Song Tien Trading Co. Ltd Makes Great Leap Forward

Song Tien Trading Company Limited was set up in 2001 with an initial investment capital of VND13.8 billion (US$862,500). The company, situated in Binh Duc Commune, Chau Thanh District, Tien Giang Province, is engaged in manufacturing and processing frozen seafood and canned food both for export and local consumption. Despite starting with small sum of investment, the company has always put a great effort into overcoming development difficulties.

 

Like other companies, Song Tien Trading Co. Ltd always specifies that the price and quality of a product is the key to survival and development. Therefore, the company constantly upgrades equipment, improves product varieties, applies refining technologies instead of preliminary treatment, builds up and protects its trademark. From 2001 to 2004, the company valiantly invested VND23.6 billion (US$1.47 million) to upgrade its infrastructure and improve technologies. As a result, Song Tien Co. Ltd reaped higher business successes. The company has become one of the first seafood processing companies in Vietnam to be granted a special EU license and certificate to export molluscs to the European Union. The company also attaches much importance to environment protection. By installing a condensed arca production line, the company is the first company in Tien Giang Province to process refined seafood (canned seafood).

 

Until now, Song Tien Trading Co. Ltd has exported 15 products to 16 countries, including the EU. From 2001 to 2004, the company’s export revenues jumped from US$6.43 million to US$9 million while its profit grew from VND810 million (US$50,000) to VND2.2 billion (US$137,500). Its contribution to the State Budget also increased from VND259 million (US$16,187) to VND735 million (US$45,937).

 

With outstanding achievements, Song Tien Trading Co. Ltd has been awarded many noble prizes, such as the Third-class Labour Medal from the State President, Diploma of Merits from the Prime Minister and many merit diplomas from the Ministries of Trade and Finance, General Department of Taxation, Tien Giang Provincial People’s Committee, other branches and organisations.