Rebuilding Vietnam's shrimp industry won't be easy, but this company has a plan it thinks will work

Once a dominant supplier of shrimp to European buyers, Vietnam has lost that market to rival shrimp-producing countries, particularly Ecuador.

But a new effort is underway to help shrimp producers in Vietnam regain some of their lost market share in one of the largest shrimp-consuming regions in the world.

ShrimpVet and its newly established environmental, social, and governance-focused spinoff EcoSeafood Group believes its has a plan to revolutionize Vietnam's shrimp sector and boost exports in the process.

The underlying conditions for successfully farming shrimp in Vietnam are favorable, partly due to good geographical conditions and a long shrimp farming tradition.