The Viet Nam National Tobacco Corporation (Vinataba) plans to produce 36,000 tonnes of confectionery this year in a bid to increase its market share in the domestic market.— Photo vinataba

HA NOI (Biz Hub) — The Viet Nam National Tobacco Corporation (Vinataba) plans to produce 36,000 tonnes of confectionery this year in a bid to increase its market share in the domestic market.

Vinataba General Director Tran Son Chau made the statement at a conference on implementing the corporation's 2014 production and business tasks in Ha Noi yesterday.

At the event, Chau asserted that Vinataba targets more than VND1.2 trillion (US$56.4 million) in profit, up 9 per cent from 2013, and spares no effort to contribute VND8.3 trillion ($390 million) to the national budget this year, a year-on-year increase of 1.9 per cent.

Together with holding its market share steady and shifting towards high-grade products, the business will continue to promote the brand names of its confectionery products and other foodstuff, he added.

Mentioning the confectionery sector's restructuring, Minister of Industry and Trade Vu Huy Hoang required Vinataba to reduce competition between its subsidiaries and avoid the dispersion of resources, with the view to raising the member companies' effectiveness.

The corporation needs to invest in new production equipment and technologies to create quality products with higher added value.

In 2013, the three Vinataba subsidiaries of Huu Nghi, Hai Ha and Hai Ha-Kotobuki saw a growth rate of three 6 and 8 per cent respectively, providing over 32,600 tonnes of confectionery for the domestic market and shipping more than 3,000 tonnes abroad. — VNS