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Groundbreaking ceremony for the U.S. seafood processing plant in Dong Thap with nearly VND 700 billion investment

On January 7, 2025, the groundbreaking ceremony for the U.S. Seafood Processing Plant was held in Dong Thap province. The project, with a total investment of nearly VND 700 billion, is spearheaded by the International Investment & Development Joint Stock Company (IDI). This marks the company’s third processing plant.

The facility is being constructed on a nearly 24,000-square-meter site within the Sao Mai – Vam Cong Industrial Park. With a processing capacity of 120 tons of raw materials per day, the plant aims to produce approximately 20,000 tons of frozen fish fillets annually. The production line features fully imported equipment from Europe, incorporating automated feeding systems and modern freezing technology. Construction is expected to take 12–14 months. Upon completion, the U.S. Seafood Processing Plant will increase IDI’s total processing capacity to over 500 tons of raw materials per day.

Dong Thap is currently home to 28 seafood processing enterprises with a combined design capacity exceeding 500,000 tons per year. Most of these operations focus on processing frozen pangasius fillets for export, accounting for nearly 40% of Vietnam’s total export value in this sector. These businesses have created over 25,000 jobs, with IDI playing a critical role in the pangasius production chain in the province.

By utilizing “green financing” to build the U.S. Seafood Processing Plant, IDI demonstrates its strong commitment to becoming a pioneer in the “green journey – green value” initiative. This aligns with the Ministry of Agriculture and Rural Development’s call for sustainable development in Vietnam’s pangasius industry during this new era.

IDI’s strategic timing reflects its robust capacity, coinciding with optimistic news for Vietnam’s seafood export markets, particularly the U.S., China, the Middle East, and ASEAN.

Notably, the U.S. and South American markets are gaining significant traction. In 2024, six Vietnamese seafood enterprises, including IDI, benefited from low anti-dumping duties under the Department of Commerce’s (DOC) final results for the 19th administrative review (POR19). These preferential tariffs present a golden opportunity for IDI to expand its seafood exports to the U.S.

In July 2024, IDI successfully forged a strategic partnership with PATAGONIA CUISINE LLC in Atlanta, Georgia, to develop the U.S. and South American markets. Both parties agreed to build the “IDI brand” in the U.S., reinforcing the company’s foundation for sustainable growth.

Over the years, IDI has consistently ranked among the top seafood processing and exporting enterprises in Vietnam. With products now present in 50 countries and territories worldwide, the company’s reputation and product quality have solidified its brand. IDI continues to modernize its management processes, enhance product quality, adopt advanced, eco-friendly production technologies, and ensure food safety, all while reducing costs to remain competitive.

Currently, IDI is determined to achieve its 2024 annual shareholder meeting target of a 276% profit growth rate, underscoring its ambition for continued success in the global seafood industry.

VFM

 

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