Vietnam has been considered as a “fertile land” for foreign food firms as many trademarks from the Republic of Korea (RoK), Japan and Thailand are seeking ways to penetrate the 93 million-strong market.
Hanoi (VNA) – Vietnam has been consideredas a “fertile land” for foreign food firms as many trademarks from the Republicof Korea (RoK), Japan and Thailand are seeking ways to penetrate the 93million-strong market.
Statistics from the Vietnam Retailers’ Association (VRA)showed that the country’s food consumption in the 2011-2016 period reachedabout 30 billion USD with two-digit growth predicted in the future.
Han Kyung Joon, Vice Director of the Korea Trade and InvestmentPromotion Agency (KOTRA), said that after with the Korea-Vietnam Free Trade Agreement(KVFTA) became effective in 2015, Korean enterprises have switched their focusfrom the Chinese market to Vietnam in an effort to boost the export of consumergoods.
Along with merging and acquisition deals with highvalue, a strong wave of Korean investments has been seen in Vietnam’s food andbeverage market.
On October 31, a delegation of businesses operating inthe food and beverage industry from the RoK’s Jeju visited Ho Chi Minh City toseek Vietnamese distributors. The Ho Chi Minh City Branch of the VietnamChamber of Commerce and Industry (VCCI) said that the visit was a success.
At the beginning of the second quarter, RoK’sK-FOORAND ZONE opened its shop in Lotte Mart in Ho Chi Minh City, marking anexpansion of Korean food coverage in Vietnam.
On November 8, the second Food and Beverage Exhibition2017 will be held in Hanoi after the first one in August in Ho Chi Minh Citywhere the RoK took the lead in the number of participating enterprises.
Japanese food brands are also deploying plans to bringtheir products into the Vietnamese market. Takimoto Koji, head of the JapanExternal Trade Organisation (JETRO) in Ho Chi Minh City, said Vietnam is thefirst country chosen by Japan in its campaign to export more food to the world.
Since late 2016, JETRO has cooperated with somedistributors of Ministop, FamilyMart and Aeon in Vietnam to sell Japanese food.JETRO plans to increase food exports by 30 percent next year from the currentamount of 10 million USD.
A report released by StoxPlus in 2016 showed that in2015-2016, the majority of merging and acquisition deals in the processed foodmarket of Vietnam came from Asian investors, including those from Japan,Thailand and the RoK.-VNA
Japan is boosting promotion of its food products in Vietnam, said Takimoto Koji, Chief Representative of the Japan External Trade Organisation (JETRO) at the Japan Fair in HCM City on November 1.
Vietnam shipped 5.05 million tonnes of rice worth 2.25 billion USD in the first ten months of 2017, up 22.3 percent in volume and 21.1 percent in value year on year.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
At a FamilyMart shop (Photo: VNA) 
