Vietnam’s Vinamilk, KIDO set up beverages joint venture for Philippines market

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(Tuoitre News)

Vietnamese dairy giant Vinamilk on Friday announced its joint venture with packaged food producer KIDO Group Corporation to produce dairy products and beverages for the Philippines market.

The announcement came following the Ministry of Investment and Trade’s grant of an offshore investment certificate for establishment of the almost equal-footed joint venture in the Philippines to the two enterprises, with an initial capacity of US$6 million.

Vinamilk will own 51 percent of the new firm, which is invested with VND400 billion ($17.38 million) in the first phase, and KIDO will hold the rest.

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