The Ministry of Industry and Trade (MoIT) has recently approved a master plan to develop domestic alcohol, brewery and beverage industry to 2015 and beyond.
Under the plan, the industry is expected to post a growth rate of 12 per cent until next year. The figures for 2011-15 and 2016-25 are set at 13 per cent and 8 per cent, respectively.
The industry will churn out 2.5 billion liters of beer, 80 million liters of liquor and 2 billion liters of beverage next year with an annual export turnover expected at US$70-80 million.
Its output will reach 4 billion-6 billion liters of beer, 188 billion-440 million liters of liquor and 4 billion-11 billion liters of beverage, respectively, between 2015 and 2025.
In order obtain such targets, the alcohol, brewery industry would need about VND74 trillion (US$4.38 billion) from 2008-2025.
Part of the capital estimated for brewery production would be used to upgrade and expand existing plants. The rest would go to the construction of new plants, each with a capacity of more than 100 million liters per year.
The master plan also requires projects with annual output of more than 50 million and 200 million liters to be approved by Industry and Trade minister and the Prime Minister, respectively.
The move is aimed to avoid rampant investment that can cause waste and damage to the whole industry, said the Minister of Industry and Trade Vu Huy Hoang.
To have enough capital, the industry will call on all economic sectors to pour money into the industry. The minister estimated most capital would come from domestic and foreign bank loans and the issue of shares and corporate bonds.
Under the master plan, the industry will focus on building a number of national trademarks to be able to compete against products from foreign competitors.
The industry will also boost co-operation with famous foreign brands to be able to churn out high-class products to meet domestic demand and to gradually boost exports. (VNA)
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