FINAL EXAM INTERNATIONAL MARKETING PLAN FOR BASA FISH TO EU’s MARKET BY VINH HOAN JOINT STOCK COMPANY

Core values • COMMITMENT: Right speech and right action • IMPROVEMENT: Constantly differentiating to develop • DISTRIBUTION: Working with all your heart, not for personal gain •

COMPANY INTRODUCTION

OVERVIEW OF VINH HOAN JOINT STOCK COMPANY

Vinh Hoan Joint Stock Company, originally established as Vinh Hoan Company Limited on December 19, 1997, transformed into Vinh Hoan Joint Stock Company in 2007 and now stands as one of Vietnam’s leading basa processing and exporting enterprises As a large-scale player in the export processing industry, the company’s current capacity reaches up to 250 tons of raw fish per day It benefits from a steady raw material supply due to its location in Dong Thap Province in the Mekong Delta, a region considered the most favorable for basa farming With eight basa farming areas covering 136.5 hectares, the company provides about 34% of its raw material demand Its products are eligible for export to numerous markets worldwide, including the US and other countries.

EU countries, the most demanding market in the food export industry from overseas markets and gradually become a brand name reputable both at home and abroad

• Trading name: VINH HOAN JOINT STOCK COMPANY

• English name: VINH HOAN CORPORATION

• Address: Route 30, Ward 11, Cao Lanh City, Dong Thap Province

HISTORY OF FORMATION AND DEVELOPMENT

- 1997: Ms Truong Thi Le Khanh founded Vinh Hoan Private Enterprise

- 1998: Converting the business model to Vinh Hoan Co., Ltd

- 1999: The first fisheries processing factory in Cao Lanh Town, Dong Thap province came into operation

- 2007: Publicly listed on the Vietnam Stock Exchange Established Vinh Hoan Feed Established Vinh Hoan USA in Milpitas, California

- 2009: Vinh Hoan Laboratory was accredited to ISO / IEC 17025:2005

- 2010: Become the world's largest basa producer

- 2012: The world's first basa producer received ASC (Aquaculture Stewardship Council) certification

- 2015: First company in the world to achieve 4-Star Best Aquaculture Practices (BAP) for hatcheries, feed production, farming and processing of basa Modern collagen/gelatin production facility begins production

In 2016, the Government of Vietnam awarded the First Class Labor Medal in recognition of outstanding contributions Forbes ranked the company among the top 50 companies on the Vietnamese stock market for three consecutive years The company also established the Vinh Aquaculture Division to promote research, development and education while providing stable inputs for production.

- 2017: Focus on growth and innovation through Vinh Foods division to provide a wide range of value-added products Celebrated 20th year anniversary of Vinh Hoan's journey

In 2018, we targeted existing markets and expanded into new markets, while expanding farming and production capacity to secure a steady supply of high-quality raw materials We also focused on developing value-added products and increasing direct distribution channels to restaurants and supermarkets.

In January 2019, Vinh Hoan proudly won the Innovation of the Year award from Woolworths for Fish Bites, while Chairman of the Board Ms Truong Thi Le Khanh was named by Forbes Vietnam as one of the 50 most influential women in 2019, and Vinh Hoan was honored as one of the 50 best listed companies in Vietnam in 2019, marking the sixth consecutive year the company has appeared on Forbes' list since 2014 In September 2019, Vinh Hoan Pangasius Seed Production Co., Ltd began construction of a new breeding area dedicated to researching and developing new technologies and improving processes to produce high-quality fingerlings.

In November 2019, the Food Safety Inspection Service (“FSIS”) under the US Department of Agriculture (“USDA”) officially recognized the equivalent for the Vietnamese basa industry.

VISION, MISSION AND CORE VALUES

Table 0: Vision, Mission And Core Values

Mission Affirming the position and potential development of sustainable aquaculture in the world through continuous improvement, environmental protection and efficiency improvement in all production and business activities

Vision Becoming a leading company in sustainable aquaculture products, contributing to building a world of safe, delicious, healthy food and environmental protection

• COMMITMENT: Right speech and right action

• IMPROVEMENT: Constantly differentiating to develop

• DISTRIBUTION: Working with all your heart, not for personal gain

• SHARE: Being willing to give is also happy to receive

• PRO: Compliance and speed in every action

RESEARCH OBJECTIVES

A comprehensive SWOT analysis of the business environment of Vinh Hoan Joint Stock Company reveals the company’s strengths, weaknesses, opportunities, and threats, outlining how internal capabilities and external factors shape competitive advantage Building on this assessment, the article presents Vinh Hoan’s marketing strategy for the European market, detailing strategic positioning, product quality and safety standards, branding and messaging, pricing and distribution channels, regulatory compliance, and partnerships designed to expand market share and drive sustainable growth in Europe.

