Economic downturn boosts beer consumption in Vietnam: report

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Vietnamese people are drinking more beer amidst the economic downturn, according to a recent report by the Ministry of Industry and Trade.

The report found that revenues of two major brewers in the country, Hanoi Beer and Beverage Corp (Habeco) and Saigon Beer Alcohol Beverage Corporation (Sabeco), have increased over the first half of this year.

Habeco reported revenues of VND770.9 billion (US$37 million), a 28.2 percent year-on-year increase .

The company sold 30.6 million liters of canned beer, up 72 percent over the same period last year; and 17.3 million liters of draught beer, up 27.5 percent. It earned profits of more than VND2,550 billion, an increase of 10.3 percent.

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Meanwhile, Sabeco also reported a profit increase of nine percent over last year.

A survey last year by major Japanese brewer Kirin Holdings Co. found Vietnam among the top 25 beer-consuming nations in the world.

Of the 25 nations surveyed, consumption rose most significantly in Nigeria, which increased its beer intake by 17.2 percent, followed by India, up 17 percent, Brazil, 16 percent, and Vietnam, 15 percent.

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