The PAN Group cooperates with C.P Vietnam to develop the seafood value chain

On December 9, the PAN Group and C.P. Vietnam officially signed a strategic cooperation agreement, supporting each other to expand and develop business activities, exploiting the best potential of the market and strengths in the traditional business fields, and promoting sustainable development of seafood value chains.

The two sides commit to jointly support Sao Ta Food Joint Stock Company ('Fimex VN") to complete the process and improve the efficiency of shrimp farming, expand shrimp farming areas, diversify output products and expand export markets.

Simultaneously, the PAN Group and C.P Vietnam are also committed to cooperating in technology transfer, application of advanced farming technology, and digital transformation applications in aquaculture and seafood processing and shrimp industry in particular.

The two sides are committed to working together in activities for the environment and the community, towards the 11 United Nations Sustainable Development Goals (SDGs) by 2030, in line with each party's sustainable development strategy and needs through specific projects.

In addition to the fisheries sector, the two sides are committed to cooperating, supporting, and connecting partners in other fields in which each party or related unit of each party has strengths.

Mrs. Nguyen Thi Tra My, General Director of the PAN Group, shared that the cooperation between the PAN Group and C.P Vietnam is a cooperation between two units that have similarities in agricultural development strategy towards modernity and sustainability. Especially in the fisheries sector, both sides have many strengths.

The PAN Group, through its member company Fimex VN, now owns the largest ASC standard farming area in the country, with advanced farming technology and the successful use of probiotics in high-quality shrimp farming.

In addition, Fimex VN also possesses leading processing technology, creating delicious mixed products in terms of quality, sophistication in design, and has conquered customers in the most demanding markets such as Japan, the U.S, and Europe.

Meanwhile, C.P Vietnam has outstanding strength in shrimp breed and feed. C.P Vietnam's capital investment 25% stake in Fimex VN will open up many other opportunities for cooperation between the two parties, bringing benefits to the PAN Group and C.P Vietnam and Vietnam's seafood industry.

Therefore, Mr. Montri Suwanporsi, Member of the Board of Directors cum General Director of C.P Vietnam, believes that the Vietnams shrimp industry still has potential for development. Therefore, it will still be one of C.P Vietnam's critical industries in the future.

"I believe and hope that, with the cooperation with the PAN Group, we will jointly develop Fimex VN to be stronger and more competitive in export markets," emphasized Mr. Montri Suwanporsi.

Mr. Nikorndej Balankura, Ambassador Extraordinary and Plenipotentiary and Plenipotentiary of the Kingdom of Thailand in Vietnam, said that the signing ceremony of the cooperation agreement between the PAN Group and C.P Vietnam shows the cooperative relationship in trade and investment between Thailand and Vietnam are on the rise.

Thereby, promoting economic development based on agricultural development, the foundation of Thailand and Vietnam's economy ensures food security at national, regional, and world levels.

Deputy Minister of Agriculture and Rural Development Phung Duc Tien said that the Prime Minister approved Decision No. 1664 on marine farming strategy. This is Vietnam's huge potential and advantage, and it is necessary to have big enterprises pioneer. The PAN Group also has a marine farming component.

Therefore, there are similarities between the PAN Group and C.P Vietnam in the agricultural development strategy in Vietnam, especially in the fisheries sector in the direction of modernity and sustainability.

As the founder of the PAN Group, Mr. Nguyen Duy Hung wishes to bring his business more and more developed. Therefore, he wants to choose great like-minded partners to accompany.

"The two corporations have a very high degree of similarity. Firstly, we all take the farmer as the center to serve, take the farmer's life to stick with the business development. Because the farmer is different from the worker. Farmers have a very high level of private ownership, and if there is no language to speak to them, it is impossible to succeed in the agricultural industry," said Mr. Nguyen Duy Hung.

That is a problem a series of domestic enterprises face when they invest heavily in agriculture but have no way to reach out to farmers.

Also, on December 9, 2021, the PAN Group and C.P. Vietnam signed a Memorandum of Understanding to cooperate in a sustainable development program to increase mangrove forest cover in the Mekong Delta. The International Union runs the program for Conservation of Nature (IUCN).

The program contributes to the protection of land resources, water resources, disaster reduction, climate change, and livelihood development for local communities. The two sides contribute funding for the project with a total cost of US$ 200,000 in the 2022-2023 period.