Binh Dinh Fishery JSC: Investment Focused on Technology

Overcoming numerous difficulties arising from raw material shortages and trade barriers in importing markets in 2010, Binh Dinh Fishery Joint Stock Company managed to keep growth momentum thanks to its sound strategy, proven by a turnover of US$25 million.

 

During its first days, the company faced many difficulties owing to capital shortage and poor product category. To overcome these obstacles, the company joined hands with Hai Vuong Seafood Processing Company in Nha Trang City, Khanh Hoa province, which had strong financial capacity. With a good capital source, Binh Dinh Fishery Joint Stock Company imported modern processing equipment like fish slicers, fish grading machines, vacuum machines and rapid freezers.

 

Currently, the company is running two frozen shrimp plants and ensuring product quality for the most demanding markets. It also continues upgrading machines, equipment and technologies from developed countries in the world to turn out products of higher quality. The company defines export frozen shrimp as its key production line.

 

In 2010, raw material shortages forced prices up and processing companies had to compete for inputs. To deal with such difficulties, Binh Dinh Fishery Joint Stock Company sought material sources in other provinces and cities to ensure stable operation, and even imported from other nations. Director Cao Thi Kim Lan said: Each month, the company imports on average some 6,000 tonnes of aquatic materials for processing.

 

The company's products have been exported to many European countries, including France, Germany, Italy, the Netherlands and Greece. Especially, the US market accounts for 20 percent of the company’ exports.

 

Especially, in 2010, exporting was harder than other years as importing countries intensified trade protectionism and technical barriers. Impressively, the company rode out those difficulties thanks to the strategic vision of company leaders. Besides, the company did not have trouble with its exported products because of their consistent high quality.

 

In addition, the company recruits more skilled technicians and workers. At present, it has over 520 well-trained employees. Living standards of its employees are improved, as incomes are relatively high in comparison with other peers in the province.