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GenoMar opens subsidiary in Vietnam

GenoMar Genetics is expanding its reach to Vietnamese tilapia farmers by opening a wholly-owned subsidiary in Vietnam. 

The first hatchery centre located in Tây Ninh province is under construction and is expected to deliver its first products by third quarter this year. A second hatchery is currently in the works in northern Vietnam with an expected operation by early 2022. 

The company says its new Vietnam brand will have a capacity to produce 50 million fingerlings per year to supply the domestic market within Phase 1.  

“After a successful deployment of our business in Latin America region, we are ready to gear up efforts in Asia,” said Alejandro Tola Alvarez, CEO, GenoMar Genetics Group. “Vietnam is the first flag we plant in Asia in recent times, and we hope it will be the beginning of an expansionary effort in the region in coming years.”

GenoMar has also established production of tilapia fingerlings in the Philippines and Malaysia. 

www.genomar.com