Two major state-owned confectionery firms, Huu Nghi and Hai Ha, recently transferring to private ownership is expected to pave the way to becoming market leaders.
Confectionery, one of the fastest growing foodstuff exports in Vietnam, is receiving more investments from manufacturers.
Foodstuff producer Kido Joint Stock Company (KDC) is increasing stake acquisitions in vegetable oil manufacturing companies as part of its strategy to penetrate deeper into the food and spice market.
As Kinh Do has sold its sweets manufacturing division to the US firm Mondelez, Vietnam has no company that can compete with foreign manufacturers in the sweets market.
(VOV) - Mondelez International, the world's pre-eminent maker of chocolate, biscuits, gum and candy, on November 11 announced plans to acquire an 80 percent stake in Kinh Do Corporation, the leading snack business in Vietnam, for US$370 million.