Inside Orion's factory in Bắc Ninh Province. Việt Nam is emerging as a potential market that can serve as an alternative to China. — Photo bacninh.gov.vn
The sales revenue of the Republic of Korea’s Orion confectionary maker in Việt Nam has surpassed 200 billion won (US$150 million) for the first time, further solidifying its highly positive growth trend in the Vietnamese market.
According to the data announced by the company on Friday, its total revenue hit 224.1 billion won in the first half, up 14.5 per cent annually.
If this growth trend continues, this year’s figure is projected to exceed 500 billion won for the first time, amounting to around 540 billion won. The 2022 revenue was 473 billion won.
With a population of nearly 100 million people, Việt Nam is emerging as a potential market that can serve as an alternative to China, with its estimated dairy market size of around seven trillion won. For Orion, Việt Nam plays a pivotal role as a bridge to tap into the Southeast Asian market and expand its reach in the region. — VNS