North Kinh Do Company: A Strategic Bakery Arm Under Mondelez’s Global Umbrella

North Kinh Do One Member Company Limited, known in Vietnamese as Công Ty Kinh Đô Miền Bắc, has been a key force in Vietnam’s confectionery sector for over two decades. Operating as a foreign direct investment (FDI) enterprise fully owned by Mondelez Kinh Do Vietnam Joint Stock Company, it plays a vital role in producing and distributing bakery products across northern Vietnam.

Established in January 2000 and headquartered in Hung Yen Province, North Kinh Do manufactures a wide range of baked goods and confectionery items. The company’s chairman, Mr. Anil V., an Indian national, oversees a workforce of 1,500 employees. In addition to its manufacturing base, the company also maintains a transaction office in District 1, Ho Chi Minh City, reinforcing its presence in both the northern and southern markets.

Regarding financial performance, North Kinh Do experienced mixed results in 2023. While sales revenue declined by 13.96% to USD 137.2 million, net profit surged by 57.3% to USD 11.39 million, indicating a major improvement in operational efficiency or cost control. The company also recorded a significant increase in equity—up 43.5% year-over-year—suggesting retained earnings were being reinvested to strengthen the balance sheet. However, total assets fell 15.28% to USD 65 million, and working capital remained in the red at –USD 11.52 million, signaling potential short-term liquidity pressures.

North Kinh Do’s ownership by Mondelez Kinh Do, itself a major multinational player in the snacking industry, provides it with strong brand support and access to advanced manufacturing practices. Its business lines include not only bakery production but also cocoa and chocolate confectionery, fishery processing, and even civil construction—a diversification that, while unusual, reflects Vietnam’s often broad licensing practices.

With over 25 years in the market and Mondelez's global backing, North Kinh Do remains a stable and profitable contributor to Vietnam’s processed food sector. To ensure long-term growth, the company will need to monitor its liquidity closely while continuing to adapt to changing consumer tastes and competitive dynamics in the region.