Group Assignment – IBS301m

TOPIC: Choosing a Company / Group that is found in Vietnam. Proposing an

international business strategy for the next 5 years of this Company / Group with
the expectation of sustainable development in the international market.

Course: IBS301m – GROUP 4

Name of group member Code

1. Le Dai Nghia CS130374

2. Ly Bao Ngoc CS130269

3. Nguyen Tran Bao Chau CS130352

4. Nguyen Thi Kieu My CS140251

5. Pham Ngoc Anh Doan CS130227

6. Huynh Nhut Thai CS130266

7. Huynh A Khoa CS130171

8. Truong Duc Toan CS130218

Name of chosen company VINAMILK

Market CAMBODIA

Can Tho, Mar 24/2021

Table of Contents

Abstract:........................................................................................................................ 3

I. Introduction:..............................................................................................................3

1. Explain why I choose this topic:............................................................................3

2. State the objectives of my paper:...........................................................................4

II. Analysis:................................................................................................................... 5

1. Use the theoretical framework and collected data to structure my analysis:..........5

2. My findings, critical points, issues, problems........................................................5

III. Conclusion:...........................................................................................................18

1. Summary of the key points:.................................................................................18

2. Recommendations:..............................................................................................19

References:.................................................................................................................. 20

Table of Figures:

Figure 1: Evening panorama of the city of Phnom Penh...........................................................8

Figure 2: Angkor Wat Cambodia from the sky..........................................................................9

Figure 3: The girls in Cambodian national clothes..................................................................10

Figure 4: The Cambodian farmer uses plows instead of rudimentary tools............................11

Figure 5: VNPT shares experience in implementing IDC and smart technology solutions with
the Ministry of Post and Telematics of Cambodia...................................................................11
Abstract:

Founded in 1976, Vinamilk is growing and becoming a leading enterprise in the dairy
processing industry, currently occupying 75% of the market share of milk in Vietnam.

With the diversification of products, Vinamilk is not only favored by domestic

consumers but also encroaches on foreign markets. Typical markets including USA,
Canada, France, Russia, Germany, Middle East, Asia, …

Product development is an advantage, but it is also a grudge for Vinamilk because the
marketing strategy is quite outdated and Vinamilk has gradually found a way to
overcome it. This article aims to confirm Vinamilk's position in the international
market and the strategies used by Vinamilk to penetrate international markets.
Accordingly, the market overview, specifically Cambodia and the way of analyzing
and collecting data about the company as well as the market, will be clarified. In
addition, external factors in the Combodia market also made it very difficult for
Vinamilk for the first time to penetrate until it successfully achieved 51% of the
current market share. But factors contributing to Vinamilk's success include
technology, economic and political factors.

Despite gaining many successes in the Cambodia market, Vinamilk is constantly

devising strategies as well as plans for development in the coming years, and
increasingly improving itself to continue conquering the international market. In
addition to the theoretical analysis and arguments from the available information, the
group also summarized and proposed important factors that contribute to Vinamilk's
success in foreign markets, as well as comment on steps and strategies in the coming
time.

I. Introduction:

1. Explain why I choose this topic:

Overview the domestic market: Currently, the increasing trend of dairy consumption
has helped the dairy industry thrive in recent years. According to the General Statistics
Office, the average growth rate of the dairy market from 2000 to 2009 reached more
than 9% / year, the average milk consumption per capita increased by 7.85% / year.
Grasping the demand, Vinamilk has constantly diversified its products and expanded
dairy farms nationwide. Therefore, although the competitiveness in the current dairy
market is quite high, Vinamilk still accounts for 35% of the market share of
Vietnamese milk.

Vinamilk in Campuchia market: In 2014, Vinamilk invested $10.21 million in

Angkormilk - Angkor Dairy Products' dairy company in Cambodia and owned a 51%
stake in this company, and appointed Angkormilk as the official distributor of these
products. of Vinamilk in Cambodia market. In 2017, the dairy group from Vietnam
continued to spend $ 10.78 million to buy back the remaining 49% stake from its
Cambodian partner, officially owning the entire company.

