Vinamilk preparing ambitious plan for Myanmar market

Business News

Vinamilk preparing ambitious plan for Myanmar market

Friday, June 15,2018

AsemconnectVietnam - Vinamilk, the country's leading dairy processor, has drawn up a long-term and ambitious plan for the Myanmar market after achieving success in Cambodia and Laos, said a representative of the company.

Despite not revealing the specific plan, the representative confirmed that Myanmar is a major market in the ASEAN region for Vinamilk.

In May 2016, Vinamilk inaugurated a dairy processing plant in Cambodia, named “AngkorMilk.” This was a joint venture between Vinamilk and its Cambodian distributor and strategic partner, BPC Trading Co., Ltd., with respective stakes of 51% and 49%.

In March last year, Vinamilk spent more than US$10 million acquiring BPC’s stake in AngkorMilk to raise its ownership in the plant to 100%.

Regarding its business in Laos, the dairy processor buys fresh milk from a Japanese partner with organic dairy farms in the neighboring country to supply its dairy processing plant in Nghe An Province, Vinamilk CEO Mai Kieu Lien noted at the firm’s recent annual shareholder meeting.

The firm has plans to develop more organic dairy farms in the central region to meet the rising demand for organic dairy products. Such farms may be built in Laos due to its short distance from Vietnam and favorable natural conditions.

Source: thesaigontimes.vn

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