Camimex Joint Stock Company (FMO-63053)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Specific Location
Mui Ca Mau Biosphere Reserve, Ca Mau
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 14, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Camimex Group Joint Stock Company
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 9.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 9.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jan 22, 2025

Disclosed by Bank Jan 18, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated on the project disclosure page, FMO's funding will be provided in two phases (USD 9mln and USD 6mln), altogether making up to USD 15mln. The facility finances expansionary capex to (i) construct a new processing factory (6,000), including cold storage and fast freezing systems, (ii) construct new organic hatcheries, (iii) working capital required for certifications and purchasing of organic shrimp.

The capex forms part of a larger plan to (i) improve the incomes of ~7,200 smallholder farmers through organic certifications and supplying organic certified PLs, (ii) promote the sustainable management of up to 16,300 hectares of wetlands by promoting sustainable Silvo-aquaculture practices, which includes mangrove cover expansion.

The proposed transactions should strengthen climate adaptation and resiliency of shrimp farmers and sequester carbon through increasing mangrove coverage. It should also help create jobs, strengthen food production & security, improve farmer livelihoods. CMX' vision aligns with FMO's in promoting sustainable aquaculture in Vietnam.

An external High Conservation Values Assessment was conducted as the project takes place in proximity to the Mui Ca Mau Biosphere Reserve and shrimp supplier production taking place in the Indochina mangrove Ecoregion.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the FMO, Camimex Group Joint Stock Company (CMX) is one of Vietnam’s leading processors and exporters of conventional and premium organic shrimps. Established in 1977 in the Ca Mau province of the Mekong Delta, the company processes seafood, mainly shrimps, at three processing factories, with an annual capacity of 15,000t. The company sources organic shrimp from over 1,200 smallholder farmers across 6,300ha of integrated mangrove farms. CMX employs ~1,100 people directly.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Camimex Group Joint Stock Company Client Agriculture and Forestry

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Camimex Group Joint Stock Company:

Address (HQ): 333 Cao Thang Str., Ward 8, Ca Mau City, Ca Mau Province, Vietnam
Phone: +84 290 3831608 - 3838874
Fax: +84 290 3832297 - 3580827
Email: cmc@camimex.com.vn
Website: https://camimex.com.vn/en/

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism

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How it works