Domestic and foreign subsidiaries and affiliates

ANALYSIS OF BUSINESS ENVIRONMENT

MACRO ENVIRONMENT

2.1.1 Overview of the EU’s market

European Union (EU) is a political and economic union of 27 member states in Europe It has developed a single market with a unified legal framework that ensures the free movement of people, goods, services, and capital among member states The EU maintains common policies on trade, agriculture, fisheries, and local development.

According to World Bank data, the EU-27 market size is 500 million people and GDP is projected to reach 15.193 trillion USD in 2020, underscoring the bloc’s substantial economic scale The EU ranks among Vietnam’s leading trading partners, with bilateral two-way trade expanding by an average of 15-20% annually.

Figure 2: Proportion of Products Exported to EU (2018)

(Source: Ministry of Industry and Trade, General Department of Customs)

Vietnam’s 3,200-kilometer coastline, an exclusive economic zone of about 1 million square kilometers, and a vast inland water surface of 1.4 million hectares—especially the waters of the Mekong Delta—provide favorable conditions for developing aquaculture and fisheries processing Tien Giang, An Giang, and Dong Thap are the key basa fish farming hubs in the country, fully meeting the raw material needs of export-oriented fisheries processing companies Freshwater basa is easy to raise, relatively disease-free, and highly productive, making it particularly suitable for the Mekong Delta environment.

20,70% textile (9,8%) leather (for shoes) (11,1%) bag, s uitcase, umbrella (2,2%) phones and components (31,4%) electron ics and components (11,3%) machinery , mechanical equipment (4, 9%) wooden (1,8%) fisheries (3,4%) coffee (3,2%) oth ers (20,7 %)

Like other regions worldwide, the European Union faced unprecedented changes and challenges as the COVID-19 pandemic unfolded The EU economy contracted by 2.7% in the first quarter of 2020, followed by its sharpest quarterly decline in the second quarter, with output falling 13.8%.

The COVID-19 crisis has sent shock waves through the EU food supply chain in

COVID-19 exposed EU agriculture's heavy reliance on cross-border seasonal workers, a vulnerability intensified by the crisis This disruption could push millions of EU citizens into poverty, particularly among the most vulnerable groups Among the negative effects of the pandemic, this situation presents a positive signal for Vietnam's food export industry to Europe, especially fisheries exports.

The European market is widely regarded as the most stringent for import controls To succeed in this market, the company must thoroughly understand the regulations to design and deploy the most effective sales strategies tailored to European standards.

Required Furthermore, it is not allowed to treat the company's basa with carbon dioxide for the European market and control the chlorate content of the product

Food safety standards must be met

Non-compliant products are reported to the Rapid Alert System for Food and Feed (RASFF), and companies listed there may face thorough container inspections at EU ports of entry; maintaining constant temperature control is recommended to ensure safety Import into the EU requires a hygiene certificate accompanying the product, reflecting essential health and hygiene standards that customers demand Prioritize consumer health by ensuring the finished product contains no contaminants.

The European Union has not yet established a specific maximum residue level for chlorate in food, and a default MRL of 0.01 mg/kg applies The EU is actively working to strengthen regulation of chlorate residues in food and water Even at the default MRL, many products exceed the limit due to higher chlorate content In late October 2019, several shipments of frozen basa fillets with added water from Vietnam were found to have elevated chlorate levels and were placed on the RASFF quick alert.

Do not treat basa fish with carbon oxide

Carbon dioxide treatment is used to improve the appearance of basa products by preserving color, keeping the blood red and the flesh white The European Union regards carbon monoxide treatment as a method that can mask product deterioration and prohibits its use.

Shrimp, tuna, and basa fish are Vietnam's main export products to the European market, establishing the country as a major supplier in the EU seafood sector Consequently, Vietnamese fisheries enterprises enjoy several export advantages, including favorable tax treatment and streamlined compliance with European regulatory rules, which can reduce barriers and enhance competitiveness in EU markets.

