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Japanese dairy giant, Megmilk Snow Brand will establish a subsidiary in Vietnam with a registered capital of Dong 265 billion (US$14 million) this September.
The subsidiary unit will manufacture and sell cheese.
Megmilk has done a comprehensive assessment of the market and has deduced that the Vietnamese cheese market is rapidly expanding due to economic growth as well as the growing number of middle class population in the country.
The opening of the new unit forms part of Megmilk overseas expansion strategy with special focus on Southeast Asia, East Asia and Oceania.
Presently, Vietnam’s dairy production can only meet 40% of the local demand.
