6 Apr 2023 13:19

Russia's Miratorg might move some production to Vietnam

MOSCOW. April 6 (Interfax) - Miratorg, one of Russia's largest meat producers, is considering moving production of some of its products to Vietnam, the group said in a press release, citing its president Viktor Linnik.

Miratorg is representing meat products as part of the national exposition under the Made in Russia brand at the Vietnam Expo 2023 that opened in Hanoi on April 5.

"As soon as we feel out interesting positions by types of products that can be made here so as to supply to both the local market and neighboring countries, we will immediately consider the possibility of localizing and moving some production here. They treat Russians well here, there are good competitive advantages and investment conditions," Linnik was quoted as saying in the press release.

He estimated the company's annual shipments of products to the Vietnamese market at about 50,000 tonnes. Shipments dropped to about 30,000 tonnes last year due to problems with international logistics, but the situation has now stabilized and Miratorg reckons shipments to Vietnam could double to 60,000 tonnes.

Miratorg's presence in Vietnam gives it good opportunities to enter the markets of neighboring countries, Linnik said. The group's products are shipped to Vietnam, processed and sent on to Japan, South Korea, Cambodia and Laos under free trade agreements.