Giant dairy producer Vinamilk has set a target of earning VND80 trillion (US$3.51 billion) in revenue in 2021, the company’s general director Mai Kieu Lien said. Revenue from the domestic market is forecast at VND61 trillion, making up 75 per cent of the total, while the remaining VND19 trillion is expected to come from overseas markets.
The company’s annual revenue growth rate in the domestic market is projected at 10 per cent, she said.
To achieve these ambitious goals, Lien said the company was focusing on enhancing milk quality. Early this year, it opened an organic dairy farm in Da Lat City in the Central Highlands province of Lam Dong – the first dairy farm in Viet Nam certified under European Union standards.
The VND200 billion farm has more than 500 cows in this initial stage, which will increase in the future.
In 2017 alone, Vinamilk has targeted total revenue of VND51 trillion, up eight per cent against the previous year, and post-tax profit of over VND9.7 trillion, a year-on-year increase of four per cent.
According to information released at a review conference held by the Steering Committee for Business Renovation and Development in Ha Noi recently, the State Capital Investment Corporation has submitted to the Prime Minister two ways to sell State-owned capital at Vinamilk. However, the details of the proposals have not yet been disclosed.