Vietnam’s central province of Quang Tri has given in-principle approval to Uni-President Vietnam Aquatic Breeding Co., Ltd.'s plan to resume its shrimp breeding project that was suspended in 2022 due to the Covid-19 pandemic.
Provincial authorities made the decision on Friday at a meeting to review the Taiwan-invested company’s request. The project was launched in March 2012 with an annual capacity of two billion shrimp and an investment of VND50 billion ($2.11 million).
It earned the company a total of over VND200 billion ($8.44 million) during 2011-2021.
The six-hectare project, located in Trung Giang commune, Gio Linh district, operated successfully until 2021. In April 2022, due to higher costs driven by the pandemic, Uni-President Vietnam Aquatic Breeding Company filed an application to terminate the project.
In April 2023, the firm asked local authorities to consider approving the project’s resumption and expansion worth VND131 billion ($5.5 million), with a target of starting operations again by December 2024.
Quang Tri Vice Chairman Ha Sy Dong asked relevant agencies to help the firm implement the project and support its expansion plans.
Uni-President Vietnam, invested by Taiwan-based Uni-President Enterprises Corporation, entered Vietnam in 1999 with its first facility in the southern province of Binh Duong and an initial investment of $225 million. The firm now operates in five segments, namely food (such as instant noodles), animal feed (for cows, quails, chickens, pigs, ducks), water treatment, aquafeed, and wheat flour.
In addition to its Binh Duong facilities, the firm also runs six factories in the provinces of Tien Giang, Ninh Thuan, Quang Nam, Ben Tre, and Quang Tri.
According to the parent firm’s report for 2022, Uni-President (Vietnam) Co., Ltd. recorded a net income of TWD463.99 million ($14.79 million) on a net operating revenue of TWD12.92 billion last year ($411.81 million).
Meanwhile, Uni-President Vietnam Aquatic Breeding Co., Ltd. posted a net loss of TWD29.22 million ($931,600) on a net operating revenue of TWD4.09 million ($130,600).