In Romania, several online news outlets, including Realitatea.net, Ziuanews.ro, Bzi.ro, Adevarul.ro, Puppe.ro, and Secretulsanatatii.net, have published inaccurate information about Vietnam's basa fish industry, harming export activities to Europe Some sites even urged people to boycott basa fish and restaurants serving it, further threatening market access As European demand declined due to smear campaigns in certain countries, Vietnam's Seafood Exporters Association (VASEP) has partnered with Globally Cool Company to implement a European market promotion campaign for basa fish from March to December, aiming to restore confidence and boost exports.

MICRO ENVIRONMENT

2.2.1.1 Direct competitors a Inside Vietnam : Organizations that give the same product or service and use in the same market as a business such as:

Table 2: Vinh Hoan’s Competitor inside Vietnam

No Company Name Year of export

1 Nam Viet Joint Stock Company 2019 136.1 6.80%

2 Bien Dong Fisheries Co., Ltd 2019 130.3 6.52%

4 Go Dang Joint Stock Company 2019 94.7 4.74%

(Source: VASEP) b At Europe: Currently, there is no significant competitor for Vietnam in the EU market Most basa fish products exported to the European Union originate from Vietnam

Table 3: Vinh Hoan’s Competitor at EU

Bangladeshi exporters face persistent supply chain issues that limit their access to demanding high-end markets such as the retail sector, where certifications for traceability, quality, and durability are often required Consequently, Bangladeshi basa typically remains at the lower end of the foodservice market rather than reaching premium retail channels.

China China is another country that exports small quantities of basa to the European Union Every year, no more than 50-100 tons to Europe

Potential competitors in the fisheries industry are businesses that are not yet present in the market or are new entrants that have not started offering services, and their emergence could affect the industry in the future The entry of new enterprises will increase competition among industry players, but the level of competition will depend on the factors and conditions for entering the industry.

With the signing of major trade agreements such as the EVFTA and UKFTA and strong government focus on developing the national fisheries sector, the industry’s attractiveness has risen Its driving factors include technology with advanced capabilities, the capital required to scale operations, and critical commercial elements like an efficient distribution system, strong brand equity, and a loyal customer network Access to specific resources—controlled inputs and patented technologies—alongside skilled human resources and protective government policies further boost competitiveness, while a well-developed distribution channel ensures market reach and sustainable growth.

Vinh Hoan operates in a competitive landscape where basa must compete not only with other catfish species but also with global substitutes such as tilapia, salmon, and pangasius, along with other white-meat fish and broader fisheries As household incomes rise, consumer demand for food that meets high standards of quality, safety, hygiene, and selection increases, placing pressure on product performance When Vinh Hoan's offerings fail to satisfy customers, substitute products can erode market share and negatively impact the company’s business performance.

Vinh Hoan continues to expand its operations with plans to invest 580 billion VND in building new hatcheries, renovating existing farms, and expanding production plants In 2020, the company announced a fish oil factory project in Chau Thanh District, Dong Thap Province The competitive edge comes from a closed-loop supply chain, strong management capacity, and advanced technology, allowing Vinh Hoan to secure raw materials more effectively than many small and medium-sized enterprises and to penetrate large markets.

Table 4: Vinh Hoan’s food supply system

Fingerling Fish fingerlings are an indispensable part of the farming process and now Vinh Hoan owns over

30 hectares of breeding area Fish farming process is divided into several stages as follows:

Fish egg (2 weeks) → Newly hatched fish (3 4 weeks) → Fingerling -

Vinh Hoan develops its fish farming by focusing on the early life stage when newly hatched fry are purchased from the hatchery At this stage, the fry are just big enough to handle, easy to raise, and easy to feed, enabling tight nutritional control and laying the foundation for efficient, scalable aquaculture.

Aquatic feed for fish is primarily supplied by Vinh Hoan Joint Stock Company, which was once a subsidiary and is now owned by a Philippine partner After the sale, Vinh Hoan became the official distributor and continued to source feed from its partner at a lower price while maintaining quality, as the partner focused on research and development (R&D) to improve the recipe, boost nutritional value, and reduce environmental pollution.

Recirculating fish farming project without water change:

This milestone marks the company's first project in which it has successfully researched and applied a pond-based river fish farming model in the Tan Hung farming area of Long An.

European consumers of all ages and backgrounds consider basa fish a versatile white‑meat option with a neutral taste, a competitive price, and easy preparation for a variety of dishes As shoppers increasingly seek natural, organic products, they are willing to pay a premium for clearly labeled, recognizable ingredients and products with minimal environmental impact This trend is gaining popularity across both developed and developing markets, reinforcing basa fish as a compelling choice for responsible, value‑driven seafood purchases.

