VinaSoy to keep confirming the 1st position in Vietnam

In recent years, Vietnamese consumers have been familiar with concepts of "healthy food", "healthy nutrition", and preferred healthy products with natural origins and providing the essential nutrients for the body. Soymilk is one product of the "healthy food", "healthy nutrition". Vietnam Soymilk Company (VinaSoy) has led the soymilk production in Vietnam. To keep confirming the 1^st position in Vietnam, VinaSoy has started the construction of the third plant in Binh Duong.

Confirming the position

VinaSoy third plant is located at Vietnam – Singapore IIA Industrial Park (VSIP IIA). With this plant, VinaSoy has become the first company in Vietnam to own 2/3 factories invested with the most modern technology, and is in the Top 5 the world's largest soymilk manufacturers. It is expected that after the 1^st stage of the plant in Binh Duong, total capacity of VinaSoy will reach 390 million liters/year, meeting fully, fast, and timely the needs for good nutrition of Vietnamese consumers.

The groundbreaking ceremony of Binh Duong VinaSoy factory

VinaSoy factory in Binh Duong has a total investment of VND900 billion, will be equipped with the world’s most modern technology and production line with a designed capacity of 180 million liters/year, of which Phase 1 with a capacity of 90 million liters/year is expected to be finished and will officially go into operation in Nov 2016. It means that the total capacity of VinaSoy will reach 390 million liters/year by the end of 2016, and Vietnamese consumers will receive nearly 2 billion products of healthy nutrition each year.

VinaSoy CEO Ngo Van Tu said: "The plant in Binh Duong will be able shorten transportation time and distance of products to consumers in southern provinces. We are trying our best to meet the needs for healthy nutrition of consumers in this area. This is a dynamic market and has great potential for development. "

With the third plant in Binh Duong, VinaSoy are aiming to achieve the sales target of 10,000 billion in 2020; confirm the leading position of VinaSoy; and increase the supply, stimulate the trend of using good nutrition, contribute to improving public health. "As the industry leader, VinaSoy plays the role of a  "strategic link” to increase supply to consumers, and boost the demand for domestic soybean ingredients. Thus, once the Economic Partnership Agreement Trans-Pacific (TPP) took effect in 2018, Vietnamese agricultural products, soybeans in particular, will have a firm position, indirectly confirm the position of Vietnamese agriculture within the TPP in general”, said Mr. Tu.

Rising up from hardship

According to The Nielsen Vietnam’s market research in Dec 2015, VinaSoy is currently leading the Vietnamese soymilk market with 84.2% of national market shares, annual growth rate always reaches a two-digit number. In 2015, VinaSoy continued to reap success with new development milestones, achieved a revenue of VND3,800 billion, growth rate of 20% year-on-year. In particular, VinaSoy became 1 out of 4 most favorite Vietnamese brands in Asia. In parallel with the production, sales and brand building, VinaSoy Research and Application Center has been invested strongly to apply scientific - technological advances into breeding, improving the cultivation process in order to develop a soybean producing zone with high productivity, help to heighten farmer’s incomes and create stable soy-growing region.

To achieve these results, for nearly 20 years, VinaSoy went through many difficulties, have focused on researching, developing specialized soya products, and gradually conquered domestic and foreign consumers. The story began hen Truong Xuan Milk Factory under Quang Ngai Sugar Company was established in 1997. With the initial investment of VND60 billion, the plant was equipped with a modern chain of Tetra Pak Corporation (Sweden) with capacity of 10 million liters/year and 100 employees. Staple products of the company at that time were pasteurized milk, yoghurt and ice cream. Fami soymilk was just one of diversified products of the company.

Because Truong Xuan was still young, the company faced many challenges. It was an unequal struggle with many well-known brands and imported brands. It was confused about new manufacturing technologies. It was the spreading of products, thus affecting negatively the product quality. As a indispensable rule, Truong Xuan was not accepted by the market and encountered the "premature death”. Total annual output reached only 1.1 million liters/year with a loss of up to VND30 billion, accounting for 50% of the total initial investment. Therefore, in 2002, Truong Xuan leaders focused on market research and worked out a new business strategy. In 2003, Truong Xuan Milk Factory became Vietnam's first enterprise specializing in manufacturing soymilk and the flagship product to penetrate the market was Fami soya milk.

Besides, leaders of Truong Xuan soon realized the importance of brand building on the way to becoming "a leader". In 2005, VinaSoy brand name characterized by  "nature, innovation, dedication" was born, and Truong Xuan Milk Factory was officially changed into Vietnam Soymilk Company. This was the first milestone on the road to become "a leader" in Vietnam soymilk industry.

 VinaSoy leadership has continuously acquired, explored from domestic to foreign new technologies, like: production techniques, management systems, building distribution systems, designing unique marketing campaign. It were continuous efforts and dare to change that helped VinaSoy in becoming an organization with tight management, strong techniques, market sensitiveness. In 2008, an event marking a new progress of VinaSoy was filling lines of TBA 22 and TBA 23 with a capacity of 20,000-24,000 boxes / hour (one of the maximum power series of Tetra Pak), making a breakthrough in capacity and product quality. The new production line replaced five low-capacity TBA machines has fulfilled its historic mission during the ups and downs of the plant, and are evidences of a new development stage of VinaSoy.

In the 2010-2012 period, VinaSoy made a breakthrough in all aspects of building, improving their brand portfolio and brand positioning. In 2012, VinaSoy product of pure soymilk was born, paving the way for an innovative product line of soymilk industry. Also in the same year, the second plant of VinaSoy in Bac Ninh with a capacity of 180 million liters/year was commenced. The plant was invested with synchronized, self-contained and totally automated systems from putting in raw materials to packaging finished products of Tetra Pak Group - the world's leading corporation in providing solutions to processing technology and food packaging.

VinaSoy Bac Ninh factory and the world’s most modern plant that has just started to construct in Binh Duong will help to consolidate the No.1 position of VinaSoy in Vietnam soymilk industry, contributing to stimulate the healthy nutrition trend, improve the health of Vietnam consumers.

Reported by Phuong Le – Translated by Ngoc Huynh