Bidifisco: Brand Affirmed by Product Quality

As one of leading seafood firms in Binh Dinh province, Binh Dinh Fishery Joint Stock Company (Bidifisco) has made an important contribution to local economic growth. During its operation, the company has constantly maintained and developed with the motto “Product quality is most important” and determined to build a suitable business strategy that has helped Bidifisco overcome difficult stages to build a brand as strong as today.

Bidifisco presently possesses over three modern tuna processing factories 

Asserting the position

Binh Dinh Fishery Joint Stock Company was established in February 1999 from the equitization of state-owned enterprises.

Bidifisco presently possesses over three modern tuna processing factories with a daily capacity of more than 100 tons of raw materials. The company not only builds a sales network across the Asian market, but also expands to major markets in the world such as the Americas, Europe and the Middle East. With the business motto of "Product quality is most important," the company's products are always trusted and appreciated by customers.

Bidifisco development not only affirms its leadership in the fishery sector, but also contributes positively to the province's total value of industrial production and export; creates more jobs and income for workers; increases tax payment to the State Budget and helps boost local socioeconomic development.

Flexible business approaches

Currently, Vietnam's fisheries industry is facing numerous difficulties: Volatile market, a sharp rise in production and business costs, and exchange rate fluctuations. Before these general difficulties, Bidifisco worked out its own strategies to maintain business activities.

Bidifisco Director Cao Thi Kim Lan said: “Previously, the European market accounted for a very high export share of Bidifisco, including Germany. However, due to the ‘yellow card’ issued by the European Commission (EC), Bidifisco switched to tapping other export markets to minimize risks."

She said, the United States will be also likely to apply "IUU" to Vietnamese seafood in the coming time beside the EU. This is a huge challenge to seafood exporters of Binh Dinh province and of the country as a whole. Therefore, while striving to find markets, seafood exporters need more drastic intervention at the Government level because, according to statistical data released by the General Department of Vietnam Customs, together with the EU, these are also major seafood export markets of Vietnam.

To get through hardships, maintain stability, and ensure growth, Bidifisco has proactively and flexibly searched for markets, diversified products, and ensured jobs and incomes for employees. In 2022, the company managed to maintain growth and obtained the highest-ever revenue of US$139.87 million.

Sharing about the company's activities in the coming time, Director Lan added, the company will continue to adopt active solutions, apply its valuable experience, anticipate market developments and focus on consistent governance solutions to increase export value. The firm will actively seek information about domestic and foreign supply situations as well as consumer trends to manage its inventories effectively. Besides, it will continue to apply science and technology, improve product quality, diversify product categories and raise added value of products to sharpen its competitive edge and fulfill all business targets.

Remarking on the Binh Dinh investment environment, she said that Binh Dinh has great potential, advantages, and young and abundant human resources. The local business investment environment is also increasingly open. The Provincial Party Committee, the Provincial People's Committee and all tiers of authorities always care for and facilitate businesses and investors from the time they explore opportunities to the time they put their projects into production. In the coming time, Bidifisco hopes to receive more care and support from local authorities to further develop and provide quality products to the global market.

Consequently, Bidifisco will create value and contribute more to Binh Dinh province by paying more to the State Budget, generating higher income for employees, supporting disadvantaged and vulnerable people, and joining hands to build a developed community. In addition, Bidifisco will propose that the Provincial People's Committee and local authorities facilitate land lease extension for Bidifisco at No. 2D Tran Hung Dao Street, Quy Nhon City, until the end of December 2025 to help the company better rebuild its factories.

Manh Dung, Vietnam Business Forum