Vinamilk seeks to expand markets hinh anh 1Illustrative image (Source: Vinamilk)

Hanoi (VNA) – Along with developing the domestic market, the Vietnam Dairy Products Joint Stock Company (Vinamilk) has expanded the consumption of its products to other countries.

So far this year, the firm has enjoyed a 121 percent growth in the Cambodian market, with profit rising seven times due to high demand.

Currently, the total investment of Vinamilk in the market is standing at 25 million USD, and this is expected to double in the future.

Meanwhile, it has signed an agreement with a Laos-Japan joint venture in Laos to form a 25 million USD dairy company, with 51 percent of the company’s shares in its hand.

Moreover, Vinamilk is seeking opportunities in other promising markets 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 past years with reduction in sales of powdered milk and rise in liquid milk and yogurt, according statistics from research and data companies Kantar and Nielsen.

In Vietnam, milk consumption in both rural and urban areas has reduced.

However, Vinamilk General Director Mai Kieu Lien held that the trend is just temporary, and rising tendency is still obvious. She revealed that Vinamilk has enjoyed growth and stable sales of its products, while the market has recorded fall in overall sales.-VNA