The company’s efforts were recognised by prestigious awards such as Vietnam High Quality Goods Award in 11 consecutive years voted by Vietnamese consumers and the Top 500 Vietnamese Companies 2008. At present, the company has 350 brined tanks with individual capacity of 10 - 15 tonnes of fish. Annually, we can produce 4.5 million litres of fish sauce.
To enhance the competitiveness, what has Hung Thinh prepared?
To create premium fish sauce, the processing as well as material selection are put under strict management by Hung Thinh. Material fishes are caught by the company’s fishing boats and salted offshore to ensure the highest quality of fish. Then, the materials are kept. After 12 months kept in wooden containers, the fish sauce is extracted. During the extracting process, salt content and microorganisms are always checked carefully. Samples of extracted fish sauce are taken to well-equipped labs for microorganism and protein examination. Remarkably, Hung Thinh does not use flavour enhancers, aromatic spices, harmful preservatives, harmful bacteria, urea substances but use the essence of fish. Therefore, the fish sauce is natural and harmless to human health. Not only keeping secret traditional methods and applying strict quality regimes, the company also employs advanced packaging lines to ensure the stable quality of its products.
The company has obtained the qualification certificates from the European Union and the United States, two most demanding markets in the world.
At present, Hung Thinh’s products have been sold in supermarket chains in the country (except Metro), traditional distribution channels and retail outlets. Besides, the company is now planning to expand its presence to foreign markets to introduce the flavour of Vietnamese unique seasoning to the world.
What is your opinion about the blue-print administrative - economic special zone on Phu Quoc Island?
From an angle of a company in Phu Quoc, we support the formation of an administrative - economic special zone on the island. This will help create more jobs for islanders as well as give a facelift to the island. We expect to see a world-class administrative - economic special zone to match its potential, especially tourism.
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