Minh Phu is Vietnam’s leading shrimp exporter, shipping products to more than 50 foreign markets. Shrimp export alone earns the corporation 535 million USD in 2016, according to its management. The corporation is employing 12,000 workers.
The PM hailed the company’s research into various models for shrimp farming, noting that any model should ensure the protection of the environment.
He expressed his hope that Minh Phu will earn US$2 billion from exports by 2021, contributing to realising the national target of US$10 billion in shrimp export value.
The company reported to the Government leader that it is developing a chain of shrimp farmers to ensure supply of clean raw materials meeting the quality requirements of strict markets and the easy verification of product origin.
It proposed a mangrove-based shrimp farming model, which could be an effective way for Ca Mau to reduce poverty and develop the local economy, considering the fact that the province currently has 100,000 hectares of mangrove forest.