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Taiwan Beer to open brewery in Vietnam
State-owned Gold Medal Taiwan Beer is rumoured to be opening a brewery in Vietnam early next year, according to the Taiwanese media.
Taiwan’s Tobacco & Liquor Corp has allegedly agreed to partner with Sapporo Vietnam Co, Ltd – a subsidiary of Sapporo International Inc – which will see its beer, Gold Medal produced in Vietnam in 2016.
As reported by Focus Taiwan, Sapporo Vietnam will brew Gold Medal Taiwan Beer in the southern province of Long An, near Ho Chi Minh City and the beer is set to hit the shelves by March of next year.
The two companies are due to sign a contract today at Taiwan Trade Center’s representative office in Ho Chi Minh City and this collaboration is thought to be the first international venture in alcohol by Taiwan Tobacco & Liquor Corp.
It also hopes to expand sales to other Association of Southeast Asian Nations (ASEAN) off the back of this new deal.
The Asia Pacific beer market is one of the fastest developing markets in the world and is set to grow at a compound annual growth rate (CAGR) of 5% from 2014 to 2020. It was valued at US$155.93 bn in 2013 and forecasts also predict it will grow to US$220bn by 2020.