The Hanoitimes - Over 200 domestic and foreign businesses are taking part in the VietFood, Beverage and Professional Packing Machines (VietFood & Beverage – ProPack) international exhibition 2017, which is held in Hanoi from November 8-11.
The annual event held by the Vietnam National Trade Fair & Advertising Joint Stock Company (Vinexad) offers a wide range of products such as vegetables, seafood, farm produce, materials for food, beverages and confectionary, alcoholic drinks, fruit juice, tea, coffee, food packaging and preserving equipment, among others.
Apart from products from traditional markets such as Malaysia, the Republic of Korea, and Indonesia, the exhibition will provide new products from European markets like Denmark, Bulgaria and Greece.
The food and beverage market is expected to see potential for further development in the 2017-2018 period, according to the Vietnam Report Company (VNR).
The Business Monitor International (BMI) forecast that the growth rate of the sector would be at 10.9 percent in the 2017-2019 period thanks to people’s increasing income and a trend of using high value products.
The latest figures from the General Statistics Office showed that food production and processing in the first nine months of the year rose by 6.6 percent, while that of the beverage sector was 5 percent higher than the same period last year.
With a population of more than 90 million and an increasing number of tourists, the food and beverage industry has been getting the attention of both local and foreign investors.
In the time to come, the divestment of some leading State-owed enterprises in the sector such as Vinamilk, Sabeco and Habeco would offer opportunities for foreign businesses to enter the potential market, while creating fierce competition, VNR said.
Tuan Minh - Ha Lam