Exporters have not fully exploited the potential of the Malaysiandemand for food, a representative of the Malaysian Small and MediumEnterprise Association in Vietnam told the Asian Connection Conferencein HCM City on November 29.
Pham Thi Thanh Ha said thatVietnam's food export value to Malaysia accounted for only 3.3 percentof Malaysia's total while Thailand's exports to Malaysia accounted formore than 20 percent.
Four years ago, Vietnam's food and foodstuff export value was only 2.1 percent.
Export value could be higher, as the two countries are located near each other and trade promotions in Malaysia are not costly.
Vietnameseexporters also have an opportunity to export Halal food favoured bymany Malaysians, even those who are non-Muslim. About 2.1 millionMuslims live in Malaysia.
She noted, however, that companies must have proper Halal certificates or have a Halal logo on their exports.
Businesses were encouraged to participate in fairs and exhibitions in Malaysia to access partners and buyers quickly, she said.
Whendoing business in Malaysia, Vietnamese companies should have staff whospeak English and Chinese, since Chinese accounted for 80 percent of theeconomy, even though they comprise only 20 per cent of the population,she added.
Ha advised Vietnamese exporters to conduct extensive surveys to learn about the market and then seek trade partners.
Ly Truong Chien, chairman of the Tri Tri Group, said market research was a key factor in becoming successful.
The world has changed rapidly, requiring businesses to have updated information and databases.
Market information is valid for only two years, he added.
Moreover, business plans must be based on what the market needs and a company's capacities.
"Confidence must be built based on a thorough investment and preparation," he said.
The Asia Connection event is part of activities included in the "economic pillars" of the ASEAN Community.
TheAsia Connection conference is expected to take place every six monthsin Vietnam and in other Asian countries and territories, includingMalaysia, Singapore, Thailand, Indonesia, Myanmar, Hong Kong andTaiwan.-VNA
Pham Thi Thanh Ha said thatVietnam's food export value to Malaysia accounted for only 3.3 percentof Malaysia's total while Thailand's exports to Malaysia accounted formore than 20 percent.
Four years ago, Vietnam's food and foodstuff export value was only 2.1 percent.
Export value could be higher, as the two countries are located near each other and trade promotions in Malaysia are not costly.
Vietnameseexporters also have an opportunity to export Halal food favoured bymany Malaysians, even those who are non-Muslim. About 2.1 millionMuslims live in Malaysia.
She noted, however, that companies must have proper Halal certificates or have a Halal logo on their exports.
Businesses were encouraged to participate in fairs and exhibitions in Malaysia to access partners and buyers quickly, she said.
Whendoing business in Malaysia, Vietnamese companies should have staff whospeak English and Chinese, since Chinese accounted for 80 percent of theeconomy, even though they comprise only 20 per cent of the population,she added.
Ha advised Vietnamese exporters to conduct extensive surveys to learn about the market and then seek trade partners.
Ly Truong Chien, chairman of the Tri Tri Group, said market research was a key factor in becoming successful.
The world has changed rapidly, requiring businesses to have updated information and databases.
Market information is valid for only two years, he added.
Moreover, business plans must be based on what the market needs and a company's capacities.
"Confidence must be built based on a thorough investment and preparation," he said.
The Asia Connection event is part of activities included in the "economic pillars" of the ASEAN Community.
TheAsia Connection conference is expected to take place every six monthsin Vietnam and in other Asian countries and territories, includingMalaysia, Singapore, Thailand, Indonesia, Myanmar, Hong Kong andTaiwan.-VNA
