Vietnhat Seafood Corp: Seizing An Opportunity, Making A Breakthrough

In April 8, 2010, Vietnhat Seafood Corporation(Visea Corp) with charter capital of 86.8 billion Dong officially listed its shares at Ho Chi Minh City Securities Exchange (Stock code:VNH). By focusing on exporting markets, irrespective of difficulties in the Vietnam Seafood sector in the past time, Visea Corp’s business and production activities is growing steadily, guaranteeing stable lives for its workers.

Open new markets

Visea Corp began operation in December 2000, processing and exporting seafood. In over 10 years of development, Visea Corp has become a famous brand in many international markets. Visea Corp’s equitization in 2007 was a notable breakthrough, since then Visea Corp has been upholding collective strength, investing in modern equipment, building business strategy, and constantly diversifying its export products for stable development.

Beside modern machinery and equipment, experienced and professional management and highly skilled workers, Visea Corp’s main strength lies in its variety of export products, up to 100 product lines, of which many high-class products are exported to major markets like Singapore, Japan, EU and the US. In addition, Visea Corp always puts top priority on food hygiene & safety, considering quality & prestige a foundation for development. Visea Corp pays strong attention to all manufacturing processes, from input materials to finished products, guaranteeing food safety standards and creating a healthy working environment for workers. These efforts affirm Visea Corp’s business philosophy, besides focusing on trade promotion activities, seeking new markets and promoting products, Visea Corp stringently implements manufacturing process standards and closely examines product quality.

Being one of the few who meet the requirements of most certificates of food hygiene & safety, qualified for exporting to high standard & potential markets including Japan, Korea and the EU, Visea Corp has many available advantages to develop & expand export markets. Visea Corp’s products are well-received by international customers. While making tireless efforts on diversifying products; strengthening production of high value added products; intensifying marketing activities; expanding consumption markets while maintaining traditional products and markets, in 2009 Visea Corp’s turnover was only VND73.57 billion, a decrease of 49.17% compared with 2008 due to impacts of the global economic crisis, but its pre-tax profit reached VND11.28 billion, an increase of 48.62% compared with 2008. This acknowledges the tireless efforts of leaders, staff and workers, at the same time it is also a motivation encouraging them to make more effort, to strive for the active and stable development of Visea Corp.

Strengthening competitive ability

Not satisfied with achieved results, Visea Corp has mapped out development directions for the coming time to affirm its potential in the process of integration and development. In 2010 Visea Corp expects reach to US$ 16 million turnover, US$ 14.4 million in 2011 and US$ 16 million in 2012. To achieve the above targets, Visea Corp will continue to expand to other exporting markets, to strengthen exports of high value added products such as breaded cat tiger shrimp, fried cat tiger shrimp, potatoes shrimp and crabmeat stuffed in shell. At the same time, Visea Corp will put a strong focus on the Japan market when the trade agreement between Vietnam and Japan is signed and takes effect. This is a good opportunity for Visea Corp to increase its market share and consumption volume in this traditional market.

Over the last 10 years, Visea Corp has taken to heart the importance of prestige. Prestige is one of the key points creating the Vietnhat brand. To achieve this, Visea Corp always pays attention to productivity and quality, as well as food hygiene & safety. So the company receives no complaints about quality from its customers in all time of operation.

To build new markets, Visea Corp will focus on developing management capability and the competitiveness of available products. At the same time, Visea Corp also focuses on training activities, to be well-prepared for firm development in the context of severe competition. In addition, in 2010, apart from Phu Nhat Canned Food Factory with a capacity of 30 tons of finished products per day and a cold storage of capacity of 1000 tons, Visea Corp will open a packaging printing and production factory and a tra & basa fish processing factory with a capacity of 120 tons of material per day to effectively supply the increasing demand of international markets.

Luck will come to those who seize an opportunity. Through advantages of integration and development process, Visea Corp will make a new breakthrough. Unanimity and solidarity of employees and workers, along with right investment policies will lead to success and continuous development in the future. Visea Corp is trying its best to affirm itself as a leading brand in the Vietnam seafood sector.

VCCI

Tags: Vietnam Seafood, Vietnhat Seafood Corp