Illustrative image (Source: Vinamilk)Hanoi (VNA) – Along with developing the domesticmarket, the Vietnam Dairy Products Joint Stock Company (Vinamilk) has expanded theconsumption of its products to other countries.
So far this year, the firm has enjoyed a 121 percent growthin the Cambodian market, with profit rising seven times due to high demand.
Currently, the total investment of Vinamilk in the market isstanding at 25 million USD, and this is expected to double in the future.
Meanwhile, it has signed an agreement with a Laos-Japanjoint venture in Laos to form a 25 million USD dairy company, with 51 percentof the company’s shares in its hand.
Moreover, Vinamilk is seeking opportunities in other promisingmarkets such as Myanmar, Indonesia, China and the US.
It is holding about 59 percent of the domestic market share,with high potential of further development.
Milk sector’s growth has dropped 5-6 percent over the pastyears with reduction in sales of powdered milk and rise in liquid milk andyogurt, according statistics from research and data companies Kantar andNielsen.
In Vietnam, milk consumption in both rural and urban areashas reduced.
However, Vinamilk General Director Mai Kieu Lien held thatthe trend is just temporary, and rising tendency is still obvious. She revealedthat Vinamilk has enjoyed growth and stable sales of its products, while themarket has recorded fall in overall sales.-VNA
VNA
