At a ceremony to receive the prestigious Labour Hero award from the State, the Vietnam Dairy Products Company (Vinamilk) announced that export revenue for this fiscal year is expected to top US$83m.

This represents an increase of 59% on last year’s figures, and reflects the increasing demand in the Middle East, Asia and the Commonwealth of Independent States for the cheese, yoghurt, nutritional products, milk powder and sweetened condensed milk made by the company.

Since its establishment in 1990, Vinamilk has witnessed a steady annual growth rate of around 35%. To cope with this growth, it has plans to open two new US$5m dairy plants during the beginning of 2001.

Vinamilk explained that over the course of next year it hopes to promote its products to new markets in Europe, Cambodia and Thailand.