In addition, Vinamilk also owns one of the second largest dairy processing factories in
Cambodia and Angkor Milk in Phnom Penh special economic zone. It is known that
Angkormilk's revenue still achieved a positive growth, at over 20% over the same
period in 2019 thanks to increased demand in this market, contributing significantly to
Vinamilk's total revenue. Angkor Milk is one of many efforts of Vinamilk to carry out
the mission of bringing Vietnamese dairy brands to the world.

In the first time when entering the market, Vinamilk focused on product
diversification and quality improvement. Besides, marketing to optimize products in
foreign markets has always been a weakness of Vinamilk. Therefore, in order to sell
its products in foreign markets, Vinamilk has focused on developing marketing
strategies and export strategies in order to most effectively promote products in the
eyes of overseas consumers.

2. State the objectives of my paper:

Vinamilk is the largest dairy company in Vietnam. Based on the UNDP 2007 Top 200
largest firms in Vietnam report, it was also the 15th largest company in Vietnam and
formerly the most valuable public company listed in Vietnam. The principal activities
of the Vinamilk are to produce and distribute condensed milk, powdered milk, fresh
milk, soya milk, yogurts, ice-cream, cheese, fruit juice, coffee and other products
derived from milk. Vinamilk products such as powdered milk and condensed milk are
also exported to the Middle East, Cambodia, the Philippines and Australia. Exports
accounted for $180m in 2012. Vinamilk's main competitors are Dutch Lady Vietnam
(a division of Friesland Foods), Nestlé Vietnam, Abbott, Mead Johnson, Friso and
Nutifood. In September 2016, Vinamilk signed a strategic cooperation agreement with
Chr. Hansen to develop probiotics.

II. Analysis:

1. Use the theoretical framework and collected data to structure my analysis:

- Theoretical Framework: We rely on our textbook: “International Business

Strategy’’.

- Using PEST model.

- Using Porter 5 Forces model.

- We relied on this model to collect and analyze information:

2. My findings, critical points, issues, problems.

 Introduction about company – Vinamilk and environment:

Vinamilk is the abbreviation of Vietnam Dairy Products Joint Stock Company

(Vietnam Dairy Products Joint Stock Company - Vinamilk - a manufacturing and
trading company.

sales of milk and dairy products as well as related equipment and machines in
Vietnam. According to the United Nations Development Program, this was the 15th
largest company in Vietnam in 2007.

Cambodia is one of the new markets in Vinamilk's export market expansion strategy.
On that basis, on January 6, 2014, Vinamilk has contributed capital to the
establishment of a subsidiary in Cambodia, in which the Company contributes 51%,
with a total charter capital of 23,000,000 USD, to create a base. and a solid premise
for the next steps to expand the export market share to this new potential market.

Exports in 2013 accounted for 14% of total revenue. During the year, the Company
exploited new markets accounting for 30%, maintaining old customers accounting for
70%. The company regularly updated customer information, surveys, and collects
price information and market information to enhance export market expansion.
Therefore, in recent years, in addition to maintaining traditional customers, Vinamilk
has also attracted new customers, especially the potential market of neighboring
Cambodia.

 PEST about Cambodia:

Cambodia is one of the new markets in Vinamilk's export market expansion strategy.
On that basis, on January 6, 2014, Vinamilk has contributed capital to the
establishment of a subsidiary in Cambodia, in which the Company contributes 51%,
with a total charter capital of 23,000,000 USD, to create a base. and a solid premise
for the next steps to expand the export market share to this new potential market.

Exports in 2013 accounted for 14% of total revenue. During the year, the Company
exploited new markets accounting for 30%, maintaining old customers accounting for
70%. The company regularly updates customer information, surveys, and collects
price information and market information to enhance export market expansion.
Therefore, in recent years, in addition to maintaining traditional customers, Vinamilk
has also attracted new customers, especially the potential market of neighboring
Cambodia.

