Vinamilk holds 50 percent share of liquid milk market
The Vietnam Dairy Products Joint Stock Co. (Vinamilk) is now the largest
dairy producer in Vietnam, holding half of the liquid milk market
share, according to the company’s CEO Mai Kieu Lien.
The Vietnam Dairy Products Joint Stock Co. (Vinamilk) is now the largest
dairy producer in Vietnam, holding half of the liquid milk market
share, according to the company’s CEO Mai Kieu Lien.
The company has just put into operation two more plants with a total investment of more than 4,000 billion VND (185.8 million USD) in the southern province of Binh Duong, producing powder and liquid milk.
Besides, the company has started work on the construction of a 23 million USD joint venture factory in Cambodia, in which it holds a 51 percent stake.
Vinamilk has also obtained a licence for its 3-million USD project in Poland, which will supply farm produce and animal for the production of milk and other drinks while working as a gateway for the company to expand its foothold in Europe.
At the same time, Vinamilk has reaped success from its previous investments. Driftwood Dairy, one of the biggest milk producers in the US federal state of California, in which Vinamilk holds a 70 percent stake, added 2,000 billion VND (92.9 million USD) to the firm’s turnover this year.
In the first nine month of 2014, the company posted a revenue of 24,362 billion VND (1.13 billion USD), a 10 percent year-on-year increase.
Vinamilk’s CEO Mai Kieu Lien said the firm set the target of achieving 3 billion USD worth of revenue and being among top 50 of the world’s dairy conglomerates in 2017.-VNA
The company has just put into operation two more plants with a total investment of more than 4,000 billion VND (185.8 million USD) in the southern province of Binh Duong, producing powder and liquid milk.
Besides, the company has started work on the construction of a 23 million USD joint venture factory in Cambodia, in which it holds a 51 percent stake.
Vinamilk has also obtained a licence for its 3-million USD project in Poland, which will supply farm produce and animal for the production of milk and other drinks while working as a gateway for the company to expand its foothold in Europe.
At the same time, Vinamilk has reaped success from its previous investments. Driftwood Dairy, one of the biggest milk producers in the US federal state of California, in which Vinamilk holds a 70 percent stake, added 2,000 billion VND (92.9 million USD) to the firm’s turnover this year.
In the first nine month of 2014, the company posted a revenue of 24,362 billion VND (1.13 billion USD), a 10 percent year-on-year increase.
Vinamilk’s CEO Mai Kieu Lien said the firm set the target of achieving 3 billion USD worth of revenue and being among top 50 of the world’s dairy conglomerates in 2017.-VNA
You should also see
Dien Bien Phu Victory echoes, 70 years on
Seventy years ago, Vietnam won the Dien Bien Phu battle, forcing the French government to sign the Geneva Agreement in July 1954 and marking the end of the French military presence in the whole Indochina.
See more
Business
Old loans must endure higher interest rates temporarily: central bank
The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
Business
Vietnam among top domestic infrastructure investors: Ambassador
Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development, allocating 5.7% of its Gross Domestic Product (GDP) to projects in this field, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN).
Business
Vietjet adds more flights to Dien Bien
To meet the rising demands to visit Dien Bien of people and tourists during the celebration of the 70th anniversary of the Dien Bien Phu victory, Vietjet increased the frequencies of flights between Hanoi, Ho Chi Minh City and the northwestern province to 28 per week.
Videos
Agro-forestry-fisheries products nearly double in Q1
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at over 13.5 billion USD, up nearly 22% over the same period last year, according to the Ministry of Agriculture and Rural Development.
Business
Beautycare Expo 2024 opens in Hanoi
The Beautycare Expo 2024 kicked off Hanoi on April 18, featuring over 250 booths from more than 15 countries and territories.
