In March of 2018, at the suggestion of Minh Phu Group, five major companies within the shrimp value chain (namely Minh Phu, Minh Phu Aqua Mekong, Cargill, Avita & Vietnam Food) meet in a Kien Giang province’s conference to discuss their plan to develop a multi-industrial complex to innovate the shrimp chain in Vietnam. Compared with other countries in the region, Vietnam’s shrimp industry is still facing many difficulties: (1) limited supply, (2) high input price, and (3) shrimp quality not meeting international standards. Thus, the industrial complex aims to address these issues. When finished, it is estimated to produce more than 200,000 tons of shrimp annually with expected commercial value of US$2 billion. In addition to the substantial commercial value, the complex will also provide employment to more than 20,000 people, housing facilities for nearly 60,000 individuals, and generate other positive environmental impacts such as improved waste and water treatment facilities.
Logo: Enterprises in the shrimp supply chain
The role of VNF in this high impact plan will be to lead the shrimp by-products. The company plans to collect up to 80,000 tons of shrimp heads and shells annually, and process them into high-quality, high-value products such as feed meals, food products, and pharmaceutical products. With VNF taking charge of processing and commercializing the by-products, the final missing link within Vietnam’s shrimp value chain will be completed