Founded in 1976, the Vietnam Dairy Products Joint Stock Company, better known as Vinamilk, is the largest dairy company in Vietnam. Over the years, Vinamilk has built a solid reputation for delivering high-quality and nutritious dairy products while demonstrating ethical business practices and a steadfast commitment to sustainability. With over 250 product SKUs spanning fresh milk, baby food, nutritional products, plant-based beverages, and more, Vinamilk distributes its products to 56 countries and regions, making a significant impact in the global dairy industry.
Growth and Recognition
Vinamilk went public on the Ho Chi Minh Stock Exchange in 2006 and has since grown into one of Vietnam’s most valuable brands. It is the 15th largest company in Vietnam, with a market capitalization of approximately $8.2 billion. Among its most notable achievements, Vinamilk was the first fast-moving consumer goods company in Vietnam to be listed on Forbes’ 2000 Global World’s Largest Public Companies in 2017 and has also been recognized on Forbes’ Best Over A Billion Asia list. In 2021, Vinamilk was ranked 36th in Plimsoll’s Top 50 Global Dairy Producers by sales revenue, making it the only Southeast Asian company on the list. Additionally, it has earned a place among the world’s top 10 most valuable dairy brands, with a brand value of $2.4 billion according to the 2021 Brand Finance report.
Commitment to Sustainability
Vinamilk’s sustainability framework is built on three core pillars: nature, people, and products. The company aligns its operations with global environmental, social, and governance (ESG) standards, incorporating sustainable business practices across all areas. This commitment is defined by the CEO and Board of Directors, managed by the Sustainability Development Council, and implemented company-wide. Through its participation in the Sustainable Development Framework for the Global Dairy Industry (DSF), Vinamilk has identified four key materiality areas: environment, society, economy, and industry standards. These are further broken down into six priorities: product safety and quality, working conditions, local economic development, reduction of greenhouse gas emissions, waste management, and animal welfare.
Environmental Responsibility
Vinamilk integrates green energy solutions across its operations. Nine of its plants are powered by a green energy steam system, while its factories and farms utilize solar energy. The company’s ISO 50001-accredited energy management system has contributed to a significant reduction in carbon dioxide emissions, exceeding 84 tons annually. Innovations have been introduced to minimize plastic waste, optimize resource usage, and implement circular economy solutions.
In its efforts to preserve water resources, 100% of wastewater from production activities undergoes treatment to meet environmental standards before being discharged. Furthermore, Vinamilk’s farms are 100% free from chemical fertilizers, and its livestock management practices emphasize humane treatment, ensuring good cow welfare and healthy farming practices. These initiatives not only support environmental conservation but also contribute to sustainable economic growth.
Employee Well-Being and Workplace Culture
With a workforce of 7,933 employees, Vinamilk prioritizes career development and job satisfaction. In 2021, the company achieved an employee satisfaction rate of 88.4%, with 100% of its staff receiving periodic performance evaluations to guide their professional growth. Training programs are designed to equip employees with relevant skills, fostering a culture of continuous learning. Vinamilk has been recognized as one of the Most Attractive Employers in the FMCG Industry by Career Builder and ranked second on the Most Attractive Employers list by Anphabe, Vietnam’s professional networking community.
Corporate Social Responsibility and Community Support
Vinamilk operates with a strong sense of corporate responsibility, placing community welfare above private interests. This dedication was evident during the COVID-19 pandemic, where Vinamilk actively contributed to food security and public health. The company supported frontline workers with its products and donated vaccines and nutritional items to children and vulnerable communities. Since the beginning of the pandemic, Vinamilk has contributed over 100 billion VND to relief efforts.
Through its longstanding corporate social responsibility programs, Vinamilk has spearheaded initiatives that have made a lasting impact on society. The Stand Tall Vietnam Milk Fund has provided over 37 million glasses of milk to 460,000 disadvantaged children, improving their nutritional intake. The One Million Trees for Vietnam Fund successfully planted 1.21 million trees across 20 provinces and cities over a nine-year period, transforming local environmental perceptions and supporting ethnic minority communities reliant on forestry.
The School Milk Program, now in its 15th year, continues to enhance the nourishment of schoolchildren by providing them with high-quality milk at an affordable cost. For underprivileged families, Vinamilk and local authorities fully cover the cost of milk, ensuring that children receive proper nutrition while encouraging school attendance. To date, the program has benefited over 3.3 million pre- and primary school students and trained more than 10,000 local authority personnel, medical staff, and teachers in nutrition education. The company’s contributions to the program were valued at approximately $13 million in 2020.
Furthering its commitment to sustainable development, Vinamilk is exploring collaborations with UNICEF and the World Wildlife Fund (WWF) to enhance environmental education for children in remote areas.
Ethical Governance and Industry Leadership
Vinamilk’s corporate governance model is built on transparency and integrity, ensuring ethical business operations at every level. Its dedication to sustainability and ethical integrity has earned it a place among the Top Sustainability Advocates in Asia by the ACES Awards. The company’s responsible business practices and community-driven approach set a benchmark in the industry, demonstrating that a strong bottom line and ethical decision-making can coexist.
Despite the challenges posed by an ever-changing global landscape, Vinamilk remains steadfast in its mission to deliver valuable nutrition to communities with respect, love, and responsibility. By prioritizing sustainability, fostering employee growth, and giving back to society, Vinamilk exemplifies a business model that thrives on mutual prosperity between the company and the communities it serves.
As Shanggari Balakrishnan, CEO of MORS Group, aptly puts it, Despite a year full of turbulence, Vinamilk was never deterred from its dedication to bettering the lives of the local community. The leading dairy company reinforces community focus as a sound business decision and not just a moral obligation, and that in itself serves as a beacon of inspiration.
