Illustrative image (Source: VNA)
 
Hanoi (VNA) – Vietnam’s leading dairy producer Vinamilk will export products to China following the signing of a memorandum of understanding (MoU) between the firm and a Chinese partner last week.

The agreement was reached on the sidelines of the high-level Belt and Road Forum in Beijing, China on May 14-15 where enterprises from Vietnam and China met and updated each other on their countries’ investment policies.

Vinamilk is the first and only Vietnamese milk supplier in the Chinese dairy market, which is worth some 30 billion USD a year.

Vinamilk is the largest dairy firm in Vietnam and among the top 50 global dairy companies in terms of revenue.

Last year, the dairy producer exported 258 million USD worth of products to 43 countries worldwide, including the US, Japan, Thailand and the Philippines.

It has ten large-scale dairy farms across the country with most cattle originating from Australia, the US, and New Zealand. The farms were among the first in Southeast Asia that met Global Good Agricultural Practice standards.

In addition, it rolled out the country’s first EU-standard organic dairy farm certified by the Control Union from the Netherlands in March.

Vinamilk’s dairy factories are supplied with about 750 tonnes of raw milk daily from its own farms and contracted household farmers.

The company plans to increase the number of dairy cattle to about 200,000 by 2020 to double raw milk output.

Vinamilk also owns 100 percent of the Angkor dairy factory recently launched in Cambodia and has acquired full ownership of the US-based Driftwood Dairy. It also purchased 22.8 percent of New Zealand’s Miraka Ltd.,Co. -VNA