Political Factor:

The political and legal environment creates a different framework in the business
environment and conditions in each country. Expanding overseas investment is a
major policy of the Government in the integration period and it takes many years to
get the initial steps, Vietnamese enterprises will enjoy many benefits when integrating
into the market.
Research the political environment is an indispensable thing for businesses doing
business in foreign markets and that is a country with political and macroeconomic
stability; the government is in favor of business; encouraging investment competition;
investment guarantee; abundant land and labor; has integrated into the international
market and has a strategic position.

In order to achieve great achievements and a special position with prominent brands
of domestic and international Vianamilk in the international market, leaders and staff
of the company constantly foster political factors as well as knowledge to
continuously create value over the past 35 years.

Many generations have matured with the famous vinamilk brand domestically and
abroad and rounding up the export of an economic unit to the state, becoming a bright
spot for WTO integration.

The impact of the political environment on economic development has two directions.

There are conditions but also constraints by state policies because no matter how
much business develops, in a different country, there will be other political, cultural
and social influences. trade relations, consumers.

And the success of an international business affects whether an enterprise understands

the policies and laws of the host country or not.

When doing business in an administrative unit, businesses will be required to comply

with the legal regime in that area.

Stable political institutions will create good conditions for business activities and vice
versa, if there is a conflict, it will affect bad business activities in that territory.

Economic Factor:

Overview of the economic environment of Cambodia. In recent years, Cambodia's

economy has changed in a positive direction. However, the economy was suddenly
affected by shocking political events as former opposition leader Sam Rainsy urged
the people of the country to "follow the example" of protesters who opposed the
military regime in Myanmar. March 11 and the sudden emergence of the Covid
epidemic since 2020.
 Figure 1: Evening panorama of the city of Phnom Penh
Cambodia is an agricultural country; the family economic activities rely on most of
the people to live on. Nearly 58% of the population is engaged in agriculture,
accounting for nearly 40% of the country's GDP, and depends heavily on natural
conditions and resources for development. Manufacturing is diversified but not very
large and is largely done on a small and informal basis. The service sector focuses
heavily on commercial activities and services related to supply. In terms of traffic,
since 2012, the Neak Leung bridge has opened traffic, facilitating convenient
movement between Vietnam and Cambodia, promoting economic exchange.

The Cambodian government has been making great efforts to take measures to reduce
the inflation rate and stimulate economic growth. Encourage funds to invest in
agriculture, reduce commodity taxes and remove barriers in domestic and
international trade.

Contrary to the opinions that Cambodia's economy is backward and facing many
difficulties, according to the latest report of the International Monetary Fund (IMF) on
the global economic outlook, in which the Cambodian economy is forecasted. will
grow - 2.8% by 2020. It is forecasted that by 2021, Cambodia is in the group of 3
countries with the fastest recovery in the region with a growth rate of 6.8%, second
only to Malaysia (7.8%). and the Philippines (7.4%). It is forecasted that by 2025,
Cambodia will lead other partners in the region and achieve 6.9% growth, becoming
the fastest growing economy in the ASEAN region.
 GDP >24,5 billion USD

GDP/person 1.512 USD

GNP > 20,8 billion USD

GDP Growth rate -4% (2020)

5.9% 2021)

National expenditure > 8,2 billion USD

National income 6,5 billion USD.

Table 1: Statistics of economic indicators of Cambodia 2020
Social Factor:

When entering a new market, it is important for businesses to learn about the customs
and culture of that country to come up with appropriate strategies.

Figure 2: Angkor Wat Cambodia from the sky

Natural and geographical environment: Cambodia is a neighbouring country with

Vietnam that shares a border (9 common border provinces), 9 international border
gates, 9 national border gates, 30 sub-border gates and many trails, relatively flat
terrain. The canal system is convenient for travel, economic development of both
waterways and roads.

