Last year, the beverage industry contributed more than 25.78 trillion VND (1.14 billion USD) to the State budget. Photo: VietQ.vn

The food and beverage sectors have enormous potential for development with a stable annual growth rate of 7-8 percent, according to the Vietnam Beer, Alcohol and Beverage Association (VBA).

With the population of more than 90 million, the food and beverage sectors are key industries and make significant contributions to the country's economy, said Nguyen Van Viet, chairman of the association.

Many domestic and foreign enterprises are seeking opportunities to invest in food and beverage sectors with potential market, Viet said at the opening ceremony of the 19th International Exhibition on Food & Beverage and Food Processing & Packaging Technology & Equipment that opened on September 9 in HCM City.

Last year, the beverage industry contributed more than 25.78 trillion VND (1.14 billion USD) to the State budget and created jobs for more than 400,000 labourers.

The biggest challenge for domestic enterprises in the food and beverage sector is that they have yet to be well-prepared for regional integration, he said.

Domestic enterprises need to better access international markets as well as increase investment in technologies and equipment, he added.

The Vietfood & Beverage- ProPack Vietnam 2015 has attracted 350 domestic and foreign manufacturers and companies that produce additives and dietary supplements from 20 countries and territories, including Egypt, India, Poland, Belgium, Taiwan, Denmark, Germany, the Republic of Korea, Indonesia, Italy, Lithuania, Malaysia, South Africa, Japan, Spain, Thailand, Turkey, China, and Australia.

Alcoholic drinks, beverages, canned food, coffee, dairy products, diet foods, food additives, frozen foods, instant products, organic foods, tea, vitamins and nutritional supplements are among products on display.

The four-day event at Tan Binh Exhibition & Convention Centre was organised by the Vietnam National Trade Fair and Advertising Company under the Ministry of Trade & Industry in coordination with the HCM City Food and Foodstuff Association, the Vietnam Beer, Alcohol & Beverage Association and the Vietnam Tea Association.-VNA