SWOT ANALYSIS

Table 5: Vinh Hoan SWOT analysis

Strength • Leading company in product quality and quality management system, pioneering in sustainable farming Vinh

Hoan brand is reputable, effectively supporting the Company's activities;

• A closed system of farming and processing finished products and by -products, value-added products;

• A network of loyal customers and loyal partnerships spanning the globe and diversified across two traditional sales channels and modern sales channels;

• A dedicated and professional workforce and a good, committed and experienced management team;

• Having a wide understanding and connections in different foreign markets to support brand promotion and development strategy;

• Healthy financial situation with high accumulation

Weakness • High labor demand for new factories and new projects;

• The product brand has not yet developed to the end consumer;

• Smart science and technology have not yet been applied to keep up with the rapid progress of the information age;

• The domestic market has not yet developed a suitable name to create wide recognition in the country;

• There is still a lot of untapped potential from the application of the circular economy in the chain of farming, processing and exporting

Opportunity • Vietnam is one of the few countries in the world that has well controlled the spread of the COVID-19 epidemic and maintained economic growth;

• Potential for development of new products, especially ready-made products for online sales;

• Increasing consumer awareness about food safety, product origin and sustainability factors;

• Basa fish still maintains a competitive advantage in price compared to other white fish products, there is no direct and significant substitute;

• Several FTAs that Vietnam has signed are effective: EVFTA, EAEU FTAs, RCEP, UK VFTA

Threat • The COVID-19 epidemic affects the import demand of key markets;

• Shipping costs increased from the fourth quarter of 2020 and showed no sign of cooling down;

• Competitors are growing stronger and more developed;

• Customers' consumption trends are always fluctuating;

• Increasing domestic demand for raw materials leads to the risk of shortage

2.3.5 S O strategy– : Take advantage of product strengths (quality and output) and take advantage of external conditions to penetrate the market

2.3.6 W O strategy: – Building a strong brand, effectively mobilizing capital, managing human resources well to penetrate the target market

2.3.7 S T strategy:– Promote the strengths and advantages of the company to limit the threats of the market and competitors

2.3.8 W T strategy: – Overcome weaknesses in brand, capital, and human resources to prevent threats.

DESCRIPTION OF TARGET MARKET

2.4.1 Main markets of Vinh Hoan Company

Revenue by market shows that most markets declined versus 2019 and 2020 due to the pandemic, with food service chains—one of the two main consumption channels—contributing to the drop In 2020, Vinh Hoan expanded to 47 markets, an increase of nine markets from 2019 The three largest markets are the United States, Europe (including the United Kingdom), and China.

The 2020 market highlight was the rapid growth of the European market for Vinh Hoan It rose to become the second-largest market after the United States, overtaking China, and accounted for 18% of the company's total revenue.

According to VASEP, Northern Europe is the largest market for basa in Europe, where consumers place the highest emphasis on sustainability, price, and convenience The majority of basa entering Europe is sold as frozen fillets, with Vietnamese exporters accounting for most of the market share.

Consumers in Germany show strong interest in preserved and processed seafood products, reflecting a growing demand for convenient, ready-to-use options A notable trend is the development of new seafood offerings for special occasions and enjoyment, including Spanish-inspired savory dishes, fish appetizers, sushi, and breaded products By making seafood easier to prepare and providing cooking guidance, retailers could unlock higher sales of seafood products.

With roughly 500 million people, the EU recorded a GDP of about 15,193 trillion USD in 2020 Consumer demand for food and non-alcoholic beverages accounts for 13% of this expenditure, while restaurants and hotels represent 8.7% In total, EU residents spend about 10.85% of GDP on food and drink activities, amounting to approximately 1,648 trillion USD in annual spending This sizable EU market offers a major opportunity for Vinh Hoan to expand its presence in the European food, beverage, and seafood sector.

In 2020, Vinh Hoan’s pangasius and basa exports to Europe totaled 54 million USD, a relatively small share of the European market, signaling substantial growth potential and opportunities to expand market presence in Europe.

Figure 3: Household Expenditure by EU’s consumption purpose

2.4.2.3 Competitive advantage of Vinh Hoan Company

Ms Le Khanh’s assertive leadership has enabled her to make timely, strategically sound decisions that propel Vinh Hoan forward Since then, Vinh Hoan has not been passive in the face of rising raw material prices; she has enhanced productivity, reduced costs, and seized opportunities as market demand grows, while spearheading innovative research and processing initiatives She has transformed basa products and basa fish into high value-added offerings, such as breaded basa and artichoke rolls Ms Le Khanh has demonstrated exceptional talent and courage in helping Vinh Hoan gain a significant competitive advantage over rivals.

