C.P. Vietnam starts construction of shrimp farm factory in Mekong Delta

By Tri Duc
Mon, January 16, 2023 | 2:19 pm GMT+7

C.P. Vietnam, a subsidiary of Thai conglomerate C.P. Group, kicked off the construction of a 4.3-hectare shrimp farm factory in the Mekong Delta province of Ben Tre on Saturday.

The high-tech plant, under Advanced Aquaculture Vietnam Company Limited, is set to complete on October 25, with an annual capacity of 1.1 billion shrimp seeds.

C.P. Vietnam executive vice president Adisak Torsakul speaks at the groundbreaking ceremony of the factory in Ben Tre province, Vietnam's Mekong Delta on January 14, 2023. Photo courtesy of C.P. Vietnam.

C.P. Vietnam executive vice president Adisak Torsakul speaks at the groundbreaking ceremony of the factory in Ben Tre province, Vietnam's Mekong Delta on January 14, 2023. Photo courtesy of C.P. Vietnam.

With eight branches across Vietnam, Advanced Aquaculture Vietnam Company Limited, part of C.P. Group in Vietnam, currently supplies tens of billions of shrimp eggs.

The new factory aims to apply modern technologies to bring about eco-friendly and high-quality products for the sustainable growth of Vietnam’s aquaculture sector, C.P. Vietnam executive vice president Adisak Torsakul said at the ceremony.

Since its entry in 1993, C.P. Vietnam has become the biggest firm in the agricutlture-food sector in Vietnam with over 30,000 staff, according to the company’s executive.

Last October, C.P. Vietnam shipped its first lot of processed chicken to Japan after meeting all food safety and quarantine requirements of the demanding market. The first shipment was 33.6 tons of processed chicken, the firm said. The shipped products were from the its plant in the southern province of Binh Phuoc, which the Thai giant says is Southeast Asia’s largest chicken processing facility with an initial investment of $250 million.

Vietnam’s aquaculture output reached 9.03 million tons in 2022, up 2.7%, including 1.23 million tons of shrimp, up 7.2%, according to the General Statistics Office. Shrimp is also a key export product of Vietnam’s agriculture, with revenue of over $4.3 billion last year, only behind wood and wooden products with $10.92 billion.

Vietnam’s agriculture and related service and processing sectors have so far attracted nearly 2,000 foreign direct investment (FDI) projects with registered capital of $20 billion, or 5.7% of the total number of projects and 4.3% of the capital, according to Nguyen Do Anh Tuan, head of the Ministry of Agriculture and Rural Development's international cooperation department. Notable names include Nestle, De Heus, CJ, C.P., and New Hope, he added while reviewing international cooperation in agriculture.

Comments (0)
  • Read More
Vietnam data market charms foreign players: property firms

Vietnam data market charms foreign players: property firms

A host of foreign companies are looking to invest in data centers in Vietnam given its substantial growth potential while the market is still dominated by local telecommunication firms, says property service provider Jones Lang LaSalle (JLL).

Infrastructure - Tue, May 14, 2024 | 11:26 am GMT+7

LG’s chemicals arm records modest 2023 profits in Vietnam

LG’s chemicals arm records modest 2023 profits in Vietnam

LG Chem, Ltd, the chemicals arm of South Korean chaebol LG, reported modest profits from its subsidiaries in Vietnam in 2023, according to the firm’s consolidated financial statements.

Companies - Tue, May 14, 2024 | 11:11 am GMT+7

Vietnam needs to modify FDI incentives to stay competitive amid global minimum tax application: expert

Vietnam needs to modify FDI incentives to stay competitive amid global minimum tax application: expert

Vietnam’s policymakers need to consider changes to foreign direct investment incentives to keep the country competitive when it implements Global Minimum Tax rules, says Prof. Nguyen Mai, chairman of the Vietnam’s Association of Foreign Invested Enterprises (VAFIE).

Opinion - Tue, May 14, 2024 | 9:37 am GMT+7

Malaysia pledges to boost energy connectivity

Malaysia pledges to boost energy connectivity

Malaysia commits to cooperating with its ASEAN counterparts to push forward regional initiatives such as the ASEAN Power Grid, which is aimed at fortifying energy connectivity and security throughout the region, the country's Deputy Prime Minister Fadillah Yusof said on Monday.

