Vietnam's beer market experienced a double-digit decline in 2023, with mid-single-digit declines continuing this year.
Alexander Koch, Heineken Vietnam's Managing Director, affirmed that the Covid-19 pandemic has significantly affected the company's operations as well as its contribution to the state budget.
Heineken continues to delight consumers by introducing a new taste variant created by Heineken`s master brewers, Heineken Silver.
Heineken Vietnam Brewery recorded a profit margin of 40 per cent, much higher than Sabeco's 17.6 per cent but its market share still lagged behind its rival which is dominating the beer industry.
Heineken Vietnam has been recognized as one of the best companies to work for in Asia by the HR Asia Magazine, one of Asia’s leading publications for HR professionals.
The longer time the State capital divestment takes, the greater the risk of competition for Habeco is, especially when their business results are showing signs of deterioration, gradually being left behind by other competitors such as Sabeco and Heineken in the war of gaining market share.
With a population including a large proportion of young people, the Vietnamese market is potential for brand experience programs such as The World of Heineken in Ho Chi Minh City.
