Food enterprises in Ho Chi Minh City eager to tap into market recovery

Speaking at a press conference on July 29, Ly Kim Chi, chairwoman of the Ho Chi Minh City Food and Foodstuff Association said, "In the context of the global food supply chain undergoing positive changes, Vietnam has taken advantage of its natural conditions and high-tech agricultural development to export products and processed foods to over 180 countries and territories."

"In Ho Chi Minh City, food processing is one of the four priority industries for development, accounting for 13.78 per cent of total industrial production value and contributing 13.69 per cent of the added value of the entire industry. The municipal city maintained the industrial production index of food processing at an average 7.04 per cent per year during the 2018–2022 period," Chi said.

She further noted the city's food processing industry has been on the recovery in the first six months of 2024. It is estimated that the export turnover of food and foodstuffs reached $2.8 billion within the first six months, an increase of 35 per cent from a previous year and accounting for more than 15 per cent of the city's total export turnover.

Municipal businesses posted a record high growth rate of export orders in the first half, especially for rice, vegetables, coffee, and seafood products.

The 28^th Vietfood & Beverage Propack Vietnam 2024, which takes place from August 8 to 10, will offer a platform for Vietnamese businesses, including those from Ho Chi Minh City, to promote their products and brand awareness while scouting potential customers. The expo also paves the way for Vietnamese enterprises to expand their markets and network with international partners.

At the expo, numerous foreign brands showcase their products and look for investment and collaboration opportunities in Vietnam’s lucrative food and beverage industry. These brands are from China, India, Poland, Taiwan, Korea, Indonesia, Russia, Japan, Singapore, and Thailand.

In addition, there are also seminars discussing the green and sustainable development trends in food and foodstuffs, such as "Towards Net-Zero: Strategies and solutions for carbon reduction in the food industry" and "Green Packaging - The inevitable trend of food packaging."

Commenting on these trends, Chi added, "The world's leading import and consumption markets, such as the United States, Europe, China, and others, have tightened their requirements for sustainability for all products in the food supply chain. Changing consumer behaviour, especially the growing preference for organic products, prompt exporters and enterprises to research and develop new products to keep up with consumption trends."

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