INTRODUCTION STRATEGY

INTRUSION METHODS

This is a business model in which the business owner or franchisor distributes its products and services through affiliated agents or franchisees Franchising usually comes with certain benefits

Here, the franchisor will give the franchisee with the trademark, the right to use the developed formula, the experts, and even the necessary equipment or materials

Table 7: Advantages and Disadvantages of Franchising

Franchising's biggest advantage is uniting independent retailers under a single brand and business philosophy, creating synergies that boost consumer brand awareness, ensure a consistent response to customer needs, concentrate advertising power, and improve purchasing efficiency When the business model is proven in the market, franchising reduces the risk of failure for owners and leverages an established brand to save branding costs while delivering customer recognition The cooperative use of brand advertising and the franchise network increases reach and purchasing power Altogether, this enhanced buying power and shared marketing make the franchised business more profitable.

- Trading in a reputable brand with a smaller investment than building an equal brand

- Minimize the risk of not having to invest in building a new brand

- Support from the brand's marketing and promotion programs

Disadvantages - Share the business risk of the franchisor

- Business activities according to a predetermined framework

- Failing to promote creativity in business

Franchising isn’t for everyone; a completely independent business owner may feel frustrated by the strict requirements and operating characteristics of a franchise It’s important to understand that some franchise methods are more effective than others Ineffective franchise methods won’t train you to handle tough business situations, won’t provide adequate support when problems arise, and won’t make efficient use of advertising dollars.

Licensing is the process of creating and administering a contract between a trademark owner and a company that wishes to use the trademark on its products, granting authorized parties the right to leverage the brand This arrangement ensures that only approved organizations are licensed to do business in designated territories, helping protect the trademark and maintain quality and consistency across markets.

Table 8: Advantages and Disadvantages of Licensing

Advantages For international licensing, the receiving party needs to have enough capital to put the factory in the contract

The primary advantage of licensing is that the company avoids development costs and risks associated with entering foreign markets For firms with limited funds for overseas expansion, licensing offers an attractive option.

Licensing is a viable entry strategy for companies seeking international growth without heavy capital outlays or exposure to unfamiliar or politically unstable markets When direct investment is restricted or prohibited, licensing offers a practical route to enter a foreign market by granting a local partner the rights to use the company’s IP, technology, or brand in exchange for royalties This approach enables faster market access, reduces financial risk, and helps firms navigate regulatory and political constraints while expanding globally.

Licensing limits the company’s direct control over production, marketing, and strategic direction, since the assignee runs their own business This arrangement prevents centralized manufacturing and a unified regional strategy, making it harder to build a coherent regional economy through centralized production As a result, when regional economic factors and quality control are important for overseas expansion, licensing is not an effective approach.

Competing in global markets often requires multinational companies to coordinate cross-border strategies, potentially reinvesting profits earned in one country to enhance competitiveness in another However, the license restricts this practice, limiting how profits can be used across assignments Under license assignment rules, profits cannot be allocated to support a separate assignment agreement in a different country.

An import–export business unit that directly signs a foreign trade contract is responsible for organizing the performance of that contract, ensuring compliance with national and international laws, protecting national interests, and upholding the company’s reputation When export volumes justify it, the firm should establish an export organization (branch or department) either domestically or in the foreign market to handle all export functions—from identifying and segmenting potential markets to arranging routes, managing export documentation, coordinating transportation, and planning and executing export strategies The marketing plan for international markets should cover pricing, promotion, and distribution to drive successful market entry and growth.

Table 9: Advantages and Disadvantages of Direct export

Direct access to foreign markets is a major advantage, enabling businesses to monitor market developments and understand evolving market needs With these insights, companies can craft market-specific plans that boost efficiency and effectiveness in the international market, ultimately improving overall business performance abroad.

Independent business units actively operate to penetrate markets on their own, meet evolving market needs, and stimulate demand When these units conduct effective business activities, they achieve high operational efficiency, establish a strong position for their products and brands, and elevate the global prestige of their offerings.

For a newly started company, direct export is difficult to implement quickly due to limited production capacity, limited understanding of international markets, and weak brand recognition among customers Moreover, exporters face substantial costs from export taxes, which further hinder direct export efforts.

