Processing Agricultural Products, Food Attracts Foreign Investors

Processing Agricultural Products, Food Attracts Foreign  Investors

Vietnam's food processing industry has seen a remarkable growth, with an average industrial production index of 6.94% per year for processed food.

Investment in Vietnam - According to experts, the food market in Vietnam has a lot of potential, reflected in many aspects such as high quality raw materials area, large consumption market, the trend of increasing processing products, the support of legal procedures, production costs in Vietnam that is more competitive than many other Asian countries, etc.

Deputy Minister of Industry and Trade Do Thang Hai said that “the annual consumption of food in Vietnam is about 15% per year. In recent 5 years, the consumption of processed food has increased by 9.68% per year, the average consumption of beverages increased by 6.66% per year.”

According to a report by the Business Monitor International, the growth rate forecast of the food processing industry is high, maintaining a compounded annual growth rate of 10.9% for the period 2017-2019, improved income. It forecasts 10% growth in the dairy industry, 10% in confectionery and 11.1% in alcoholic beverages. Consumer goods will focus on food and staple food. In the export market, Vietnam is one of the world's largest exporters of rice, coffee, and cashew nuts. Vietnamese agricultural products export to more than 100 countries, territories in the world. Many countries have high quality requirements, but many Vietnamese agricultural products meet these standards.

" Vietnamese coffee as an example, Starbucks is currently using Arabica coffee from Da Lat - Vietnam and especially Starbucks has more than 21,500 stores in 56 countries, territories around the world. Meanwhile, only 3% of coffee in the world meets Starbucks standards. This proves that the food source of Vietnam meets the standards and quality of the prestigious firms in the world, "said Do Thang Hai.

"If before 2010, Vietnam exports only US$ 300 million, but has increased progressively since 2016 with export turnover of US$ 2.5 billion. In the first 9 months of 2017, export value reached US$ 2.6 billion and US$ 3 billion is projected for the whole 2017. This shows that the potential of Vietnam's agricultural products is huge. Investment policies for foreign and domestic enterprises are also very open. Many foreign investors also say that few countries have these policies like Vietnam" said Vo Thanh Do.


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