May 4, 2007

Vietnam to invest US$137 million for milk production

Vietnam's Industry Ministry has approved a development plan for the production of milk until 2010, with a total investment of 2,195 billion VND (US$137.19 million) to raise per capital milk supply to 10 kilograms (kg) a year by 2010 and 20 kg by 2020.

According to the Vietnam News Agency, the industry achieves to have an annual growth rate of 5 to 6 percent in the next five years.

The development plan calls for the construction of processing plants in major dairy cow breeding areas in northern, central and southeastern regions while small factories are designed for small-scale breeding areas in mountainous and mid-land provinces.

The ministry also plans to penetrate the international markets with its dairy products in assistance from the Trade Ministry.

Investment for the plan will be mobilised from loans, foreign investment and the issuance of corporate bonds and shares, as well as Official Development Assistance (ODA) source.