Social-cultural environment: As an Asian country, Cambodia also has a strong

Buddhist culture and Hinduism, which is reflected in famous architectural works such
as the Angkor complex - world cultural heritage to house architectures. housing,
temples, social works, etc. The streams of Buddhist and Hindu thought dominate and
strongly influence all aspects of life both physically and mentally throughout history,
from traditional dances during major festivals. General, worshipping methods, ethical
and social standards and lifestyle of each family.

Figure 3: The girls in Cambodian national clothes

Technological Factors:

Today, Cambodia is a dynamically developed country with technological potential.

Due to open trade exchange with international markets, Cambodia has been invested
by many countries to develop the technology. In which, typically Vietnam has
invested technology in Cambodia to support agricultural development. Besides, before
Covid happened, Cambodia focused on technology development in tourism and
services to attract international tourists' visit. Cambodia also applies technology to
production, animal husbandry, cultivation, etc and even the state factory department to
operate and process. They also apply Information Technology - Engineering to serve
the needs of reform, industrialization and modernization, speeding up the international
economic integration different from thinking about a peanut country behind,
underdeveloped as before.
 Figure 4: The Cambodian farmer uses plows instead of rudimentary tools.

Figure 5: VNPT shares experience in implementing IDC and smart technology

solutions with the Ministry of Post and Telematics of Cambodia

 Porter 5 forces (internal factors) of Vinamilk when doing business in

Cambodia.
 Competition in the industry:
Enterprises operating in the same industry compete directly with each other,
creating enormous pressure for businesses. In the dairy market in Cambodia, a
direct competitor to vinamilk can be mentioned as Moo Moo farm, with the selling
price of the common ground being very cheap compared to the fresh milk market
in Cambodia ($0.5 compared to $2, 5). The consumption of milk from Moo moo
farms has become a phenomenon in recent years, in addition, their main product,
whole milk, is also a product of choice. from consumer customers. Do not stop
there learning promotion policies such as extracting profits from milk bottles to
support poor Cambodia students to go to school or counseling and help farmers
with knowledge of caring for and raising cows from Moo moo farm is gaining a lot
of love from the people of Cambodia. Although Vinamilk has always been
considered a big company in the dairy production sector in this market, it is
undeniable that Moo moo farm is currently one of their most formidable players in
this field of business.

 Potential of new entrants into the industry:

According to the research site ProCon, a fact has been shown that although the
dairy market has been developing and growing, more and more investors want to
pour money into the industry, but currently, there is a major obstacle: The number
of people in Cambodia who refuse to tolerate lactose (a sugar found mainly in
milk, accounting for about 2-8% of the mass) into the body, lactose intolerance is
pointed out by ProCon that is a common occurrence among East Asians and
accounts for 70 to 100 of the population there. It is expected that the dairy
replacement market will become a strong growth sector in the Asia-Pacific region
in the future, according to the Markets and Markets report. It is expected that
between 2020 and 2025 sales of the dairy replacement market will increase from
21.6 billion USD to 36.7 billion USD and achieve a compound annual growth rate
of 11.4%.

As people's health awareness gradually gets better, the vegan diet has become
more popular and more widely developed than before, which is also the reason
why dairy alternatives also become popular. variable ahead of time. “Overall, I
have seen an increase in demand [for the products,” said Lucia Mendez, founder of
Lulu Plant Food. milk alternatives], even from those who consume milk regularly.
Has an interest and curiosity about the alternatives, including myself. Also, I think
many people are questioning the impact of their consumption and once you start
thinking more about sustainability, health, or ending cruelty to animals, options
Plant-based alternatives are the best option. Then there were the foodies, who just
wanted to try different dishes!". The NCBI report also showed that as the dairy
replacement market develops, customers will gain more attention for their
consumption of grains and oilseeds or nuts for product uses. new products to
replace the use of milk.

