Korean businessmen to explore opportunities in food processing industry of Vietnam

The Korean delegation, composed of business representatives from 10 Korean food companies, will explore business opportunities in the food processing industry of Vietnam and seek to create a business network with their Vietnamese counterparts.

Korean businessmen to explore opportunities in food processing industry of Vietnam.

Lee Hyuk, Secretary General of the ASEAN-Korea Centre noted, “Vietnam has shown the most robust economic growth among the 10 ASEAN Member States, expecting 7% economic growth in 2018. The Vietnamese government recognizes rapid development in the food processing industry as one of the contributing factors to the country’s remarkable growth. 

Growing purchasing power and changing lifestyle of its people are further stimulating soaring demand for good-quality processed foods. Against this backdrop, the program will offer an opportunity for Korean investors and buyers seeking for businesses in Vietnam to explore new business opportunities in the food processing industry of the country.”

On 14 November, the Korean business delegation will pay an industrial visit to the Long Hau Industrial Park. Located only 3 km away from the Saigon Premier Container Terminal, Saigon-Hiep Phuoc Seaport, and Hiep Phuoc New Port and 19 km away from Ho Chi Minh City, the Industrial Park boasts easy access to technical infrastructure, labor resources, and consumption market and hosts a total of 160 companies from home and abroad including Lotte Logistics and Yes 24 of Korea. In the afternoon, the Korean delegation will visit the Vietnam Foodexpo, the largest international food exhibition in the country, to find potential business partners and conduct one-on-one business meetings. 

A networking dinner will also take place where Korean businessmen who have presence in Ho Chi Minh and officials from the Ho Chi Minh Consulate General, the Korea Trade-Investment Promotion Agency (KOTRA), and the KOCHAM will share their experiences and practical information on doing businesses in the country.

On 15 November, the Vietnam Investment Promotion Conference for the Food Processing Industry will be held at the Conference Hall at Saigon Exhibition and Convention Center (SECC). Secretary General Lee Hyuk and Deputy Minister of Industry and Trade of Vietnam Do Thang Hai are slated to deliver remarks at the opening ceremony. 

Government officials from VIETRADE, Ministry of Planning and Investment, and Ministry of Industry and Trade will present current development of and trends in the food processing industry in the country and investment promotion policy and incentives for high-tech food processing projects. CJ Cheiljedang, a Korean food giant who successfully established its business in Ho Chi Minh, will share their experiences and success factors with potential Korean buyers and investors.