Meiji to form subsidiary in Hanoi to boost baby formula sales

Economy

Japanese food giant Meiji Co. will set up a wholly owned subsidiary in Hanoi on April 1 to ramp up sales in Vietnam of powdered infant formula milk imported from Japan. The company announced Friday a plan to establish Meiji Food Vietnam Co. by upgrading a local representative office, paving the way for full-fledged marketing of baby formula currently being sold through local agents and other channels. Vietnam is seen as a promising market for baby formula. Data from the Southeast Asian country's General Statistics Office show that about 1.5 million babies were born in 2020, roughly 1.7 times m...

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