 Power of suppliers:

Hidden competitors always create a huge competitive pressure even though they
have not appeared on the industry market yet, but with great incentives and
growth, they will appear in the future. The near future is a completely predictable
thing. Factors to appear hidden competitors can be mentioned as industry
profitability, business market compensation, number of customers, and number of
customers. The current economic situation shows that for more than a decade
Cambodia has been one of the fastest-growing countries with an average annual
growth of 7% and since then the middle classes have emerged. The more and more
means that the cost of paying for food and drinks will increase a lot. In 2014, it is
estimated that 44% of people's spending is on food and non-alcoholic drinks,
especially milk, this is considered as a great opportunity for dairy companies.

The policies from the Cambodian government for foreign investors are also one of
the main reasons why they can invest more money here, such as tax exemption and
reduction policies. Up to 9 years for foreign businesses, Cambodia is also one of
the countries with the lowest tax on business in ASEAN, the special economic
zones in this country always facilitate warehousing. and convert currencies as
easily as possible.

The demand of customers here is a huge opportunity for the dairy industry, with
national nutrition programs organized to improve the health of the people, now
milk and related products. To milk has been incorporated into the diet of the
people of Cambodia.

With extremely favorable factors for the dairy industry in Cambodia, more and
more foreign businesses want to invest here, this can be clearly seen through the
formation and development of Momo farm. and from which it can be seen that in
the future there will be more and more competitors seeking to compete with
Vinamilk in this fertile market.

 Power of customers:

This type of pressure can be understood as a kind of supplier quantity regulation to

the business, having more suppliers reduces the pressure on the business than
working with a monopoly supplier. In Cambodia market, Angkormilk factory
established by a joint venture between BPC partner in Cambodia (51%) and
Vinamilk (49%) is a strong point of Vinamilk in this market because they can
ensure the Maintaining the supply of products as well as synchronizing the quality
of products supplied to customers, but owning less shares also has a more or less
impact on the decision-making of Vinamilk's business decisions. can offer. On the
other hand, dairy suppliers from Cambodia farms will also become more difficult
in the coming years as the support and assistance to domestic enterprises is being
planned in this country. The most obvious evidence for this is based on a statement
by Loem Sophanmai, manager of the Royal Cambodian Academy Techo Sen
Russey Trep Park in Preah Vihear province when she said: "the farm has With 100
cows, the output of fresh milk is about 500-600 liters per day. Loem added that the
milk is exported to the capital Phnom Penh ". "We sell fresh milk exclusively to
one company and they bring it to market," added Loem.

Knowing not too many partners right in this market in the future may be one of the
factors that greatly affect Vinamilk and also perhaps this will be the main cause of
competitive pressures from providers.

 Threat of substitute products:

 According to the research site ProCon, a fact has been shown that although the
dairy market has been developing and growing, more and more investors want to
pour money into the industry, but currently, there is a major obstacle: The number
of people in Cambodia who refuse to tolerate lactose (a sugar found mainly in
milk, accounting for about 2-8% of the mass) into the body, lactose intolerance is
pointed out by ProCon that is a common occurrence among East Asians and
accounts for 70 to 100 of the population there. It is expected that the dairy
replacement market will become a strong growth sector in the Asia-Pacific region
in the future, according to the Markets and Markets report. It is expected that
between 2020 and 2025 sales of the dairy replacement market will increase from
21.6 billion USD to 36.7 billion USD and achieve a compound annual growth rate
of 11.4%.

As people's health awareness gradually gets better, the vegan diet has become
more popular and more widely developed than before, which is also the reason
why dairy alternatives also become popular. variable ahead of time. “Overall, I
have seen an increase in demand [for the products,” said Lucia Mendez, founder of
Lulu Plant Food. milk alternatives], even from those who consume milk regularly.
Has an interest and curiosity about the alternatives, including myself. Also, I think
many people are questioning the impact of their consumption and once you start
thinking more about sustainability, health, or ending cruelty to animals, options
Plant-based alternatives are the best option. Then there were the foodies, who just
wanted to try different dishes! ". The NCBI report also showed that as the dairy
replacement market develops, customers will gain more attention for their
consumption of grains and oilseeds or nuts for product uses. new products to
replace the use of milk.

