IDI AND THE AMBITION TO DOMINATE THE PANGASIUS EXPORT MARKET IN ASIA

In the first 4 months of 2018, the value of Vietnam pangasius export turnover reached 605 million USD; China’s market accounted for $ 145 million, up 43% over the same period.

Multi-national Investment and Development Joint Stock Company (IDI), a member of Sao Mai Group, has become a leading supplier of pangasius to the Chinese market.

Be proactive in the supply of raw materials and complete the production chain

Mr. Trương Vĩnh Thành, said that Sao Mai is a multi-industry corporation with 16 member companies, operating in real estate, seafood, food, tourism, construction, financial investment, clean energy and labor export. Total equity of the corporation is over 6,000 billion VND, total assets at market price about 21,000 billion VND… In particular, IDI is the largest subsidiary of Sao Mai Group, currently has two seafood processing plants for export with a capacity of 600 tons per day. According to Mr. Thành, Pangasius is considered the product of the Mekong River. This species has very high nutritive value but has not been fully exploited. As a Vietnamese enterprise, Sao Mai Group recognizes its responsibility to bring outstanding values to every customer in the world. The idea of “bringing the Mekong flavor to the whole world” has started ever since.

Since its inception in the seafood sector, IDI has identified its business development strategies which are being proactive in the supply of raw materials and completing the production chain. “We have built a “broadband communications network” with satellites from hatcheries to farming areas. When IDI has actively controlled 80% of raw materials for two fisheries factories, we will obviously control the market, thereby control risks and stabilize prices” – Mr. Thành said.

Deeply explore to develop

According to Mr. Thành, IDI considers China as a major market in the world, where seafood consumption in general and pangasius in particular is extremely potential. On the other hand, China has geographical advantage that it is near VN and favorable export transportation. Food culture of the people there also have similarities with Vietnam so the selection of China as the market point is also in the expansion strategy of IDI. Currently, IDI’s products are available in Sichuan, Beijing, Guangdong, Fujian, Hainan, Shanghai… and favored by the local people. This has helped IDI change from a relatively new brand to a leading pangasius supplier in this market.

By 2017, IDI has set up a branch in Beijing to promote its brand into the Chinese market. In Beijing, the company developed in two combined directions, on the one hand, it is based on the available customers, on the other hand, distributing in private channels to promote IDI brand. In addition, the company is constantly introducing new products with diverse designs; especially strict compliance with safety standards of food hygiene and ensure high quality.

“In 2018, IDI strives to achieve total revenue of 6,800 billion VND, profit of 680 billion VND, which are the highest ever. In order to do that, we have to continue to consolidate and implement strategies to keep up with the market situation and market information and prevent contingency scenarios to balance the area and output of materials.” – according to Mr. Thành.

CURRENTLY, IDI’S PANGASIUS PRODUCTS ARE PRESENT IN 150 COUNTRIES AND TERRITORIES AROUND THE WORLD. IDI IS ALSO IN THE TOP OF 13/60 BUSINESSES THAT QUALIFY FOR EXPORT TO THE US MARKET. OVER THE PAST YEARS, IDI HAS ALWAYS MAINTAINED THE TOP POSITION IN THE TOP 20 SEAFOOD PROCESSING ENTERPRISES IN VIETNAM. IN THE FUTURE, IN ADDITION TO MAINTAINING AND DEVELOPING THE MARKET AVAILABLE, IDI WILL CONTINUE TO REACH NEW POTENTIAL MARKETS SUCH AS INDIA, INDIA, JAPAN, RUSSIA, KOREA, EASTERN EUROPE … WITH THE AMBITION TO DOMINATE THE ASIAN MARKET.