Australis Aquaculture Vietnam Limited
Region and country of operations: Asia, Vietnam
Jurisdiction of registration: Vietnam
Business sector: Aquaculture
Date of agreement: 6/2017
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 Group which focuses on Barramundi farming. Established in 2007, the company is the largest Barramundi producer in Vietnam. It operates in Van Phong bay in Khanh Hoa province. The grown fish is processed by a local company, and the frozen end-product is mostly sold to the USA and Australia and the by-products to local market in Vietnam. The company emphasizes the sustainability of its operations and has secured many international certifications and awards as well as retailer-specific certifications. The company plans to increase its production from current 3,000 mt to 10-12,000 mt by 2020.
Main development impact
Australis Aquaculture Vietnam Ltd is the technological and sustainability leader in aquaculture in Vietnam. The company employs directly about 220 people, of which around 30% are women. Indirectly it employs about 200 people of which 80% are women. Pursuant to the expansion, the company is estimated to employ in total around 400-500 people directly and around 600-800 indirectly. Around 90% of the company’s purchases are local. Sustainable fish farming is increasingly important in the fight against overfishing, which has significantly increased since the 1970s.