 Plan 5-years: Solution

Targets for the next 5-6 years, the market share is about 10% - 15% (in Cambodia)

The current market share of VNM is 58% (internal market), the next 5-6-years plan
increases 2% market share each year, we put the target it increases by 4%, which
means it has doubled. Thus, the 5-year target will increase over 60% of the market
share (in & ex market).

Products in VNM's growth target, including baby nutritional powder, fresh milk, and
yogurt ... all grew as expected. For non-traditional products such as walnut soybean
milk, soft drinks ... are being carried out under the next 5-6-years plan.

Straegy: “Striving to ensure a balanced and reasonable nutrition is an important factor

towards global development in terms of stature, physical and intellect of Vietnamese
people and improving the quality of life”.

First year Second Third year Four year Five year Sixth year
year

The first Second, Third, Fourthly, step Fifth, Sixthly,

is to improve improve by step improve improve the
continue the micronutrient effectively knowledge capacity and
to nutritional status control and efficiency of
improve status of overweight - increase the network
the mothers obesity and the of nutrition
quantity and risk factors of practice of in
and children. some chronic proper communities
quality of non- nutrition and health
people's communicable facilities.
meals. diseases
related to
adult
nutrition.

Along with the level of social development, the need to improve health as well as the
beauty factor has increased dramatically, especially in developing countries like
Cambodia, which focus more on these two factors. In the 5-year plan to contribute to
Vinamilk's market share growth to over 60%, Vinamilk decided to formulate a plan to
cooperate with Duoc Hau Giang Company to launch a line of dairy products with
elements that support health as well as work. As beautiful as a functional food, it still
ensures a full range of health needs.

This is an important event, marking a new development step in promoting strategic

cooperation in product development, sales, and distribution between the two leading
pharmaceutical and nutrition companies in Vietnam.

Currently, obese children are increasing, creating motivation for Vinamilk to

introduce the milk market to lose weight and immediately receive support from
consumers.

Through practical research from preliminary results of the investigation of overweight

and obesity in our country recently conducted by the National Institute of Nutrition,
there are 16.8% of people aged 25-64, children under 15, 20.3% of age are overweight
and obese according to Asian standards. Stemming from the fact that the proportion of
people who are obese and overweight in Cambodia is increasing, especially in
children. At the same time, through research on the milk market to lose weight,
Vinamilk found that there are very few competitors participating in this market.

Vinamilk conceptualized and launched the product "Weight Loss Vinamilk Milk".
Milk weight loss helps overweight people control their weight through diet, reduce
satiety threshold and completely maintain nutrition for daily life. Not only launching
innovative, international quality products that are beneficial to consumers, the
handshake of Vinamlk and DHG Pharma is also expected to contribute to improving
the quality of life for people. improving the community's health and nutritional
conditions, reducing medical costs and putting pressure on health care infrastructure
that is still limited and overcrowded like in Cambodia. Through the above factors, we
can clearly show the Cambodian people and government that we not only want to
develop and increase profits, but also concern about the public health of the
Cambodian people. Specifically, in the first 2 years after the handshake of Vinamilk
and Duoc Hau Giang, the rest of the time Vinamilk continues to coordinate to research
and continue to produce better products to meet health needs through research. to
follow consumers in Cambodia and then implement Plan 2 in addition to a good
product, we also have to prove to them that our product is completely up to the
standard under the strictest production factors through regulations of major countries
by perfecting, researching and developing technology, equipment and machinery to
meet the strict needs of health safety to not only meet the demand for use in Vietnam
and Cambodia but also reaching out to major markets in the world. Continuing to
exploit in parallel to improve the Angkor Dairy Factory, which was built
synchronously from filling, processing, filling to finished packaging, and managed by
the optimal management program from Tetra Pak to fully control. processing, filling,
and interconnected areas with enterprise resource management systems. All stages
from the design, construction of factories to the installation of machinery, equipment,
and production lines are in accordance with international food safety and
environmental standards.

