Japan’s Sojitz, Vinamilk builds $500 mln breeding, beef processing complex

By Tuong Thuy
Wed, March 8, 2023 | 3:15 pm GMT+7

Japanese company Sojitz and Vietnam’s largest dairy manufacturer Vinamilk on Wednesday broke ground on their $500-million complex for raising cows and supplying beef located in northern Vietnam, a project expected to advance Vietnam’s livestock industry.

The project, a 49-51 joint venture between Sojitz and Vinamilk subsidiary Vilico, will cover almost 76 hectares in Tam Dao district of Vinh Phuc province bordering Hanoi. Therefore, it is named Vinabeef Tam Dao.

Vinamilk is the largest dairy producer in Vietnam. Photo courtesy of the firm.

Vinamilk is the largest dairy producer in Vietnam. Photo courtesy of the firm.

The Japanese trading house and Vilico signed a memorandum of understanding for the project in late 2021. The joint venture expects to put the complex into operation next year, serving the Vietnamese market and exports.

As for meat supply, the project is expected to have approximately 30,000 beef cattle a year in the first phase. In the next stage, the project would supply protein-based products.

Addressing the groundbreaking ceremony, Vietnamese Minister of Industry and Trade Nguyen Hong Dien asked Vinh Phuc provincial authorities to provide full support to the project so that construction and development can take place as scheduled.

VIPs at the project groundbreaking ceremony in Tam Dao, Vinh Phuc province, northern Vietnam on March 8, 2023. Photo courtesy of Vietnam’s Industry and Trade newspaper.

VIPs at the project groundbreaking ceremony in Tam Dao, Vinh Phuc province, northern Vietnam on March 8, 2023. Photo courtesy of Vietnam’s Industry and Trade newspaper.

Vinamilk, considered a dairy king in Vietnam, is seeking to diversify from its mainstay business and develop the domestic beef market.

Vietnam's population of almost 100 million people consume around 500,000 tons of beef per year, according to Sojitz. The joint venture between Sojitz and Vilico has already imported beef from Japan and distributed the meat, branded Vinabeef, in Vietnam.

The Vinabeef Tam Dao project will distribute domestic beef with the same brand next year, from cattle raised at the new complex.

Comments (0)
  • Read More
Vietnam becomes Australia’s fastest-growing inbound market

Vietnam becomes Australia’s fastest-growing inbound market

The number of Vietnamese tourists to Australia has grown significantly after the Covid-19 pandemic, with nearly 178,000 reported in the 12 months to August 2024, according to a Friday press release by the Australian Minister for Trade and Tourism’s Office.

Southeast Asia - Fri, November 1, 2024 | 10:02 pm GMT+7

Study finds shift in Thai consumers’ spending patterns

Study finds shift in Thai consumers’ spending patterns

Consumers in Thailand are shifting their spending focus to experiences and investments, according to the latest ASEAN Consumer Sentiment Study (ACSS) by United Overseas Bank (UOB).

Southeast Asia - Fri, November 1, 2024 | 10:00 pm GMT+7

Energy security, digitalization key to Indonesia's economic growth

Energy security, digitalization key to Indonesia's economic growth

The Indonesian government is prioritizing long-term economic growth through energy security, digitalization, and natural resource industrialization, according to Deputy Minister of Finance Thomas Djiwandono.

Southeast Asia - Fri, November 1, 2024 | 9:58 pm GMT+7

Vietnam PM's Middle East tour creates breakthroughs in economic, trade, investment cooperation: FM

Vietnam PM's Middle East tour creates breakthroughs in economic, trade, investment cooperation: FM

Prime Minister Pham Minh Chinh’s freshly ended six-day trip to the UAE, Saudi Arabia and Qatar has produced important outcomes, demonstrating the growing relations between Vietnam and the three Middle-East countries, Deputy Prime Minister and Foreign Minister Bui Thanh Son told the Vietnam News Agency.

Politics - Fri, November 1, 2024 | 9:25 pm GMT+7

Vietnam, Qatar look to tap potential for energy, oil & gas collaboration

Vietnam, Qatar look to tap potential for energy, oil & gas collaboration

Vietnam and Qatar have recognized the significant potential for further collaboration in multiple sectors such as energy, oil and gas, especially LNG, agriculture, Halal industry, and banking.

