01/09/2016 17:25 GMT+7 Email Print Like 0

Minh Phu – A Leading Seafood Brand in Vietnam

Specialising in supplying frozen seafood including shrimp, prawns, and saltwater cichlids to more than 80 countries and territories such as the US, Japan, Canada, RoK, Australia and Europe, Minh Phu Seafood Corporation is one of the largest seafood enterprises in Vietnam.
Minh Phu was established in December 1992 as a private enterprise with a small amount of  capital in Ca Mau. In 2002, it was reformed into a limited company and from then on has developed into a leading firm in shrimp exports in Vietnam with a closed procedure of raising and producing commercial shrimp. Now Minh Phu is a joint-stock company whose stocks are listed on Vietnam’s stock exchange.

Seafood is risky to produce and Minh Phu also faced ups and downs in the market. The rising cost in raising shrimp and low competitiveness compared to regional firms makes the prospect of succeeding in the industry seem low. Recognising its role, Minh Phu is one of the pioneers in the industry to develop a business model of sustainable development and maintain a balance among production stages.

Minh Phu equips its workers with labour safety tools as well as complying with production standards.

Shrimp before processing.

 Minh Phu workers select and classify shrimps.

A factory of Minh Phu in Ca Mau Province. 

Two factories of Minh Phu Ca Mau and Minh Phu Hau Giang have the capacity of to produce
up to 60,000tonnes of prawns/year and are using more than 13,000 labourers, mostly women.

Minh Phu is using modern machines in production.

Minh Phu’s products are diverse, have a high quality and gain partners’ trust.

Minh Phu’s products are strictly examined before packaging.

Minh Phu’s products are exported to more than 80 countries and entities,
mostly to the US, Japan, Canada, RoK, Australia and Europe. 

In 2015, Minh Phu established the strategy of “Responsible Value Chains” with a connected and closed production line from breeds, baby shrimp, food, to processing for export, logistics, distribution and sale. The aim of the responsible value chain is that each manufacturing phase is responsible for its work and output. Accordingly, the whole chain has the highest level of responsibility and the final products have the best quality with the best cost. Its leadership sees Minh Phu as the key factor to lead and connect everything in the chain from the first to the last phases to bring about the best results to the corporation, the customers, partners, the society and the environment. This has helped Minh Phu gradually overcome its difficulties and minimise risks.

As a large group with more than 10 member companies and a lot of partners and customers, Minh Phu is creating jobs for tens of thousands of workers in the Mekong Delta. The two factories of Minh Phu Ca Mau and Minh Phu Hau Giang have a capacity to produce up to 60,000 tonnes of prawns/year and are using more than 13,000 labourers, mostly women. Minh Phu is producing more than 7,000 kinds of products, including traditional prawns, sushi, nobashi, and tempura. The infrastructure and living standard of locals in places with Minh Phu’s factories have been improved greatly, especially prawn raisers and people doing related jobs.

From 2016 on, Minh Phu is planning to renew its processing procedure and technology to better manufacture and sell in order to increase its profit rate to 9-10%.

Minh Phu is the first seafood firm to establish AquaMekong Institute, which specialises in research related to the diseases of prawns and fish and economic and sustainable raising models. In the market, Minh Phu is the first Vietnamese seafood firm to receive certificates valuing its production procedure and quality such as the 4-star BAP (Best Aquaculture Practices), ASC (Aquaculture Stewardship Council), Global GAP and Naturland.

Story: Son Nghia – Photos: Dang Kim Phuong