Vinamilk always strictly complies with processes and standards show absolute
commitment to the committed mission to carry providing high quality nutrition and
quality to the community Top. Vinamilk has further improved the production system
basically complete the investment plan according to the plan 5 year as well as
doubling capacity in some products, ensuring to meet consumer demand. At the same
time, Vinamilk has standardize all factories, save raw materials, stabilize quality
chemistry and maximize the use of the equipment.

III. Conclusion:

1. Summary of the key points:

In the current market economy conditions, promoting export activities is a necessary

and very important job for any exporting company that wants to survive and develop
in the market for a long time. Net foreign sales were VND 8,794 billion, of which
direct exports contributed VND 5,561 billion and foreign branches contributed VND
3,233 billion. Typically, in 2019, the factory achieved impressive revenue growth of
more than 25% (reaching nearly 50.3 million USD, equivalent to 1,165 billion VND)
of the Angkor dairy factory in Cambodia and nearly 15% of export activities. direct
export. In general, the Company's export activities in the Cambodian market have
achieved many commendable results: the annual sales have increased, making a great
contribution to total revenue and enhancing the Company's competitive position in the
market. world school. The company's products are increasingly chosen by many
Cambodian customers, with many positive promises for a long-term cooperation
relationship. Formulating a strategy for the company is not an easy thing, it is a
research process of managers, when formulating a strategy for the company, the
manager must find out clearly matching the source of the strategy. of the company.
The investment strategy for the system of domestic and foreign dairy farms is
considered a lever to help Vinamilk move faster towards the goal of the Top 30 largest
dairy companies in the world as well as to lead the region in nutritional trends in the
world like Organic.

2. Recommendations:
For the State:

Firstly, continue to create favorable procedures for businesses to borrow capital from
the interest rate support policy to develop production and export.

Second, continue to adjust interest rates in line with market movements. This is an
effective measure to stimulate demand and boost production.

Third, consider extending the time to pay import taxes on raw materials and inputs for
export production, creating conditions for enterprises to reduce production costs and
increase the competitiveness of goods.

Fourthly, to identify the promotion of goods export as one of the key tasks, promoting
the expansion of export markets to areas less affected by the financial crisis and
economic recession.

Fifth, the system of legal documents, especially administrative procedures related to

export and customs, although amended and supplemented, is still quite complicated, in
many stages. The State should continue to improve and simplify these procedures to
suit the new situation in order to create favorable conditions for enterprises to conduct
effective export business.

For Company:
-The company needs to have solutions to synchronize activities from production to
business.

- Establishing product policies in accordance with the conditions and regulations of

the Cambodian market: product quality and price, constantly improving and
developing new products, and regularly improving product quality.

- Strengthen marketing activities, trade promotion, do well R&D to make appropriate

long-term business plans.

- To further improve the distribution channel system. Expanding new markets as well
as factories.

- Strengthen the planning of areas for raising raw materials to ensure quality and
stabilize output. Implement the mới el of traceability of raw materials to prove the
origin of raw materials, bring peace of mind to customers as well as bring
competitiveness to the product.

References:

Nguyen Nam, (2020). HỒ SƠ THỊ TRƯỜNG CAMPUCHIA. Accessible at

https://vcci.com.vn/uploads/Campuchia_2020.pdf. pp 04-05.

Verbeke, A. (2013). International business strategy. Cambridge University Press. pp

128-285.

Nguyen, K. (2016). Vinamilk: A Case Study on Partnering Up to Expand on the

World Market. Multinational Management, 257–271. doi:10.1007/978-3-319-23012-

2_14

Holy cow! nation's new dairy industry may be moo-ving on - khmer times. (2020, March 19).
Retrieved March 24, 2021, from https://www.khmertimeskh.com/50703581/holy-cow-
nations-new-dairy-industry-may-be-moo-ving-on/.