The above information was just shared by Ms. Mai Kieu Lien, General Director of Vinamilk (code: VNM) at the 2025 Annual General Meeting of Shareholders (AGM), held online.

In the context of businesses being concerned about the reciprocal tax rate proposed by the US, Vinamilk said that the business is less affected by the US imposing taxes on Vietnamese goods.

Specifically, in response to concerns about competitiveness when US milk import tax could be reduced to 0%, Ms. Mai Kieu Lien commented that the impact on Vinamilk's business activities would be insignificant.

She analyzed that currently, imported liquid milk is subject to a tax of 2%-15%, if this tax is reduced to 0%, the market may have some fluctuations. However, imported liquid milk still has difficulty competing with domestic products due to freshness, logistics advantages and suitable prices.

Ms. Mai Kieu Lien, General Director of Vinamilk. Photo: VNM

For powdered milk, the current import tax is 10%. If tax is exempted, the change is relative, however the price difference between product segments is still very large.

Therefore, even in the high-end segment, imported milk from the US has difficulty competing in price with existing products on the market.

“The powdered milk market has been established for a long time, so the impact of adjusting import taxes will not be too great. Meanwhile, purchasing power has not shown clear signs of recovery amid economic fluctuations, so imported products from the US, whether high-end or super high-end, will find it difficult to change the overall market situation,” said Ms. Lien.

Vinamilk's General Director emphasized that for Vinamilk, the domestic market is still the main market. As for exports, although the growth rate is good, the export revenue accounts for a small proportion, so it has not had a big impact on the overall operation.

Vinamilk's consolidated revenue and pre-tax profit plan this year. Source: VNM

Regarding the current scale of Vinamilk's herd, Vinamilk's CEO informed that the company is managing 130,000 dairy cows. Vinamilk and Moc Chau Milk's farms alone have about 40,000 cows.

“The output of more than 1.1 million liters of fresh milk per day, both from the farm and purchased, meets 100% of Vinamilk's demand for fresh milk, yogurt, and drinking yogurt products,” said Ms. Lien.

However, Vinamilk's orientation and strategic trend is to increase farms and gradually reduce purchases from farmers.

“The urbanization trend is causing farmers to gradually reduce dairy farming. To compensate for farmers’ output, Vinamilk will increase productivity on farms. Because in Vietnam, finding land to build new farms is not easy,” she said.

At the meeting, shareholders also approved the plan for total consolidated revenue of VND 64,505 billion and after-tax profit of VND 9,680 billion, up 4.3% and 2.4% respectively compared to 2024. If completed, this will be a record high revenue for the enterprise.

In addition, the minimum cash dividend payment in 2025 equal to 50% of the consolidated profit after tax plan for 2025 was also approved by shareholders. Accordingly, the Board of Directors will decide on the dividend level and the interim dividend payment time for each period in accordance with the plan.

Source: https://vietnamnet.vn/ceo-vinamilk-mai-kieu-lien-noi-ve-kich-ban-thue-nhap-khau-sua-my-con-0-2395384.html