Vietnam’s Food enterprises to develop along the value chain
In order to improve the product quality, Vietnam’s food enterprises should invest and develop along the value chain.
At the Vietnam Food Forum 2017 held on November 16 with theme “Improving the Vietnamese food value chain”, the Vice Minister of Industry & Trade Do Thang Hai said, the Ministry of Industry & Trade along with related ministries have been encouraging and supporting food enterprises to invest and develop along the value chain, with an aim to ensure food safety, developing brands and expanding markets.
A booth at the Vietnam Foodexpo 2017.
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With regard to the food issue, representative of Nielsen Vietnam said, a recent survey conducted by Nielson Vietnam showed that with the current trend, demands of Vietnamese customers with regard to new products and high quality are higher. Customers expect products with quality and credibility, especially for middle income segment, as they are searching for products from well known brands. The luxury goods segment has also improved significantly in some sectors, while in food sector this number has increased 11%.
Survey of Nielsen Vietnam also showed that63% of customers are willing to pay for luxury goods with high quality and safety. Meanwhile, 53% will pay for luxury goods as they are included friendly ingredients. On the other hand, in order to create advantage for products, enterprises should consider to use e-commerce as an efficient way to access customers.
From the perspective of distributors, representatives from modern distribution channels such as Walmart (US), CJ, Lotte (Korea), AEON (Japan), Central Group (Thailand), Vinmart and Satra (Vietnam) all agreed that, in order for Vietnamese products to be included in modern distribution channels, in addition to price, design and difference to similar products, enterprises should consider to the food safety and origin of products.
According to the Agro Processing and Market Development Authority of the Ministry of Agriculture and Rural Development, Vietnam has advantage of abundant ingredients, which can supply demands for large scale food production and processing. In reality, more and more enterprises from Vietnam and abroad are investing in Vietnam food sector, such as Satra, Vinmart, Saigon Co.op, Pan Group of Vietnam, and large foreign companies such as CJ, AEON to cooperate with domestic partners in developing the food processing chain with diversified products.
Director for R&D of PAN Group – Trung Anh said the strategy of PAN Group is to develop products along the value chain. As such, the company has cooperated with high potential companies in Vietnam, actively looking for ingredient supply and producing foods with its own brands; ensure the efficiency of completed production chain from production to distribution. Especially, the company also focuses on development and innovation, applying modern technologies from Europe to production, in turn to create products with attractive design.
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