Trang tiếng Việt
Viet Nam to develop brand for food industry, quality first PDF Print
Monday, 28 November 2016 13:24

VIETRADE - Deputy Prime Minister Trinh Dinh Dung has asked the Ministry of Industry and Trade to continue the effort of developing branding program for the food industry. Accordingly, a strategy on Vietnam food industry branding will be developed in line with the National Branding Program which had been approved in 2003.


The purpose of the program is to increase awareness and recognition about the value of the Vietnamese food industry in an international scale, which would help promote the industry’s growth as well as accelerate exports of Vietnamese food products to the global market.


Developing brand for the food industry is critical as this is one among industries with large potential of Vietnam but Vietnamese food products have not gained firm footholds in the world market.


In fact, many countries are consuming Vietnamese food products but do not know that those products originate from Vietnam.


According to the Ministry of Industry and Trade, the food industry contributes significantly to the country’s gross domestic product (GDP). It is estimated that annual consumption of food products accounts for around 15-20 per cent of GDP. However, the rapid global integration is bringing not only opportunities but also challenges to the industry.


Vietnamese food products are encountering with increasingly harsh competition in both quality and prices of imported products. Experts at a recent workshop said that producers should give priority enhancing product quality in order to be able to compete in the global market. It is important that businesses understand quality requirements of imported market and ensure their products to meet the standards. Experts also urged producers to apply modern technologies in production as a measure to boost quality and enhance competitiveness.


According to the Vietnam Association of Food Science and Technology, the Government should have policies to encourage businesses while building quality control procedures which were important to ensure product quality.


The Ministry of Industry and Trade said that market research should be focused in order to develop products appropriate to tastes of each markets, adding that developing brand must accompany with improving the distribution system.


Attracting investments

Deputy Minister of Industry and Trade Ho Thi Kim Thoa said at a conference held on November 16 within the framework of Vietnam Foodexpo 2016 that Vietnam expected to attract greater foreign investments in the food industry.


The ministry’s statistics showed that foreign investment poured into the food processing industry remained modest, merely US$7.6 billion in 521 projects, compared to the country’s total foreign direct investment of nearly $290 billlion.


Do Xuan Quang, Deputy Director of the Ministry of Planning and Investment’s Foreign Investment Agency, said that the shortage of a raw material planning was hindering investments in the food processing industry. Firms had not paid adequate attention to develop raw material areas while a majority of raw materials must be imported.To promote investments, experts said that developing a planning of raw material areas was essential coupled with investment incentives to be raised consistently.


Bui Huy Son, Director General of the Vietnam Trade Promotion Agency said at the conference that with stable economic growth, Vietnam is an attractive destination for foreign investments. The country is also one among leading exporters of agricultural and fisheries products.Vietnam had large potential to develop the food processing industry, given abundant raw materials and original specialties, Son said, adding that the average consumption of food per year was estimated to increase by more than 18 per cent during 2014-2019 period.


Son said that attracting investments, especially foreign investments in the food processing industry would promote the application of modern technologies in production, which would help improve product quality and food hygiene, enhance added value and competitiveness, as well as the participation in the global value chain./.

Newer news items:
Older news items:

© 2011 Vietnam Trade Promotion Agency - VIETRADE
 This site best viewed with Google Chrome