Politics - Fri, November 1, 2024 | 9:02 pm GMT+7

Thailand bans export of raw palm oil until December

Thailand bans export of raw palm oil until December

Thailand's Department of Internal Trade has temporarily banned the export of raw palm oil due to reduced production caused by drought and plant diseases.

Southeast Asia - Fri, November 1, 2024 | 8:31 pm GMT+7

Envision Energy to build $420 mln wind power plant in Vietnam from June 2025

Envision Energy to build $420 mln wind power plant in Vietnam from June 2025

Envision Energy Singapore Pte Ltd, under China-based Envision Energy, aims to kick off construction of the 300-MW Envision Nam Po wind power plant in Vietnam’s northern mountainous province of Dien Bien in June 2025.

Energy - Fri, November 1, 2024 | 8:30 pm GMT+7

Indonesia to ban plastic waste imports from 2025

Indonesia to ban plastic waste imports from 2025

The Indonesian government will start imposing a ban on the import of plastic waste from the beginning of next year, according to Minister of Environment Hanif Faisol Nurrofiq.

Southeast Asia - Fri, November 1, 2024 | 8:29 pm GMT+7

Islamic economy makes up 48% of Indonesia’s GDP

Islamic economy makes up 48% of Indonesia’s GDP

The contribution of Islamic business activities to Indonesia’s GDP has been estimated at 48%, local authorities reported at the 11th Indonesia Sharia Economic Festival (ISEF).

Southeast Asia - Fri, November 1, 2024 | 8:28 pm GMT+7

Restructured construction giant Tracodi gets set to execute ambitious plans

Restructured construction giant Tracodi gets set to execute ambitious plans

After changing its name and restructuring as a group, Tracodi Construction Holdings JSC (HoSE: TCD), a member of Bamboo Capital Group (HoSE: BCG), has completed a leadership shake-up and is poised to achieve rapid growth.

Bamboo Capital - Fri, November 1, 2024 | 4:43 pm GMT+7

Philippines requests companies to pay for plastic waste treatment

Philippines requests companies to pay for plastic waste treatment

The Philippines expects its "Extended Producer Responsibility" (EPR) that came into force last year will help it curb plastic waste

Southeast Asia - Fri, November 1, 2024 | 4:30 pm GMT+7

Indonesia warns of rising online terrorism

Indonesia warns of rising online terrorism

Indonesia's National Counter-Terrorism Agency (BNPT) has warned of a shift in terrorism tactics, moving from public attacks to online platforms that target vulnerable groups, particularly women and children.

Southeast Asia - Fri, November 1, 2024 | 4:29 pm GMT+7

Singapore establishes global fintech network

Singapore establishes global fintech network

The Monetary Authority of Singapore (MAS) on Wednesday announced that it has established a “Global Finance & Technology Network” (GFTN) to propel Singapore’s reputation as a premier global fintech hub into its next phase and enhance global connectivity.

Southeast Asia - Fri, November 1, 2024 | 4:28 pm GMT+7

Nokia, Viettel deploy 1.2 Tb/s optics transmission in Vietnam, to help 5G growth

Nokia, Viettel deploy 1.2 Tb/s optics transmission in Vietnam, to help 5G growth

Finnish giant Nokia and Vietnamese telco Viettel have rolled out high-capacity optical network after achieving an optics transmission speed record of 1.2Tb a second per wavelength in Vietnam.

Companies - Fri, November 1, 2024 | 3:40 pm GMT+7

Korea SK Group sells 76 mln shares of Vietnam’s Masan, no longer major shareholder

Korea SK Group sells 76 mln shares of Vietnam’s Masan, no longer major shareholder

South Korea’s chaebol SK Group has sold 76.28 million shares of Vietnam’s conglomerate Masan, lowering its ownership in Masan to 3.67% of the charter capital and 3.86% of the voting shares.

Companies - Fri, November 1, 2024 | 3:16 pm GMT+7

HCMC-based Bamboo Capital's energy arm fulfils 98% of profit target in 9 months

HCMC-based Bamboo Capital's energy arm fulfils 98% of profit target in 9 months

BCG Energy JSC, a subsidiary of Vietnamese private conglomerate Bamboo Capital Group, posted a consolidated after-tax profit of VND504 billion ($19.94 million) in the first nine months of 2024, fulfilling 98% of the year's profit target.

Bamboo Capital - Fri, November 1, 2024 | 2:32 pm GMT+7