Vinamilk's Determination to Expand Its Brand Presence in Asia-Pacific Region to Achieve Annual Targets
December 03, 2020 at 04:40 am EST
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Vinamilk's international trade strategy in Asia-Pacific prioritizing for regional brand exposure and participation in new value chains are showing positive signs. This direction clearly demonstrates Vinamilk's dynamism and acumen, especially as Vietnam recently enters the Regional Comprehensive Economic Partnership Agreement (RCEP). While the Middle-East region is known as one of Vinamilk's solid export markets, Asia-Pacific is a potential market that Vinamilk has been continuously investing in. Currently, Vinamilk's products are present in all 15 countries under the RCEP. Fresh milk and yogurt products are well received by South East Asian consumers while the premium Vinamilk organic milk is increasingly popular in Singapore and Thailand. Moreover, keen to penetrate and expand to more developed markets such as Japan, Korea and China, Vinamilk is implementing 'bespoke' strategies on brand awareness, product diversity, and niche market tactics etc. Specifically, in 2020, Vinamilk's brought to the Korean market its innovative plant-based milk, milk tea, and coconut water, both on the traditional convenience store and e-commerce channels. Vinamilk, concurrently, is prioritizing for development in the China market by building its own brand and distributing Vinamilk key products such as condensed milk and yogurt in the local market. Along with its commitment to maintaining open markets for goods, services, and investments, RCEP creates a framework to simplify customs procedures and establish rules of origin, facilitate trade, and create a unified connection. Once implemented, the RCEP Agreement will provide its members advantageous opportunities to access a market with 2.2 billion consumers, including the ASEAN market and 5 countries in the Asia-Pacific region. RCEP is a crucial factor for businesses to take part in regional and global supply chains.
Vietnam Dairy Products JSC (Vinamilk) is a Vietnam-based company engaged in the food processing industry, specifically, the dairy industry. It is involved in the manufacturing, marketing, wholesale trading and retail distribution of dairy products, such as milk of various forms and flavors, including fluid milk, powdered milk and sweetened condensed milk, along with yogurt, frozen yogurt, ice cream, cheese and infant nutrition flour. Other products include soya milk, rice milk, bottled coffee, sugar, bottled juice and other non-alcoholic beverages. The Company also provides packaging and logistics services, beside technical support to farming and breeding processes.