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10 largest seafood enterprises in Vietnam

10 largest seafood enterprises in Vietnam

Monday 21, 10 2019
The aquaculture sector has always been the spearhead of the Vietnam’s economy though it’s facing many difficulties from natural disasters. Do you know which companies, seafood enterprises are at the forefront of the aquaculture sector and contribute
The aquaculture sector has always been the spearhead of the Vietnam’s economy though it’s facing many difficulties from natural disasters. Do you know which companies, seafood enterprises are at the forefront of the aquaculture sector and contribute greatly to the growth of the industry? For those who are passionate about or researching seafood, this must be a good source of information for you!

1. Minh Phu Seafood Joint Stock Company

Minh Phu is one of the leading seafood group in Vietnam. Currently, the products of this company are available in more than 50 countries and territories and their annual turnover is over VND10,000 billion. Black Tiger and White Vannamei are the two main products that contribute to the reputation of Minh Phu.

Total revenue in 2017: 15,665 Billion VND
Total net profit in 2017: 792 Billion VND


Hung Vuong Joint Stock Company has become the biggest exporter of catfish in Vietnam after 10 years of operation and is also the only company in Vietnam that has a closed production process from feed production, aquaculture, processing to export aquatic products. Hung Vuong products are present in more than 60 countries in the world.
Total revenue in 2017: 15,515 Billion VND                                                    


Vinh Hoan Joint Stock Company basa fillet is popular among foreign buyers. Advanced production facilities have helped Vinh Hoang reduce waste from existing aquaculture and providing new sources of revenue, which responsibly ensures the development of aquaculture.
Total revenue in 2017:  8,151 Billion VND
Total net profit in 2017: 723 Billion VND                                                       


International Development & Investment Corporation (IDI) was founded in 2003, as one of the enterprises established by Sao Mai Construction & Investment Joint Stock Company.

IDI's main activities are related to the production and business of the factories located in Vam Cong industrial cluster such as aquaculture - processing - export of catfish and catfish-related products. IDI is considered as one of the largest catfish export & processing companies in Vietnam.
Total revenue in 2017: 5,327 Billion VND
Total net profit in 2017: 361 Billion VND                                                       


Established in 1978, STAPIMEX has run as the Seafood Exporter and Processor and is always one of top Vietnamese seafood companies, especially in black tiger shrimp industry. STAPIMEX has become the pioneer in handling Fresh and Safe raw materials. Since the beginning of 2006, the company has played as the joint stock company and fully named as SOC TRANG SEAFOOD JOINT STOCK COMPANY.
Total revenue in 2017: 4,291 Billion VND
Total net profit in 2017: 140 Billion VND                                                       


Camimex Group (Camimex) produces and exports about 10,000 tons of shrimp products to the international markets every year. Moreover, CMC Seafood Company has a representative office in California (USA), which is a joint venture of Camimex Group, responsible for handling the distribution of products in the American market.
Total revenue in 2017: 4,204 Billion VND
Total net profit in 2017: 169 Billion VND      


Formerly Sao Ta Foods was a wholly state-owned enterprise, which was established on 20/1/1995 and operated the frozen shrimp process on 03/02/1996. The company also set up An San Foods Factory for agro-processing. Their products are mainly consumed in Japan market including kakiage, sweet potatoes, okra, eggplant, bell peppers under the form of steam fry, fresh, blend. FIMEX VN has its own 160-hectare shrimp farm with ASC and BAP standards. This company has cooperated with farmers for growing of agricultural products for export. Its sales exceeded US$ 100million and is expected to reach US$200 million in 2018.
Total revenue in 2017: 3,249 Billion VND
Total net profit in 2017: 125 Billion VND   


Thuan Phuoc Seafood & Trading Corporation was established in 1987. Currently, Thuan Phuoc is operating in Tho Quang seafood industrial zone. This is one of the leading seafood producers and exporters in Vietnam and is in the top 20 of seafood companies and top 500 biggest companies in Vietnam.

Their business activities are processing and exporting seafood, agricultural products and foodstuff technology; importing materials, machinery, equipment, means of transportation and consumer goods.
Total revenue in 2017: 2,073 Billion VND
Total net profit in 2017: 33 Billion VND


Nam Viet Corporation was established in 1993 with initial chartered capital of VND 27 billion and its main business are civil and industrial construction. In 2000, the company decided to expand its business scope to seafood processing, starting with building My Quy Seafood Processing Factory with total investment capital of VND30.8 billion. The company specializes in processing and exporting catfish and frozen basa fish. In the period from 2001 to 2004, Nam Viet invested two more frozen aquatic products factories namely Nam Viet Factory (renamed My Quy Seafood Frozen Factory) and Thai Binh Duong Factory with the average processing capacity of 500 tons of fish per day.
Total revenue in 2017: 2,949 Billion VND
Total net profit in 2017: 167 Billion VND


Hai Viet Corporation was established in 1990. In 1991, it came into official operation and was named HAVICO.

Since 1995, the company has started to produce refined products to high-end markets like Japan (sushi, sashimi, spring rolls ...). At present, the company produces over 300 refined products and instant foods for supermarkets in foreign markets including Japan, Korea, EU, USA, Australia, UAE and other Asian countries.
Total revenue in 2017: 1,359 Billion VND
Total net profit in 2017: 34 Billion VND


2018 is expected to be a favourable year for Vietnamese shrimp exports, especially if the preliminary POR 13 results are reviewed with a lower TCBPG level. Shark catfish has recovered. VASEP estimates that Vietnam's catfish exports may reach $ 1.85 billion in 2018 (+ 3.9%).

Production of shrimp and catfish is expected to increase in 2018. Demands from foreign markets will be a key driver for shrimp exports, driving up shrimp prices. As for shark catfish, the recovery of breeding stock as well as high price of shark catfish will make farmers go back to shark catfish, boosting output in 2018.

Imports into the US market will likely be affected by the high TCBPG but will be offset by rising demand from the Chinese market. In general, high TCBPG will be beneficial to export enterprises not subject to tax like Vinh Hoan (VHC).

It is believed that the demand from China will continue to increase sharply, reaching at least 40-50% of volume for both shrimp and catfish.
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