Food processing industry sees stable growth
Foreign and domestic investment has led to an annual growth rate of 10 percent for the food processing industry sector in recent years.
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Foreign and domestic investment has led to an annual growth rate of 10 percent for the food processing industry sector in recent years.
Vietnam sustained its position as the world’s leading cashew processor and exporter in 2018, yet the country still suffered from certain losses, so the sector must strive to regain what it lost in 2018 and improve its export value in 2019, according to insiders.
With its annual stable growth rate of about 10 percent, the country’s young population with increasing income and a trend to consume ready-to-eat food, especially organic, the food processing industry offers many opportunities for investors.
The Mekong Delta city of Can Tho’s agro-forestry-fishery output for this year is 13.5 trillion VND (578.5 million USD), 4.1 percent higher than the target, according to the municipal Department of Agriculture and Rural Development.
The pepper industry plans to reduce the area under the spice and focus on improving quality to ensure long-term growth, according to the Ministry of Agricultural and Rural Development.
Vietnamese consumers are becoming more concerned about the food they eat and have pressing needs for safe food, heard a forum in Ho Chi Minh City.
The Ministry of Industry and Trade has forecast that Vietnam’s total export revenue will grow 10-12 percent to hit a record of 239 billion USD for the whole year 2018, much higher than the set target of 214 billion USD.
The National Target Programme on New-style Rural Area Building for 2018 has achieved its set targets three months earlier than planned, said Nguyen Minh Tien, head of the programme’s Central Coordination Office.
Vietnam’s export value to the US reached 4.89 billion USD in August, the highest level since January this year, according to the General Department of Vietnam Customs.
The Middle East and Africa are promising markets for Vietnamese exports, heard at a seminar in Ho Chi Minh City on September 27.
Vietnam and Russia issued a 40-point joint statement on the official visit to Russia by General Secretary of the Communist Party of Vietnam’s Central Committee Nguyen Phu Trong from September 5-8, made at the invitation of Russian President Vladimir Putin.
Good agricultural practices and food safety certification are the first requirements for agricultural producers who want to export or sell to international retail chains, experts have said.
A business networking programme for Vietnamese and Japanese businesses in agro-fishery and food sectors took place in Hanoi on August 2.
The capital city of Hanoi is leading the country in terms of rural development and is setting an example for the nation with 294 out of 386 communes meeting or exceeding the Government’s new rural development standards.
Vietnam’s exports of agricultural products are expected to face more challenges by the end of the year, so enterprises must follow market developments at home and abroad and improve the quality of their products, according to experts.
Vietnam’s export turnover is likely to reach 236.6 billion USD in 2018, an increase of 10 percent against the previous year, amid favourable domestic and foreign economic conditions, say analysts.
The International Finance Corporation (IFC), a member of the World Bank Group, will help Vietnamese smallholders farmers improve the safety of their products like poultry, fruits and vegetables in a new project.
A pilot programme on ensuring food safety and hygiene at all schools in six districts in HCM City will begin in the upcoming school year.
