The Vietnam Dairy Products Joint Stock Co. (Vinamilk) is now the largest dairy producer in Vietnam, holding half of the liquid milk market share, according to the company’s CEO Mai Kieu Lien.

The company has just put into operation two more plants with a total investment of more than VND4,000 billion (US$185.8 million) in the southern province of Binh Duong, producing powder and liquid milk.

Besides, the company has started work on the construction of a US$23 million joint venture factory in Cambodia, in which it holds a 51% stake.

Vinamilk has also obtained a licence for its US$3-million project in Poland, which will supply farm produce and animal for the production of milk and other drinks while working as a gateway for the company to expand its foothold in Europe.

At the same time, Vinamilk has reaped success from its previous investments. Driftwood Dairy, one of the biggest milk producers in the US federal state of California, in which Vinamilk holds a 70% stake, added VND2,000 billion (US$92.9 million) to the firm’s turnover this year.

In the first nine month of 2014, the company posted a revenue of VND24,362 billion (US$1.13 billion), a 10% year-on-year increase.

Vinamilk’s CEO Mai Kieu Lien said the firm set the target of achieving US$3 billion worth of revenue and being among top 50 of the world’s dairy conglomerates in 2017.

VNA/VNN