Australis Aquaculture Vietnam Limited
Region and country of operations: Asia, Vietnam
Jurisdiction of registration: Vietnam
Business sector: Fishing and aquaculture
Date of agreement (month/year): 9/2017
Finnfund’s financing: USD 9,500,000
Share of Finnfund’s financing: 56%
Size of project/financing: USD 17,000,000
Environmental and social category: B+
Australis Aquaculture Vietnam Ltd is part of Australis Holdings, Inc. which focuses on Barramundi farming. Established in 2007, the Vietnam-based company is the largest Barramundi (Asian Sea Bass) producer in the world. It operates in Van Phong Bay in Khanh Hoa Province in Central Vietnam.
The fish are grown on company-owned farms, processed by a local company, and the frozen finished product is sold primarily to retail and food service customers in the USA and Australia. By-products are sold to the local market in Vietnam. The company emphasizes the sustainability of its operations and has secured many international industry certifications and awards as well as retailer-specific certifications. The company plans to increase its production from current 3,000 mt to 10,000+ mt by 2022.
Main development impact
Australis Aquaculture Vietnam Ltd is a technological and sustainability leader in global marine aquaculture. The company directly employs about 270 people in Vietnam, of which around 30% are women. Indirectly, it employs about additional 200 people, out of which 80% are women. Pursuant to the expansion, the company is estimated to employ in total around 400-500 direct employees and around 600-800 indirect employees. Approximately 90% of the company’s purchases are local.
Sustainable fish farming is increasingly important in meeting the growing international demand for animal protein in a responsible manner, and in the fight against overfishing, which has significantly increased since the 1970s.