Vinamilk has recently partnered with Topmost Enterprise Co., Ltd of Thailand, aiming to expand the distribution of its dairy products in the country – a market worth 60 bln baht (over 1.7 bln USD)
Hanoi (VNA)🌳 - Dairy giant Vietnam Dairy Products (Vinamilk) has recently partnered with Topmost Enterprise Co., Ltd of Thailand, aiming to expand the distribution of its dairy products in the country – a market worth 60 billion baht (over 1.7 billion USD).
This is part of the firm’s efforts to expand its presence abroad, towards becoming one of the world’s top 50 dairy firms
Managing director of Topmost Enterprise Siwat Thamaratnothai asked Vinamilk to let his firm serve as a distributor of Vinamilk in Thailand after enjoying a Vinamilk yoghurt during a trip to Vietnam.
Three months ago, the firm began selling Vinamilk yoghurt in Thailand at selected shops such as Lawson convenience stores and Foodland supermarkets, among others.
Vinamilk yoghurt is priced at 17-19 baht (about 0.5 USD a cup), higher than other brands. Topmost Enterprise plans to expand distribution in the second quarter of next year.
A market analyst said Vinamilk has huge potential in Thailand. The yoghurt market in Thailand is worth an estimated 4.9 billion baht (nearly 140 million USD) in 2016.
After yoghurt, Topmost Enterprise also plans to sell Vinamilk UHT milk in Thailand.
Vinamilk has mostly focused on the domestic market over the last four decades, with the last 18 years seeing shipments of its products abroad.
The firm spent 10 million USD purchasing all the shares in the Driftwood factory – a leading milk producer in North California, the US. Driftwood earned 119 million USD in revenue last year, contributing 6.5 percent to Vinamilk’s total revenue.
Apart from Driftwood Dairy, Vinamilk also owns stakes in dairy companies in Poland, New Zealand and Cambodia.
Vinamilk holds a 55-percent market share in Vietnam’s dairy industry, partly thanks to spending more than 6.5 trillion VND (291.3 million USD) on building highly automated factories over the last five years.
Last year, the firm raked in over 40 trillion VND (1.8 billion USD) in revenue, a year-on-year increase of 15 percent, contributing over 3.9 trillion VND to the State budget.
Vinamilk’s products are sold in about 1,500 supermarkets and 600 convenience stores across the country, and exported to 43 countries and territories worldwide.-VNA
Vietnamese shares fell further on September 7, driven down by dairy firm Vinamilk while foreign investors remained net sellers for six consecutive sessions.
Vietnam Dairy Products Joint Stock Company (Vinamilk) has become a leading business in the local milk industry after four decades of development, and now is stretching its reach to global markets.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
Illustrative image (Source: Internet)
