APB's first majority-owned brewery in Vietnam, Vietnam Brewery Ltd (VBL) was established in December 1991 and commenced commercial operations in 1993. Situated in Ho Chi Minh City, the brewery brews and markets Tiger Beer, Heineken and its first Vietnamese beer, Bivina. VBL also introduced Amber Stout, Vietnam's first Irish-type draught in 2003.

To tap on the opportunities up in the north, APB commissioned its second brewery in Vietnam, Hatay Brewery Ltd (HBL) in October 2003. Occupying a land area of 30 hectares in Hatay, this wholly-owned brewery of APB brews, packs and markets Tiger Beer, Anchor and Heineken for consumers from the 29 provinces in Northern Vietnam.

In August 2006, APB acquired two more plants in Vietnam - one in Da Nang in central Vietnam and the other in Tien Giang in southern Vietnam. The two breweries currently brew, market and distribute the Foster’s Lager as well as local brands Biere Larue, BGI, Flag and Song Han in Vietnam.

In keeping with its expansion there, APB announced the addition of a fifth brewery, VBL (Quang Nam) Ltd (VBLQN) which is located in Quang Nam, in January 2007. Given its close proximity to Da Nang, VBLQN complements APB's operations in central Vietnam and is involved in the production, marketing and distribution of "Larger" and "Larue" beer brands.

Today, Tiger Beer and Heineken lead the pack of premium beer brands in Vietnam's growing beer market while Anchor continues to garner a good market share in the "bia hoi", or fresh beer segment, the fastest-growing category in the Vietnam beer market.

Testimony to the consistency and popularity of the breweries' excellent quality brews, VBL and HBL have both clinched the Golden Dragon Award, an award in recognition of enterprises which offer products that are highly favoured by the Vietnamese consumers. VBL won the award for 4 years from 2001 to 2004 while HBL clinched its win in 2004.