THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Boosting domestic powdered milk production
VGP - PM Nguyen Tan Dung on April 22 in the southern province of Binh Duong cut the ribbon to inaugurate a fresh powdered milk factory funded by Viet Nam Dairy Products Joint Stock Company (Vinamilk).
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The inauguraion ceremony of US$96 million powdered milk factory, Binh Duong, April 22, 2013 - Photo: VGP/Nhat Bac |
The new project would help stabilise the price of domestic formula, while giving customers access to high quality and cheap milk products.
Built at a cost of nearly VND 2 trillion (US$96 million), the 60,000 sq.m factory is capable of producing 54,000 tonnes of formula a year.
The new factory will raise the revenue of the formular company to US$3 billion in 2017 and convert Vinamilk into one of the world’s 50 largest milk producers.
Addressing the event, PM Dung said that the company set a bright light in the national economy with total revenues of VND27.3 trillion (US$1.3 billion).
Milk consumption in Viet Nam yearly increases by 20%. However, local producers only meet 25%of domestic demand for fresh milk and 30% of powdered milk. The country annually imports US$850 million of dairy materials and products.
The Government has set a goal of producing 1.9 billion litres of fresh milk and 80,000 tonnes of formula per year by 2015./.
By Khanh Phuong