Foreign cosmetic exhibitors introduce products in HCM City
Nearly 200 cosmetics producers and firms from Japan, the Republic of Korea (RoK), Singapore, Hong Kong (China) and India are displaying products and services at a fair in Ho Chi Minh City.
(Source: http://auschamvn.org)The three-day event, which opened on June 15, aims to help exhibitors establish partnerships with potential importers, thus expanding markets for their products.
Notably, 80 enterprises from the RoK – famous for its cosmetics, attended the event for the first time.
Vietnam is considered one of the most promising cosmetic markets in the Mekong Sub-region as some 60 percent of the country’s population are young people under 35.
The International Monetary Fund forecasted that four nations in the region including Vietnam, Cambodia, Laos and Myanmar, will reach a combined GDP of 441 billion USD by 2020. The region is an emerging market for consumption of beauty products with annual estimated growth of 30 percent.
According to Nguyen Van Minh, Vice Chairman of the Vietnam Association of Oil, Aromas and Cosmetics, the Vietnamese market consumes 2 billion USD worth of cosmetics per year.
The number of middle-income consumers, who have high command for cosmetics in the country, is predicted to rise to 33 million by 2020.-VNA
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