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28 Jun 2019, Gergana Bencheva, EMIS Editor

Vietnam’s dairy companies to make greater investments

Vietnam’s dairy companies have committed to making greater investments, especially in areas such as renovating technologies and building material area, Vian Industry News reported. According to the secretary general of the Vietnam Milk Association, Vu Ngoc Quynh, the players in the sector also need to improve productivity and reduce production costs.

By 2020, the average dairy product demand in the country is expected to grow to 28 liters per year. In the meantime, in 2018, Hanoi imported USD 963 million worth of dairy products and the figure is expected to grow in the coming years.

Vietnam is also looking to export dairy products. For example, the country’s leading producer Vinamilk has signed a co-operation deal to export its production to China, Vian Industry News noted.

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