Australis willing to invest $1 billion to advance sustainable development in Vietnam

Josh Goldman, CEO of Australis Aquaculture, made the statement while receiving a delegation led by Minister of Natural Resources and Environment Dang Quoc Khanh. The delegation paid a visit to Australis’ sustainable aquaculture operations in Van Phong Bay of Khanh Hoa.

Goldman shared, "The company exports approximately 10,000 tonnes of fish per year with four processing factories in the locality. With this output, Australis Aquarium is the world's largest barramundi farming, processing, and export company."

"Approximately 80 per cent of the company's output will be exported to the United States. To facilitate its development goal, the company is willing to invest $1 billion to advance sustainable development in Vietnam in general and in Khanh Hoa in particular," he added.

Aquaculture businesses such as Australis have plenty of room to expand in the face of dwindling conventional fish supplies and increasing seafood demand worldwide. The company aims to expedite Vietnam's shift to a more prosperous, sustainable, and healthy future for the ocean.

Last year, Australis announced the signing of an MoU with Khanh Hoa to invest an additional $100 million for the expansion of its sustainable aquaculture operations in Van Phong Bay. The signing was made during US President Joe Biden’s visit to Vietnam in September 2023. With the additional investment, the company plans to increase its capacity to 50,000 tons of barramundi production annually.

Australis Vietnam was one of the earliest foreign-invested enterprises present in Van Phong Economic Zone. After more than 15 years, it has invested about $200 million to apply the world's most advanced aquaculture technology to Vietnam's unique climate, conditions, and native species.

Massachusetts-based Australis Aquaculture will sign an MoU with Khanh Hoa province to invest an additional $100 million in the expansion of its sustainable aquaculture operations in Van Phong Bay.

Deputy Prime Minister Le Van Thanh has signed a decision to promulgate a national plan on aquaculture development in the 2021 – 2030 period.

The Norwegian Embassy in Hanoi and the Vietnam’s Ministry of Agriculture and Rural Development (MARD) last week co-organised a seminar to discuss cooperation opportunities in aquaculture and seafood.