Viet Long Capital to pour $5 million into sea cucumber processors

December 26, 2023 | 17:41

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Viet Long Capital is set to make a substantial impact in the aquaculture sector with a strategic $5 million investment in Vietnam Sea Cucumber Investment Corporation.

Viet Long Capital to pour $5 million into sea cucumber processors

The partnership agreement was formalised on December 23 in Ho Chi Minh City. The signatories included Vo Ngoc Huy, deputy CEO of Viet Long Capital, and Le Thanh Nhan, chairman and CEO of Vietnam Sea Cucumber Investment Corporation.

Speaking on the occasion, Nhan expressed his enthusiasm for the collaboration, "This partnership is a tremendous opportunity for growth. With the backing of Viet Long Capital, we are poised to expand our production significantly, enhance the quality of our products, and intensify our marketing and branding efforts."

Recognising the untapped potential in the sea cucumber market, Huy said, "As a luxurious and nutritional product with growing global appeal, sea cucumbers represent a lucrative opportunity, especially with the current restrictions on natural harvesting due to their red-listed status. By leveraging its expertise and our financial strength, our collaboration with Vietnam Sea Cucumber is poised to create a national brand of significant stature."

Vietnam Sea Cucumber Investment Corporation has developed a comprehensive, closed-loop system for industrial-scale sea cucumber cultivation and processing.

The company has chosen coastal provinces in the central region as its main hub due to their ideal climatic and geographical conditions, particularly the warm sea waters that are conducive to sea cucumber cultivation.