SEAPRODEX Reaps US$20Mln from Seafood Exports

The Vietnam National Sea-products Corporation (SEAPRODEX) has so far this year fetched up more than US$20 million from seafood product exports according to the Vietnam Association of Seafood Exporters and Processors (VASEP).

 

More than half of the total revenue came from its joint stock companies.

 

In order to boost production and trading, the SEAPRODEX Company is going to shift into to holding model. This year, the company is expected to rake in total earnings of US$200 million in export turnover.

 

Seaprodex’s seafood products have been presented to huge markets in the world with the US, Japan and China emerging as its biggest costumers.

 

Its primary exports include fresh and frozen shrimp and fish, frozen and dried squid, octopus, scallops and shellfish.

 

Seaprodex, founded in 1995 and located in Ho Chi Minh city’s District 1, was one of the country's largest seafood producers with state capital reaching VND374 billion (USUS$23.67 million). But in recent years, the company operated with heavy losses and debts which eventually contributed to its downfall.

 

With 26 members and 7 joint venture and joint stock companies in the country, Seaprodex is a mainstay in seafood production-trade-import-export of the sea product field in Vietnam.

 

Seaprodex is the first Vietnamese company bearing a brand name registered with OMPI - GENEVE. The brand name Seaprodex has become a quality symbol for Vietnamese products in regard of international sales.