There is significant market demand and opportunities for agricultural manufacturers for improved quality and production over a variety of agricultural products in Vietnam.
Headquartered in Neutraubling, Germany, Krones Group, a manufacturer of lines for filling beverages in plastic and glass bottles or beverage cans, has converted its representative office in Ho Chi Minh City and branch office in Hanoi, Vietnam, into a subsidiary known as Krones Vietnam Company Limited.
With a population of more than 93 million, that’s increasing both in size and purchasing power, Vietnam is an extremely attractive market to the food and beverage sector.
Dutch brewing company Heineken has purchased a brewery in Vietnam from Carlsberg for an undisclosed amount.
The Vietnam’s government has removed a longstanding foreign-ownership limit on dairy manufacturer Vinamilk (Vietnam Dairy Products JSC) , which is the one of the country’s largest companies with a market capitalisation of about US$8 billion. The move is said to further boost overseas interest in the world’s fastest-growing markets.
One of Vietnam’s largest producer of soybean oil Bunge Limited and Wilmar, the world's largest palm oil processor and one of the biggest soybean buyers, are forming a joint venture in Vietnam to leverage both companies’ footprints in Asia.
Japanese company Ajinomoto Co. has announced that they will be increasing production capacity at its Bien Hoa Factory in Dong Nai, Vietnam to meet growing demand in the Southeast Asian country for umami seasoning Aji-no-moto.
Businesses in Vietnam and Thailand plan to invest a total of US$3.7 billion in milk and dairy production in Russia, helping the country replace imports affected by trade sanctions on traditional suppliers.
With the Trans-Pacific Partnership (TPP) set to eliminate the country’s tariffs on imports, the emerging Vietnam market will soon be opened to all players for agricultural and dairy products.