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| Viet Nam expects to earn US$900 million from exporting beverage products by 2035, according to the industry's planning. — Photo viettimes.vn |
HA NOI (Biz Hub) — Viet Nam expects to earn US$900 million from exporting beverage products by 2035, according to the industry's planning.
Under the new plan to 2025, with a vision to 2035, the Ministry of Industry and Trade has targeted the development of a modern industry which can compete in global integration.
Accordingly, focus would be placed on applying technologies to improve product quality, diversify products and build brand names.
The industry wants to reduce the percentage of alcohol and beer products, while increasing non-alcoholic beverage products.
Production of non-alcoholic beverages will be more than doubled to 15.2 billion litres during the 2020-35 period.
Beer plants with a capacity of below 50 million litres per year will not be encouraged. Private investments in large-scale non-alcoholic beverage production, using modern technology, and adhering to environment safety and food hygiene would be encouraged. Beer production output will reach 4.1 billion litres by 2020, then 4.6 billion litres by 2025 and 5.5 billion litres by 2035, according to the planning. Liquor output will remain the same, at 350 million litres.
The export revenue is also expected to double from $450 million to $900 million during the period.
The industry will post a growth rate of between 4 to 5.8 per cent by 2035, according to the planning. The ministry estimated that the industry would need a total of VND27.3 trillion ($1.2 billion) investments during the next four years. — VNS