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Aquaculture

Vietnam’s Phuong Nam in bank buyout; new farms, plant in works

Lien Viet Post bank has restructured and renamed the $36m fraud-hit Vietnamese shrimp operation, and has been awarded 1,000ha of land for new farms

By Neil Ramsden | Aug. 11, 2016 09:00 BST
Phuong Nam shrimp processing vietnam
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HO CHI MINH CITY, Vietnam -- Vietnamese shrimp processor Phuong Nam Seafood – which has been in recovery mode since a $36.7 million fraud scandal sent it bankrupt in 2012 – has been restructured, renamed, and is close to a full takeover. [...]

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