Vietnamese, Japanese companies cooperate to farm beef cattle
VGP - Viet Nam Dairy Products Joint Stock Company (Vinamilk) and Japan's Sojitz Corporation on Wednesday started construction on a massive beef processing complex in Tam Dao, the northern province of Vinh Phuc.
Deputy Prime Minister Tran Luu Quang attended the groundbreaking ceremony of the project, which is part of activities to celebrate the 50th anniversary of diplomatic ties between Viet Nam and Japan.
Vinabeef Tam Dao covers an area of 75.6 hectares and consists of two zones: one for cattle farming that can accommodate 10,000 cows and a chilled meat processing plant with an annual capacity of 10,000 tons of products.
With a total investment of VND3 trillion (over US$126 million), this is the first cooperation project between Vietnamese and Japanese leading companies in high-tech agriculture, under an agreement worth US$500 million signed in late 2021.
The project is scheduled to come into operation in 2024, providing chilled beef that is processed in a closed and highly automated line, ensuring quality and nutrition.
Vinamilk, Viet Nam's largest dairy firm, has a brand value of US$2.8 billion in 2022, up 18 percent over 2021, and ranks sixth among the top 10 most valuable milk brands in the world, according to the world's leading brand valuation company Brand Finance.
Vinamilk is also placed 24th among the top 100 most valuable and strongest food, dairy and non-alcoholic beverage brands.
It is currently one of the 40 largest dairy companies in the world in terms of revenue with a system of 17 factories and 15 domestic and foreign farms, its website says. Its products are exported to 57 countries, including the U.S., Japan and the Republic of Korea./.