Vietnam PFA 2019, the very first int’l expo on food and agricultural products in Vietnam, with approximately 150 businesses not only from Vietnam but also from Japan, Korea, China have taken part. This year, enterprises with Vietnamese leading brands such as Vinamilk, TH Milk, Masan, VEAM, Arico, and VMS have participated in the event with 150 stalls showcasing their different products.
The PFA 2019 event is under the patronage of Ministry of Industry and Trade, Ministry of Agriculture and Rural Development; With the co-organization of Vietnam Trade Promotion Agency, Vietnam Industry Agency (Ministry of Industry and Trade), Agro Processing and Market Development Authority (Ministry of Agriculture and Rural Development).
As reported by the Ministry of Agriculture and Rural Development, as of 2018, export turn-over of agricultural and fishery products recorded fairly high growth at $8.8 billion, up to 6.3%; vegetables at $3.8 billion; coffee at $3.5 billion, up to 1.2$ etc. Within the last three years, number of businesses which have invested in agricultural sector, has tripled. The year of 2018 in particular, 10,000 billion VND invested into agriculture.
At the opening ceremony, Dr. Nguyen Quoc Toan – director general of Agro Processing and Market Development Authority- Ministry of Agriculture and Rural Development said: To foster agriculture industry to higher level, achieving benefits from both multi- and bilateral trade agreements, one of the most necessary solution is to prioritize investment for R&D of technology lines, seeds, preserve, cleaning, etc. in order to diversify and fulfill product quality and ultimately to meet international technical standards. Though Vietnam PFA 2019 is the first expo specialized on this sector in Vietnam. Thanks to its meaning and the importance, this event has attracted both many foreign and domestic businesses at the moment.
According to the representative of the Ministry of Agriculture and Rural Development at the expo, Vietnam PFA 2019 is expected to strengthening trade links and market expansion, opening up business opportunities, and improving the overall quality of agricultural products. Boosts in these areas will help the country increase the added value of its farm produce as well as its involvement in the regional and global supply chain.
Furthermore, EU-Vietnam FTA was signed and is about to come into effect in the near future. This agreement will bring plenty of great chances for Vietnamese manufacturers and businesses in expanding exports to European countries, however, there is the fact that that not only Vietnamese companies but also Vietnamese government will face many challenges such as more and more international competition penetrating into Vietnam market, product quality, IP regulations, labor issues etc. Therefore, Vietnam needs to make double efforts to meet these required standards.
As food processing and machinery sector is one of the most well-known major that Italian businesses have earned a fame worldwide. Thus, ICHAM is glad to support Vietnamese enterprises by providing tailored B2B conference with the concentration on this sector in October 2019. Based on reality, potentials and development orientation in Vietnam market, ICHAM believes that through our specialized events and intensive seminars, Vietnamese companies can get fruitful experiences and lessons from our trustful Italian partners.