Southeast Asia - Tue, May 14, 2024 | 8:49 am GMT+7

Japan supports Indonesia to build high-speed rail line in capital

Japan supports Indonesia to build high-speed rail line in capital

The Japanese government announced on Monday that it will provide a loan of approximately JPY140.7 billion ($900 million) to construct a high-speed rail line in Jakarta, Indonesia.

Southeast Asia - Tue, May 14, 2024 | 8:44 am GMT+7

Singaporean PM submits resignation

Singaporean PM submits resignation

Singaporean Prime Minister Lee Hsien Loong on Monday submitted his resignation to President Tharman Shanmugaratnam, saying he and his government will resign on Wednesday.

Southeast Asia - Tue, May 14, 2024 | 8:09 am GMT+7

Singapore’s robot startups eye global market

Singapore’s robot startups eye global market

From autonomous floor cleaning to robotic arms in warehouses, Singapore-based robotics startups are expanding their production and research capacity to tap into Asian markets and beyond, targeting companies eager to address labour shortages.

Southeast Asia - Tue, May 14, 2024 | 8:03 am GMT+7

Thai tourist buses allowed to enter Malaysia

Thai tourist buses allowed to enter Malaysia

Buses from Thailand are allowed to enter Malaysia to bring in tourists, provided they apply for temporary permits from the Land Public Transport Agency (APAD) in advance, said Malaysian Minister of Transport Anthony Loke.

Southeast Asia - Tue, May 14, 2024 | 8:00 am GMT+7

HCMC to add 80 locations for public bike rental

HCMC to add 80 locations for public bike rental

An additional 80 public bike rental stations will be opened in District 1 and District 4 to serve locals and tourists in Ho Chi Minh City.

Travel - Mon, May 13, 2024 | 10:19 pm GMT+7

Mysterious 'floating' lake discovered in central Vietnam

Mysterious 'floating' lake discovered in central Vietnam

A mysterious lake has been discovered in Thung Cave within the World’s Natural Heritage Phong Nha-Ke Bang National Park, in the central province of Quang Binh.

Travel - Mon, May 13, 2024 | 10:17 pm GMT+7

Vietnam ranks second in world cryptocurrency ownership rankings

Vietnam ranks second in world cryptocurrency ownership rankings

Vietnam ranks second in the world of cryptocurrency ownership, with 21.2% of the population adopting crypto, shows data from the Crypto payment gateway Triple-A.

Southeast Asia - Mon, May 13, 2024 | 10:12 pm GMT+7

Largest made-in-Vietnam bulk carrier launched

Largest made-in-Vietnam bulk carrier launched

The largest-ever made-in-Vietnam bulk carrier was launched by Nam Trieu Shipbuilding Co Ltd in the northern port city of Hai Phong on Saturday.

Southeast Asia - Mon, May 13, 2024 | 10:10 pm GMT+7

Vietnam condotel market ineffective, past its boom: consultant

Vietnam condotel market ineffective, past its boom: consultant

Condotel projects in Vietnam have been ineffective in general because developers promised attractive profits without thorough consideration of all relevant factors, says Mauro Gasparotti, director of Savills Hotel Asia Pacific.

Real Estate - Mon, May 13, 2024 | 10:08 pm GMT+7

Planning differences hinder Novaland real estate projects in southern Vietnam: provincial authorities

Planning differences hinder Novaland real estate projects in southern Vietnam: provincial authorities

Differences between master plan and subdivision plans have caused many difficulties facing real estate major Novaland’s Aqua City project in Dong Nai, provincial authorities say.

Real Estate - Mon, May 13, 2024 | 5:16 pm GMT+7

Public Bank Vietnam earns post-tax profit $17 mln in 2023, down 5.6%

Public Bank Vietnam earns post-tax profit $17 mln in 2023, down 5.6%

Public Bank Vietnam Limited, a wholly-owned subsidiary of Malaysia’s Public Bank Berhad, earned a post-tax profit of VND436.5 billion ($17.2 million) in 2023, down 5.6% year-on-year, according to its financial statement.

Banking - Mon, May 13, 2024 | 5:06 pm GMT+7

Private lender Eximbank, telecom giant Viettel ink five-year cooperation pact

Private lender Eximbank, telecom giant Viettel ink five-year cooperation pact

Vietnamese private lender Eximbank will provide banking products and services to military-run telecom giant Viettel, its employees and customers under a five-year (2024-2028) agreement signed recently by both sides.

Banking - Mon, May 13, 2024 | 4:45 pm GMT+7