One of Vietnam’s most established food processors is at the center of a major food safety investigation after police uncovered more than 120 tonnes of pork infected with African swine fever allegedly destined for canned food production.
The case has sent shockwaves through Vietnam’s consumer market and raised red flags for investors and trade partners, given the company’s long standing reputation and regional accolades.
What authorities uncovered
Police in Hai Phong have launched a criminal investigation into alleged violations of food safety regulations at Ha Long Canfoco, also known as Ha Long Canned Food Joint Stock Company.
Investigators say a network purchased pork infected with African swine fever and attempted to pass it off as safe raw material. More than 120 tonnes of diseased pork were found stored at the company’s warehouse. Around two tonnes had already been processed into canned meat products before authorities intervened.
Nine suspects have been charged as the investigation expands.
A trusted brand with a long history
Founded in 1957 as the Ha Long Fish Cannery, the company has been a pioneer in Vietnam’s processed food industry. Over nearly seven decades, it has built a nationwide distribution network and an export footprint, supplying canned meat, seafood, vegetables, sausages, and frozen foods.
Ha Long Canfoco has marketed itself as a flagship Vietnamese brand and in 2024 received a “Top 50 Strong ASEAN Brands” award, further boosting its regional profile.
At its peak, the company reported annual revenue of up to VND 864 billion, roughly US$34 million, placing it among the country’s top food processors.
Financial performance before the scandal
According to its third quarter 2025 financial statements, Ha Long Canfoco recorded revenue of VND 179.6 billion, down 11 percent year on year. However, sharp cost reductions pushed gross profit up 13 percent to VND 43.3 billion. Net profit reached VND 7.6 billion, nearly four times higher than the same period a year earlier.
For the first nine months of 2025, revenue totaled VND 486.9 billion, down nearly 10 percent. Despite the sales decline, net profit after tax reached VND 11.5 billion, a dramatic turnaround from a VND 5.8 billion loss in the same period of 2024.
Company representatives attributed the profit improvement to lower input costs and reduced management expenses.
Expansion plans now in question
Just weeks before the scandal broke, Ha Long Canfoco announced plans to raise capital through a public share offering. The company aims to raise VND 75 billion to build a new canned food factory and boost working capital. Shareholders had also approved a plan to double charter capital to VND 100 billion through a discounted rights issue scheduled for 2026.
Those plans now face uncertainty as consumer trust and regulatory scrutiny intensify.
Why this matters internationally
For international readers, the case highlights the growing risks facing food supply chains in fast expanding emerging markets. African swine fever poses no direct risk to humans, but strict controls are critical to prevent market contamination and maintain export credibility.
The investigation also underscores Vietnam’s tougher enforcement stance on food safety violations, even when they involve large, well known companies. For investors, importers, and regional trade partners, the Ha Long Canfoco case is a reminder that brand prestige and past awards offer no shield from regulatory action.
As authorities continue to unravel the case, its outcome could have lasting implications for Vietnam’s food processing sector and its reputation in regional and global markets.
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Source: Vietnam Insider