I.D.I INTERNATIONAL DEVELOPMENT AND INVESTMENT CORPORATION, registered under the Business ID (TIN) 0303141296, is located at Highway 80, Vam Cong Industrial Cluster, An Thanh Hamlet, Binh Thanh Commune, Lap Vo District, Dong Thap Province, Vietnam. The company commenced operations on 15 Jul 2003, marking its official entry into the business sector. With a charter capital of VND 2,276,446,080,000, I.D.I INTERNATIONAL DEVELOPMENT AND INVESTMENT CORPORATION is financially equipped to support its business activities. The company specializes in processing and preserving of fisheries and fishery products, providing a diverse range of products and services. The strategic decisions of I.D.I INTERNATIONAL DEVELOPMENT AND INVESTMENT CORPORATION are overseen by LE T.T and LE T.A and LE V.C and NGUYEN T.H and VO T.M.T and LE T.T and NGUYEN D.P, who plays a critical role in guiding the company's direction.
Established in 2003, the subject - IDI is known as an extremely large company in the field of processing pangasius products. Its target is completing a closed processing chain.
According to the subject’s 2023 annual report, the subject exported to over 160 customers in 52 countries and territories around the world. The Chinese market accounted for more than 34% and the Mexican market accounted for nearly 27% of total export revenue in the last two years. To expand the scale of operations and develop new products from pangasius raw materials, IDI has completed legal procedures to invest in building more seafood processing factory No. 3 with a designed capacity of 180 tons of raw materials/12 hours/day, expected to be completed in the fourth quarter of 2025. This will help the subject significantly increase export capacity to the US market. At the same time, the company plans to increase the operating capacity of the fishmeal-fish oil factory (directly managed by Travel Investment and Seafood Development Corporation) and build a seafood packaging factory to optimize the seafood production chain.
Starting from the end of 2022, the consumption and import of Vietnamese seafood in major markets such as USA and EU decreased when the economic recession put pressure on consumer spending. While the price of raw shrimp and pangasius remained high due to low supply and high seafood feed prices, the output selling price of seafood enterprises also decreased due to large export markets being in a state of persistent inflation and slow inventory consumption. As publicized, IDI encountered a decrease in export orders in 2023 and a drop in the average price of exported pangasius products by 35% compared to 2022. Since the fourth quarter of 2022, IDI's profits began to decline until the fourth quarter of 2023. Generally, the subject only completed about 89% of the revenue target and 39% of the profit target for the whole year.
The 2024 Annual General Meeting of Shareholders approved the business plan with a net revenue target of VND 8,499 billion and a profit after tax target of VND 276 billion this year. This business plan is outlined in the context that pangasius exports are expected to have positive growth prospects (especially from the second half of 2024), thanks to a gradual recovery in demand from major markets like USA, Japan, and China. In addition, the import of Russian pollock is also restricted by Western countries, so Vietnamese pangasius is also forecasted to benefit in 2024 when exporting to EU market. Besides, the Board of Directors issues the plan to issue shares to pay dividends for 2022 and 2023 at a rate of 20%. Accordingly, the charter capital will increase to VND 2,732 billion. The above plan is expected to be immediately implemented after receiving the State Securities Commission's approval.
The basic company report from Vietnam Business Information covers fundamental aspects and highlights the core competencies and operational focus of I.D.I INTERNATIONAL DEVELOPMENT AND INVESTMENT CORPORATION. Additionally, the comprehensive company report provides an in-depth analysis and valuable opinions from Vietnam Business Information’s professional analysts.