Seminar to promote investment in food processing industry
More than 200 domestic and foreign businesses are expected to take part in an investment promotion seminar for the food processing industry in Ho Chi Minh City on November 14.
Hanoi (VNA) – More than 200 domesticand foreign businesses are expected to take part in an investment promotionseminar for the food processing industry in Ho Chi Minh City on November 14.
Co-organised by the Trade Promotion Agency underthe Ministry of Industry and Trade and the Foreign Investment Agency under theMinistry of Planning and Investment, the event will create opportunities forVietnamese firms to exchange with foreign partners and develop new products. | The seminar will provide participants with anoverall view of the food processing industry in Vietnam and discuss investmenttrends, cooperation opportunities and technological transfers between Vietnameseand foreign enterprises.
According to experts, Vietnam’s food processingindustry is witnessing a strong growth and able to supply highly-competitiveproducts for both domestic consumption and export.
Currently, food and beverages account for thehighest proportion of monthly expenditure among Vietnamese consumers (about 35percent). Vietnam’s annual food consumption is estimated at around 15 percentof gross domestic product (GDP), and is on the rise.
Tran Kim Oanh, director of the investmentpromotion centre at the Trade Promotion Agency, said food businesses accountfor only 2.1 percent of the number of enterprises in the country, but their revenuemakes up 7.3 percent of the nation’s total./.
With its annual stable growth rate of about 10 percent, the country’s young population with increasing income and a trend to consume ready-to-eat food, especially organic, the food processing industry offers many opportunities for investors.
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