Long-distance transactions between buyers and sellers carry hidden risks that often emerge after the deal closes The greater the distance, the higher the likelihood of unforeseen problems caused by limited knowledge about products, partners, and markets This risk stems from insufficient product specifications, unclear supplier capabilities, and weak market insights, making thorough due diligence essential To mitigate these risks, buyers should verify product details, assess partner credibility, and build clear market understanding before finalizing a transaction, supported by transparent communication, solid contracts, and ongoing monitoring.

INFILTRATION STRATEGY CHOSEN BY VINH HOAN

Vinh Hoan Company is developing a direct distribution system in the European market, enabling direct-to-consumer delivery of its final products Building this European direct-distribution network requires support from the government and from the Vietnam Association of Fisheries Exporters and Producers (VASEP).

Setting up representative offices in European markets involves gathering market intelligence on fisheries imports and the management mechanisms that govern them, tracking fluctuations in supply, demand, and pricing, and analyzing competitors to inform strategy It also includes identifying potential buyers and partners for fisheries products, and coordinating with other company units to organize exhibitions, customer conferences, and targeted direct marketing campaigns In addition, the approach seeks effective aquatic product distribution channels, optimizing logistics and retail partnerships, and expanding online selling through e-commerce to reach customers across Europe.

Vietnam's fisheries sector benefits from a strong, growing pool of human resources, featuring a large, hardworking workforce that thrives under demanding conditions This skilled labor force has driven the industry’s production and export success, and ongoing training continually enhances technical and professional qualifications across the sector In the European Union market, Vietnam faces little direct competition, with most basa fish exports to the EU coming from Vietnam, underscoring its leading position in the region's basa trade.

Table 3: Vinh Hoan’s Competitor at EU

Bangladesh's export sector contends with supply chain challenges that prevent Bangladeshi exporters from accessing demanding high-end markets, such as the retail sector, where traceability, quality, and durability certifications are often required Consequently, Bangladeshi basa remains largely in the lower end of the foodservice market.

China China is another country that exports small quantities of basa to the European Union Every year, no more than 50-100 tons to Europe

Developing the national fisheries industry enhances its attractiveness by integrating technology, meeting capital requirements, and strengthening commercial factors such as an efficient distribution system, trusted brands, and a robust customer network The sector’s competitiveness also hinges on specific resources—controlled inputs and essential patents—together with skilled human resources and supportive government protection A strong distribution channel completes the model, ensuring market access and sustainable growth for fisheries businesses.

Vinh Hoan faces competition not only from other basa products but also from global catfish players and substitute white-meat fish such as tilapia, pangasius, and salmon, as well as other fisheries When incomes rise, consumer demand for high-quality, safe, hygienic foods with clear choice increases, putting pressure on producers to meet stringent standards If Vinh Hoan’s products do not satisfy customer needs, substitute products will erode market share and harm the company’s performance To maintain a competitive edge, the company must emphasize product quality and safety, ensure consistent supply, and monitor trends in tilapia, pangasius, salmon, and other white-meat fish markets and fisheries.

Vinh Hoan plans to invest 580 billion VND to expand production by building new hatcheries, renovating existing farms, and enlarging production plants, while in 2020 it announced a fish oil factory in Chau Thanh district, Dong Thap province The company’s closed-loop supply chain, combined with strong management capacity and advanced technology, gives it a competitive edge in sourcing raw materials and penetrating large markets beyond the reach of many small and medium-sized enterprises.

Table 4: Vinh Hoan’s food supply system

Fingerling Fish fingerlings are an indispensable part of the farming process and now Vinh Hoan owns over

30 hectares of breeding area Fish farming process is divided into several stages as follows:

Fish egg (2 weeks) → Newly hatched fish (3 4 weeks) → Fingerling-

Vinh Hoan advances fish farming by focusing on the hatchery-to-fingerling stage, purchasing newly hatched fingerlings from trusted hatcheries At this early stage, the fish are just big enough to handle, easy to raise, and straightforward to feed, enabling efficient feeding management and steady growth By prioritizing hatchery-sourced fingerlings, Vinh Hoan strengthens its aquaculture operations with scalable production, improved control over feeding, and higher productivity in its fish farming portfolio.

Aquatic feed is mainly supplied by Vinh Hoan Joint Stock Company (Vinh Hoan 1 JSC), which was previously a subsidiary of Vinh Hoan and has since been sold to a Philippine partner After the sale, Vinh Hoan became the official distributor and continued purchasing the feed from its partner at a favorable price, while the partner focused on R&D to refine the feed formula, increasing nutritional value and reducing environmental pollution.

Recirculating fish farming project without water change:

This is the first project that the company has successfully researched and applied the model of

8 popularity in the market of developed and developing countries