22:41 (GMT +7) - Monday 11/12/2017

Business

JETRO connects food and agriculture enterprises

Released at: 13:48, 01/08/2017

JETRO connects food and agriculture enterprises

Photo: Khanh Chi (VET)

As Vietnam's food market takes off, Japanese enterprises are eager to find a foothold in the market, according to JETRO.

by Hong Nhung

The number of Japanese restaurants has been rapidly increasing in the two major cities of Hanoi and Ho Chi Minh City in recent years as domestic food consumption becomes more diversified.

Vietnam is becoming a promising market for exported food products from Japan, the “Business Matching of Japanese Agriculture, Fisheries, and Food in Vietnam” seminar, held by the Japan External Trade Organization (JETRO) a few days ago in Ho Chi Minh City, heard.

According to figures for 2016, Vietnam ranked seventh among countries where Japan exported agricultural and food products, by turnover. As a result, JETRO has organized many business connection programs between Vietnamese and Japanese enterprises in Vietnam, contributing to boosting trade relations between the two countries.

In 2015, it organized a connection program for Sake and one for the agriculture, forestry, and fishery sector in 2016. In 2017, based on the rapid growth of the two countries’ enterprises, JETRO a second matching business seminar for the agriculture, forestry, and fishery sector, attended by 35 Japanese enterprises, or double the number in 2015 and expressing the rising appeal of Vietnam’s food market among Japanese companies.

Mr. Hideo Ogata, Business Development Manager at the Itsukifoods Co., said it specializes in producing noodles and began to export products to Vietnam three years ago, some of which can be found at the AEON and FamilyMart chains. “Vietnam is a market of potential for Japanese food producers as the country has a population of 90 million, most of whom are young,” he said. “We would therefore like to expand our businesses in the market and bring more offerings to Vietnamese consumers in the future.”

In November 2016, JETRO joined hands with FamilyMart and Ministop to hold the Japan Fair in Vietnam, which introduced around 70 Japanese food and beverage products in convenience stores, of which one-third continue be sold in the chains.

At the seminar, many Japanese companies said that with a population of 90 million and a young population structure, demand for food, especially clean and safe food, has been increasing in Vietnam and presents opportunities in the market.

According to industry insiders, many major retailers, convenience stores, as well as Japanese restaurant chains are now present in Vietnam, which is a good chance for businesses in Japanese goods, agriculture and food products, and processed seafood.

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