Source: Fish Information and Services
A Vietnamese firm and five Japanese partners are collaborating to aid the development of the local tuna fishing industry and a brand name for Phu Yen ocean tuna.
Phu Yen province-based Vinh Sam Company Ptc along with the five Japanese companies -- Rakuchi Broadband Solution Co, Ltd, Ohmasu co, Ltd, I-Point Co, Ltd, Sokurakuhonpo Co, Ltd and At Work Company -- will set up the USD 2 million-firm. The Japanese partners will inject USD 1.2 million, a fish-freezing vessel that can preserve fish at minus 60 degrees Celsius and a 30-ton transport boat into the venture, as well as transfer tuna processing technology to Vietnamese firms.
This Joint Stock company intends to purchase, process and export tuna and special marine products; train local men in catching, treating and processing tuna; stabilize the price of tuna and help bring high interest to fishers and especially to build up the brand of Phu Yen tuna, Investment News reports.
“We expect the Phu Yen tuna trademark to carve a market niche after two years and become Japanese customers’ top choice,†Rakuichi Broadband Solution executive director Kensaku Matsumota said, reports Vietnam Investment Review.
The joint venture will purchase about 2,000-3,000 tons of tuna yearly at USD 12- USD 20 per kg depending on quality.
So the venture can begin operations by year’s end, stated Le Van Truc, vice chairman of the Phu Yen People’s Committee, his agency was joining hands with the ministries of Planning and Investment and Agriculture and Rural Development, VNS reports.
Ocean tuna is one of the province’s main products.
Since Phu Yen is Vietnam’s leading locality in ocean tuna fishing, processing and exports, it is key for local businesses to develop a brand name for the tuna, said the Viet Nam Association of Seafood Exporters and Producers (VASEP).
While Phu Yen had worked hard to promote its tuna products, it now needs to participate in international forums and exhibitions to promote them across the globe, VASEP noted.
Under the National Brand Name Program 2011, the Ministry of Industry and Trade will back Phu Yen as it builds a tuna brand name, reported the ministry’s Trade Promotion Agency.
So far in 2011, Phu Yen’s tuna landings have reached a year-on-year increase of 13.8 percent. At the same time, because offshore fishing costs make up to 70 percent of revenues, most of the fishing boats specializing in ocean tuna are not making profits.
One of the main reasons is that the provincial companies’ tuna-processing methods are poor and low-quality. Therefore, only 30 percent of Phu Yen’s catch meets exporting standards to go to the European, US and Northeast Asian markets where prices are highest.