I.D.I INTERNATIONAL DEVELOPMENT AND INVESTMENT CORPORATION

I.D.I INTERNATIONAL DEVELOPMENT AND INVESTMENT CORPORATION (CÔNG TY CỔ PHẦN ĐẦU TƯ VÀ PHÁT TRIỂN ĐA QUỐC GIA I.D.I), known as IDI, has built a significant footprint in Vietnam’s pangasius export sector, but its earnings tell a more sobering story. Although the company reported assets of over USD 385 million in 2024 and maintains strong working capital of USD 102 million, profit has sharply declined from USD 23.1 million in 2022 to just USD 2.99 million—down nearly 87% over two years.

IDI operates with more than 2,100 employees and is listed on the HOSE under the stock symbol IDI. Its principal activities include raising and exporting frozen pangasius, processing fish oils, producing aqua feed, and engaging in real estate and rubber plantation investments. The firm is headquartered in Dong Thap Province, with a representative office in Ho Chi Minh City.

Revenue has also contracted—USD 293.2 million in 2024, a 1.17% drop from 2023, continuing a downward trend since 2022. Despite the modest increase in assets and equity, the declining profitability signals either pressure on margins, inefficiencies in operations, or volatility in export markets. This is particularly relevant in a sector like aquaculture, which is sensitive to international demand shifts, feed costs, and environmental regulation.

SAO MAI GROUP CORPORATION holds majority ownership (51.23%), while the rest is dispersed. The influence of this controlling shareholder may affect corporate strategy, financial discipline, and external transparency.

Given the disconnect between asset growth and earnings, any stakeholder engaging with I.D.I INTERNATIONAL DEVELOPMENT AND INVESTMENT CORPORATION would benefit from in-depth risk assessments. Firms like VANGUARD BUSINESS INFORMATION LLC (VBI) offer business verification and financial integrity reports that can reveal operational realities hidden behind headline financials. As it stands, IDI’s declining profits raise critical questions about sustainability in one of Vietnam’s most export-dependent industries.