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Mead Johnson sets up Vietnam unit
Mead Johnson Nutritionals, which has operated an office in Vietnam for ten years, has established a 100 percent foreign-owned company here, it said in a press release.
The company, BMS Vietnam Company Ltd. with a capital of US$100,000, will import dairy products from its parent company based in the US.
The Planning and Investment Department of Ho Chi Minh City granted the license for BMS Vietnam in June.
Mark Hely, general manager of Mead Johnson Nutritionals, said in the press release that Vietnam was a promising market despite recent economic challenges.
Local staff was the key for success as a multinational corporation, he said.
Vietnam imported about $325 million worth of dairy products in the first seven months of this year, a 38.4 percent increase year-on-year.
Imports supply about 80 percent of local demand.
Thanhnien
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