Food producer KIDO Group (KDC) has announced that it is entering the beverage industry by setting up a joint venture with dairy giant Vinamilk.
During a recent meeting with Prime Minister Nguyen Xuan Phuc in Hanoi, Calin Dragan, director of Coca-Cola’s Bottling Investments Group in Southeast Asia and the Middle East, said that Coca-Cola is to build a US$300 million facility in the north of Vietnam.
The Saigon Beer, Alcohol and Beverage Corporation (Sabeco) produced a total of 1.72 billion litres of beer in 2017 and saw a 11 percent revenue growth year-on-year, said the corporation.
Deputy Prime Minister Vuong Dinh Hue has hailed the Kirin Holdings Co. Ltd’s investment expansion in Vietnam as a right decision since the country’s beer and beverage market boasts huge potential.
Two companies from Thailand and Singapore, willing to buy state shares in Vinamilk, the nation’s leading dairy producer, belong to one powerful owner.
An increasing number of foreign giants are eying the beverage market in Vietnam due to the country’s young population boom and high demand for fizzy drinks.
There will be stiff competition between domestic and foreign beverage firms as Vietnam integrates further into the world beverage market, with tremendous potential for development.
(VOV) - Business operations in the beverage sector remain stable despite some snags in the national economy.