SABMiller's global expansion plans continue, with the brewing giant announcing on Friday it was to enter the Vietnam market with a R300-million joint venture.

SABMiller said it had entered into a 50-50 joint venture agreement with Vietnam Dairy Projects Joint Stock Company (Vinamilk) to set up a brewery in southern Vietnam.

The brewery will have an initial capacity of 500 000 hectolitres, and is expected to be in operation by next year.

Vinamilk has an estimated 70 percent market share in milk, related products and beverages in the country.

Business Day reports that SABMiller is focusing on the neighbouring fast-growing Chinese beer market as well as expansion into areas such as Colombia, following its takeover of Bavaria last year.

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