Today marks a significant milestone as we proudly conclude the half year business review, a testament to the fact that success is not a mere coincidence, but a result of relentless effort and unwavering team spirit. With excitement and pride, we celebrate the achievements that have come from our collective dedication and determination.
The mid year meeting was graced by the presence of our esteemed CEO, Mr. Tran Van Binh, alongside the esteemed leadership team of Sakan Vietnam Investment and Development Joint Stock Company, as well as our esteemed business colleagues from the Northern region. This gathering exemplified the true strength of our team, where each member wholeheartedly contributed and dedicated their unwavering spirit. It is through our united efforts that we have triumphed over challenges, persevered through countless hours of hard work, and witnessed outstanding results beyond our expectations.
Reflection and Appreciation
During this momentous meeting, we collectively reflected upon the impressive figures and remarkable achievements we have accomplished in the first six months of 2023. Today, we take this opportunity to congratulate and express our deepest appreciation for the dedication and contributions of every individual within our team. It is through their unwavering commitment and tireless efforts that we have achieved such remarkable milestones.
As we embark on the remaining six months of the year, let us direct our focus towards seizing opportunities and fostering innovative solutions to overcome any challenges that may come our way. Let us embrace difficulties as opportunities for personal and professional growth, showcasing our inherent capabilities and potential. Together, we shall strive to accomplish the goals we have set, driven by the anticipation of team-building trips and well-deserved rewards that await us on this exciting journey.
In conclusion, we extend our heartfelt gratitude to each and every member of our team, as well as our esteemed leaders and business partners, for their unwavering support and contribution to our collective success. Let us move forward with renewed determination, united in our pursuit of excellence and further accomplishments.
Based on the information gathered from various sources, the outlook for the livestock industry in Vietnam over the next six months appears to be positive. The Vietnamese government has set a target to achieve 4 to 5 percent industry growth per year until 2025, and 3 to 4 percent growth from 2026 onwards1.
The Vietnam animal feed market, a crucial component of the livestock industry, is expected to grow at a compound annual growth rate of 3.68%2. This growth is supported by higher pork prices and growing meat demand in 20233.
Furthermore, domestic animal feed prices are expected to decrease gradually in 20234, which could support pig farming and processing. The increasing demand from fast-food restaurants is also driving the growth of the Vietnam meat market5.
However, it’s important to note that the industry faced many challenges in 2022, with low efficiency for farmers6. Therefore, while the overall growth forecast is positive, individual farmers may face varying circumstances.
Please note that these are forecasts and actual growth may vary based on a variety of factors including market conditions, government policies, and global events.
SOURCES:Vietnam’s Live Stock Industry: Challenges and Opportunities ↩
Vietnam Animal Feed Market – Forecasts from 2023 to 2028 – GII Research ↩
Bright outlook for livestock farming industry – VietNam News ↩
Livestock industry hopes difficulties will reduce in 2023 – VietNam News ↩
Vietnam Meat Market Analysis Report 2023-2027: Increasing Demand from Fast-Food Restaurants Fueling Demand and Future Growth – PR Newswire ↩
Vietnam’s livestock industry in 2023: Chances and Challenges – VietnamCredit ↩