The seafood processing factory of Minh Phu Seafood Corporation (Photo: nhaquanly.vn)Hanoi (VNA) – Japanese-based Mitsui& Co. Ltd said on May 16 it has sealed a 155-billion-USD deal to acquire35.1 percent of Minh Phu Seafood Corporation – a major shrimp farming businessin Vietnam.
Mitsui & Co. has supported Minh Phu toexploit the US and Japanese markets, and now it aims to use the deal as achance to expand to Russia and China, where seafood demand is rising.
Since 2013, it has invested in Minh Phu HauGiang JSC, a processing plant affiliated with Minh Phu.
By investing in the parent company, Mitsuiwill be able to apply modern technology in farming, water quality assessmentand supply chain improvement processes to optimise quality and boost Minh Phu’sdevelopment.
In its medium-term business strategy, theJapanese firm sees nutritional products and agriculture as a growth pillar.World demand for sustainable proteins is expanding along with global populationgrowth, particularly the middle class.
Minh Phu has four shrimp processingfactories and eight subsidiary companies, with its products exported to morethan 50 countries and territories worldwide for annual turnover of more than 12trillion VND (513.6 million USD).-VNA
VNA
