Illustrative image. (Photo: VNA)

HCM City (VNA) – Food Ingredients (Fi) Vietnam 2016 exhibition is underway in Ho Chi Minh City, bringing together more than 150 leading producers and distributors of food ingredients from 26 countries and territories worldwide.

Speaking at the opening ceremony on May 18, Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen said he hopes that Fi Vietnam 2016 will help develop the food and beverage industry in Vietnam, especially Ho Chi Minh City.

The three-day event is an opportunity for domestic food and beverage firms to promote their products and boost overseas orders. It is also a platform for them to get access to high-quality ingredient suppliers, Tuyen noted.

According to the Ministry of Industry and Trade, the food industry in Vietnam has seen an annual growth of around 11-12 percent between 2009 and 2015. The rate is forecast to be maintained from now to 2018.

A representative from the US’ National Potato Council said as a member of the Trans-Pacific Partnership (TPP), Vietnam-EU free trade agreement (FTA) and other FTAs, Vietnam would become an appealing destination for foreign investment, particularly in the food processing sector.-VNA