Heineken is pouring money into Vietnam, which lags only Mexico on profitability for the Dutch beverage giant, according to the company's Asia Pacific President Frans Eusman.
Heineken has identified the Southeast Asian nation as the next key driver for its growing APAC business, as it becomes more difficult to squeeze profits from Africa, the Middle East and parts of Europe.
The 143-year-old brewer operates under two company names in Vietnam: APB Hanoi, which is wholly owned, and Vietnam Brewery, in which Heineken has a 60 percent stake.
"We're very proud of what we've been able to create," Eusman told CNBC's "Squawk Box." "Five years ago, Heineken entered with a very small brewery when Vietnam started to open up. Now we are the number two in Vietnam."