The Hanoitimes - More than 170 food and beverage producers and distributors from more than 20 countries and territories worldwide are displaying their products at the 2018 Food Ingredients Vietnam (Fi Vietnam 2018) that opened in Ho Chi Minh City on May 16.
This year’s expo is 71 percent larger than the previous one (Fi Vietnam 2016), indicating the attractiveness of Vietnam’s food and beverage market.
According to Rungphech (Rose) Chitanuwat, Business Director of Thailand’s UBM Asia - the organiser of Fi Vietnam 2018, the three-day expo will also feature international conferences and professional seminars.
The opening ceremony of Fi Vietnam 2018. Photo: nongnghiep.vn
The expo is expected to open up doors for cooperation between Vietnamese food and beverage enterprises with their foreign partners, she said.
Ly Kim Chi, Chairwoman of the HCM City Food and Foodstuff Association, said Fi Vietnam 2018 introduces state-of-the-art solutions in the food industry, suggesting Vietnamese businesses take advantage of this opportunity to exchange experience and technologies.
She said the country’s food and beverage sector has enjoyed strong growth in recent years. The market is expected to maintain its high growth rate in the coming years and rank third in Asia, she said.
But now it has to import more than 80 percent of its food and beverage ingredients since it is either unable to produce them or ensure consistent quality, she said.
A report of Euromonitor, a market research group, reveals that Vietnam ranks third in the Association of Southeast Asian Nations (ASEAN) in terms of food and beverage services.
With a population of about 93 million, more than half of them are under 30 years old, the country has favourable conditions to become one of the most promising food and beverage markets in the region, the report said.