Seminar to promote investment in food processing industry

More than 200 domestic and foreign businesses are expected to take part in an investment promotion seminar for the food processing industry in Ho Chi Minh City on November 14.

Co-organised by the Trade Promotion Agency under the Ministry of Industry and Trade and the Foreign Investment Agency under the Ministry of Planning and Investment, the event will create opportunities for Vietnamese firms to exchange with foreign partners and develop new products.
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The seminar will provide participants with an overall view of the food processing industry in Vietnam and discuss investment trends, cooperation opportunities and technological transfers between Vietnamese and foreign enterprises.

According to experts, Vietnam’s food processing industry is witnessing a strong growth and able to supply highly-competitive products for both domestic consumption and export.

Currently, food and beverages account for the highest proportion of monthly expenditure among Vietnamese consumers (about 35 percent). Vietnam’s annual food consumption is estimated at around 15 percent of gross domestic product (GDP), and is on the rise.

Tran Kim Oanh, director of the investment promotion centre at the Trade Promotion Agency, said food businesses account for only 2.1 percent of the number of enterprises in the country, but their revenue makes up 7.3 percent of the nation’s total.