Last update: 16:35 | 11/08/2017
Half of more than 500 companies attending the show at the Saigon Exhibition and Convention Center (SECC) in HCMC come from abroad, according to the Vietnam National Trade Fair and Advertising Company (Vinexad), the organizer. If SECC is a little bit bigger, 50 more foreign firms would be attending the event.
Onvisa Makkmui of Thailand’s Grand Food Processing Co. Ltd, which missed the exhibition last year because of limited space, said the company believes Vietnam is a highly potential market as it has a young population and a fast growing economy.
The firm’s Lily fruit juice has been welcomed in many foreign markets, including Japan, South Korea, Taiwan, Hong Kong, the Philippines, Singapore, Indonesia, China and UAE, she said, so the beverage could get the same success in Vietnam.
Song Young Tak of South Korea’s Miwami said many South Korean firms are doing well in Vietnam, so Miwami wants to enter this market.
At the current expo, South Korean firms have 70 booths displaying many specialties like kimchi, seaweed and tinned food. Meanwhile, there are 16 Malaysian firms specializing in snacks and processed food.
More European firms are present as well, according to Vinexad. The display area of Polish firms covers a total of 200 square meters and displays many green and fresh agricultural products like fruit, milk, cheese, cereal and cookies.
There are many first-timers from other countries like the Czech Republic, UAE, Brazil and France. They are exploring the market and finding domestic business partners.
According to experts, spending on food and beverages is rising in proportion with economic growth. Food and beverages currently account for 15% of gross domestic product.
Vietnam has a population of more than 90 million, many of them young, so this is an appealing food and beverage market.