Vietnam’s most populous urban area Ho Chi Minh City needs around VND4.3 trillion, or US$2.68 billion, to develop the local food processing industry, a focus of the city’s economic plan until 2010, beside mechanics, electronics, and the chemical industry.
Of the sum, the beverage sector alone requires VND3.08 trillion ($192 million) for a number of major projects, including construction of Sai Gon Beer Factory in Cu Chi district with total investment of VND1,000 billion, VND100 billion for expansion of Ben Thanh Beer Factories, and VND500 billion for Vietnam Beer Factory.
The dairy industry is seeking for VND390 billion (nearly $24.4 million) to increase output, modernize production facilities and diversify products. The industry expects to raise total milk output to 65 million liters of fresh milk a year by 2010
Meanwhile, the city’s vegetable oil manufacturers, supplying nearly 50 per cent of the country's annual oil output, are set to raise combined production capacity from current 114,000 tons a year to 400,000 tons by 2010.
The city will pump VND290 billion ($18 million) into expanding the Golden Hope-Nha Be Cooking Oil factory, increasing its annual output to 120,000 tons a year, from the current 48,000 a year.
HCM City is now home to 5,000 food processing companies, including 28 state-owned and 39 foreign-invested ones. Last year, the processing industry recorded 7.5 per cent growth, with its production value accounting for 17 per cent of the city’s entire industrial output.
Some of its products have a firm foothold in the domestic market, like Sai Gon beer, Vinamilk milk, Tribeco beverage, Vissan food, Tuong An vegetable and Kinh Do confectionery. (Vietnam & World Economy)
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