Swiss company to invest over $100 mln in southern Vietnam dairy plant

Swiss Asia Partner SA, an international financial advisory and investment group headquartered in Lausanne, Switzerland, will pour more than $100 million into a dairy processing plant in the Prodezi Industrial Park in Vietnam’s southern province of Tay Ninh.

The Tay Ninh Economic Zone Authority granted an investment registration certificate for the project during an investment promotion conference held in Belgium on Friday. The event was attended by provincial leaders, representatives of Vietnam’s diplomatic missions, and members of the European business community.

Details on the project's land area, production capacity, construction schedule, and operational timeline have yet to be disclosed, according to Tay Ninh Newspaper and Radio-Television.

The issuance of the investment registration certificate marks a key legal milestone for the project following site surveys, negotiations, and the signing of a land reservation agreement between Swiss Asia Partner SA and the developer of Prodezi Industrial Park.

Earlier, on April 9, Swiss Asia Partner SA and Prodezi Long An JSC signed a land reservation agreement to prepare for the plant's development. At the time, the project was still undergoing investment promotion activities and regulatory procedures.

According to previously announced plans, the Be Milk plant will be developed in two phases and will employ European-standard production technologies and quality management systems.

Swiss Asia Partner SA, which operates across Europe, Southeast Asia and the Middle East, serves as both investor and market developer for the project.

The investment is being carried out through a cooperation and brand licensing agreement with France’s Sodiaal Group, owner of the Candia dairy brand.

Sodiaal is one of Europe's largest dairy groups, managing an integrated value chain that spans raw milk production, industrial processing, brand development, and international distribution.

Candia, one of Sodiaal’s flagship brands, is sold in more than 60 countries worldwide. The French dairy group also owns the yogurt brand Yoplait.

In addition to Sodiaal, several international partners are expected to participate in the Be Milk project, including France’s IPEM Group, Sweden’s Tetra Pak, and Japan’s Takenaka Corporation. These companies will support various aspects of the project, including plant design, production technology, processing equipment, packaging solutions, and construction.

Philippe Phan Van Ho, CEO of Swiss Asia Partner SA, previously said the investment location was selected not only for its market potential but also for its ability to meet the project's long-term operational requirements.

According to Ho, Tay Ninh offers substantial growth opportunities in food processing, while Prodezi Industrial Park provides the infrastructure needed to support efficient, stable and sustainable operations.

New FDI project for Prodezi Industrial Park

Prodezi Industrial Park is being developed as an eco-industrial park with a strong focus on environmental, social and governance (ESG) standards.

The Be Milk project adds a new industry to Tay Ninh’s foreign direct investment (FDI) portfolio, which already includes processing and manufacturing, textiles and garments, mechanical engineering, electronics, and energy.

At the investment promotion conference in Belgium, Tay Ninh officials noted that the province is home to more than 2,000 active investment projects with total registered capital of approximately $26 billion.

The province is prioritizing investment from Europe in sectors such as green industry, the circular economy, clean energy, environmental technology, biotechnology, and advanced agriculture.

Vietnam’s Ambassador to Belgium Nguyen Van Thao said Tay Ninh is well positioned to attract a new wave of European investment thanks to its strategic location.

He added that as the EU-Vietnam Free Trade Agreement (EVFTA) continues to deliver benefits, Belgian companies are showing growing interest in expanding cooperation with Vietnam, particularly in logistics, green industry, high-tech agriculture, and sustainable development.

Provincial authorities described the investment registration certificate for the Be Milk project as a tangible outcome of their investment promotion efforts in Europe. The project also reflects increasing international investor interest in Vietnam’s food processing sector and eco-industrial park infrastructure.