The Vietnam Milk Company (Vinamilk) generated revenue of VND469.3bn (US$30.5m) in 2002, 13% ahead of its target and 19% up compared to the previous year.

The company exported $166m worth of milk products during the year, compared to $137.2m in 2001. Vinamilk mainly exports to America, Cambodia, China, Laos and the Middle East.

Vinamilk is targeting a 17.29% rise in revenues in 2003 and plans to invest $25.7m in expanding production, reported the Vietnam Economic News.