Chinese Guangdong Yuehai Feed Group’s subsidiary Vietnam Guangdong plans to launch an aquafeed facility in Vietnam. The company plans to invest USD 10 million with its own funds.

The capital increase is in line with the company’s long-term development strategy and is expected to have a positive impact on the company’s future. “As a costal country, Vietnam has superior natural conditions and rich resources for the development of aquaculture. In recent years, Vietnam’s shrimp farming and feed market developed rapidly. The capital increase is to promote the early completion of the Vietnam Guangdong aquafeed production facility which will help further enhance the company’s brand influence and expand the market share of the company’s products,” the company said in a statement.

Guangdong Feed currently has a production capacity of over 2 million tons. The company reported that the production capacity of several new factories in Hunan, Hubei, and Hainan is still climbing, and it is expected that the production capacity will be improved in 2024. Among them, the production facility in Anhui with an annual output of 100,000 tons of aquatic compound feed is under construction with some supporting facilities, such as office buildings and dormitories, already completed.

The company also stated that has always implemented the production base strategy of “close to the market and radiating to the surrounding areas”. In addition to the new production capacity, the company's original factories have reserved production lines to meet the future growth of the market and cover a wider target market.