Minh Phu Seafood Corporation (MPC), Vietnam’s biggest shrimp exporter, has recently approved a plan to set up a wholly owned subsidiary in Australia with US$100,000 registered capital.
The new firm, MP Seafood Australia Pty Ltd, will be led by former Investment Director Phan Vinh Hien.
Australia remains a key market for MPC, contributing Dong 858.8 billion ($33 million) in revenue in the first half of 2025, equal to 13.2% of total sales. However, revenue from this market fell 21% compared with the same period in 2024.
The move expands MPC’s international presence, which already includes subsidiaries in the US and Japan. As of 30 June 2025, MPC operates 16 subsidiaries covering aquaculture, logistics, breeding, bio-products, and seafood supply chains.
In first half 2025, MPC earned a net profit of Dong 177 billion (US$6.7 million), up 4-fold year on year, with total revenue of Dong 6.47 trillion (US$245 million). For the whole year (2025), MPC aims for total revenue of Dong 15.67 trillion (US$593 million).
