Incomfish Returns to US After Shrimp-Dumping Fracas
The Investment, Commercial and Fisheries Joint Stock Company, or Incomfish, has recently exported two containers of shrimp worth USUS$12.5 million to the US, marking a major return to the market for the company.
In 2005, Incomfish decided to refocus its strategy to look instead at Europe and Japan.
The decision was motivated by US customs officials who slapped Vietnam and five other countries with anti-dumping restrictions.
By the end of 2006, US exports accounted for only 10 per cent of Incomfish turnover.
Several factors have since persuaded executives to reconsider the United States, company Director Trinh Ba Hoang said, including orders from major importers.
The timing of the return also coincides with the Boston Seafood Show, a major annual event in North America attracting suppliers and buyers from around the world, which will be held next month.
Hoang predicts exports in terms of volume to the US will increase by 40 per cent this year, generating 50 per cent more in profit.
In 2007, Incomfish also plans to increase its chartered capital from VND118 billion (US$7.4 million) to VND168 billion (US$10.5 million). (VNS)
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