Vice President Truong My Hoa called on Vietnam’s leading dairy producer Vinamilk to develop into a powerful economic player to face competition during the country’s integration into the global economy.
Hoa, during her working visit to the Ho Chi Minh City-based company, urged Vinamilk to further improve quality and boost diversification of its products, as well as scout out new market. It should also focus its investment on centralized material zones like financing farmers to develop dairy cow herds and taking the initiative in raw material sources, in order to achieve sustainable development, she added.
The listed dairy maker was oriented to target 50% of material for dairy production sourcing domestically in the next five years. Vinamilk was a favourite among foreign investors because of its solid performance. The company, which holds 75% of the dairy market, is valued at 930 mio US$. It has invested in other businesses, including the packaging company V-Pack and infrastructure and property projects.It has also invested nearly 747,000 US$ to construct V.Mart convenience stores throughout the country, aiming to cement distribution of its award winning products.
Vinamil-branded products have exported to the US, Canada and France, among other markets.
The firm plans to list its shares on the Singapore stock exchange this year.
Source: Thanh Nien
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