Thien Phu Seafood Dynamic and Innovative to Overcome Challenges

In recent years, the production and export of local seafood, particularly shrimp export, has been facing difficulties due to economic fluctuations, technical barriers imposed by importing countries, limited domestic raw material sources, rising input costs, etc. In this context, to steadily overcome difficulties and keep the operation of the business stable and efficient, Thien Phu Seafood has always promoted its dynamism and creativity. General Director Ho Thi Kieng shared: "In the hard times, Thien Phu Seafood's leaders always find its own direction consistent with their capacities to be able to overcome all obstacles. Particularly in the difficult context, saving costs is always the leading solution for Thien Phu Seafood to stabilize and develop business operation. Accordingly, besides reviewing the management process, the company will also focus on restructuring and reorganization production in order to minimize costs, research technological innovation to improve productivity and product quality, uphold the spirit of internal solidarity, pay attention to and improve the quality of employees' life, and have preferential policies for employees so that they feel more connected to the common roof of "Thien Phu Seafood".

 

The more difficult the market faces, the greater attention Thien Phu Seafood will pay to improving its product quality and enhancing competitiveness, towards increasing exports and strongly asserting its position in the market. Thien Phu Seafood is currently one of the leading seafood companies in updating and applying quality management system which can meet food hygiene and safety at the highest level such as HACCP, BRC, ISO 9001: 2000, GLOBAL GAP, certificate for frozen shrimp exported into the European market with code 502 DL and many other certificates. Thien Phu Seafood’s products fully meet the toughest standards of the most demanding markets in the world, which can reduce to the minimum the risks of changing requirements of export markets. Besides efforts to improve product quality, Thien Phu Seafood also strongly focuses on product diversification and value-added products to enhance the value of exported products and open effective ways to penetrate into new markets, particularly difficult ones. The Company currently has 10 value-added products which can meet the market demand and is investing in building more factories and installing modern machinery and equipment to research and develop new product lines with high added value.

 

To be active in clean material sources to meet the production scale of the factories, Thien Phu Seafood has implemented a closed shrimp farming model with vertical integration chain from food production to breed, breeding, raising, processing and consuming. Meanwhile the company also strengthens links with local farmers to expand clean shrimp raising areas. In these areas, the Company regularly and strictly monitors the origin and quality of all input factors such as seed, feed, drugs and chemicals. Thanks to a closed process from breeding to manufacturing, ingredient quality and processed seafood of Thien Phu Seafood always remains stable and export markets are maintained. Also it is its own creative direction which has helped Thien Phu Seafood overcome all difficulties and changes in the market to stand firm to the present time. Having the large-scale breeding material area with synchronized planning and processing factory with modern production lines, Thien Phu Seafood can be fully active in production and business to effectively meet large orders and ensure the supply of products for various markets at the same time.

 

In addition, the efforts to overcome difficulties of Thien Phu Seafood were clearly shown in the dynamic process of reaching out to search and explore new potential markets. Officially going into operation in 2006, when the fisheries sector entered an extremely difficult phase, besides putting efforts to improve product quality, Thien Phu Seafood has actively enhanced trade promotional activities, participated in fairs and exhibitions, carried out market research as well as learned from the countries with good processed seafood products. In the context of the "gates" to the main export markets such as the US and EU gradually shrinking, the company is also looking for a dynamic way to reach out to new potential markets which not many businesses paid attention to at that time, particularly those in Asian area such as Japan, Taiwan, Hongkong, Korea, Singapore, etc. Currently, Asian area accounts for 30 percent of the export turnover of Thien Phu Seafood, next to its traditional export market, the EU (70 percent). This is an important system for Thien Phu Seafood to continue to expand into new potential markets in the region.

 

Dynamism, creativity to overcome difficulties, determination to uphold quality and prestige, so far Thien Phu Seafood’s products are present in many countries and regions. Accordingly, brand reputation of Thien Phu Seafood has been increasingly affirmed, which contributes to improving the position of Vietnam’s seafood in the international arena. In the current difficult situation of the fisheries sector, Thien Phu Seafood is still able to ensure the material and spiritual life of more than 500 employees with wages for workers ranging from VND 4-6 million a person and for managers VND 10-15 million a person. More importantly, under any circumstance, Thien Phu Seafood has always fulfilled prestige with partners and customers through strict quality assurance and delivery schedule as committed in contracts and met effectively customer’s requirements. This is the highest achievement that the company has achieved, which reflects the enormous efforts in the development of Thien Phu Seafood.

 

Besides the efforts to improve the efficiency of production and business activities, creating jobs and stable incomes for employees, contributing to improving exports of Bac Lieu province, Thien Phu Seafood is also a pioneering enterprise who actively involves in social welfare activities in the province such as contributing to the fund for the poor, the Gratitude Fund, the fund to support people in flood and disaster affected areas. It is known that in 2014, the whole employees of the company contributed more than VND 3.4 billion to charity activities. Thanks to its tireless efforts both in production and business activities and social welfare work, Thien Phu Seafood has been honoured with numerous noble awards and titles by Bac Lieu province and received Certificate of Merit and the National Quality Gold Award in 2013 by the Prime Minister.

 

Regarding future plans, General Director Ho Thi Kieng said that it was expected that in the upcoming years, seafood export market would continue to face difficulty and risks. In this context, the development direction of Thien Phu Seafood is to invest in depth, under the closed production process from food to breed, raising to processing and export, contributing to improving the added value of products. Besides maintaining the traditional market, Thien Phu Seafood will also explore new potential markets, on the one hand to seize the initiative when the traditional market changes, on the other hand to raise export turnover, increase profit, stabilize and improve incomes for workers.