Faced with increased competition at home and stringent export requirements, food companies can remain competitive only by improving quality and production methods, experts have said.
The ongoing weak global demand is affecting the industry as are issues related to barriers in export markets and the impacts of climate change on food production, they said.
Viet Nam’s major markets like the US, EU and China have tough standards in terms of quality, food hygiene and safety that its exporters must comply with.
Geopolitical instability, with the ongoing Russia-Ukraine conflict being a significant factor, and changing consumption patterns, with a shift towards plant-based protein sources, are also affecting the industry.
Speaking at a seminar last Friday, Nguyen Thi Chan, head of the food department at TUV SUD Vietnam Company, said to remain competitive, local exporters must enhance production methods, trading habits and market approaches.
They must ensure traceability for their products and improve quality to meet the strict requirements abroad, she said.
For this, they need to continually innovate their production methods and study trade barriers, she added.
Nguyen Tuan, deputy director of the HCM City Investment and Trade Promotion Center (ITPC), said these challenges do not preclude opportunities for the industry.
HCM City is focusing on developing a sustainable food processing industry, he said.
To support food processing businesses, it has drafted a plan to attract investments and keep firms updated on the latest market trends, standards and quality requirements, he added.
Leading F&B trade show
The seminar was held by the ITPC and HCM City Food and Foodstuff Association as part of the second HCM City Food Exhibition (HCMC FOODEX 2023) to be held from June 28 to 30.
Viet Nam’s leading food and beverage expo, which will have over 200 local and foreign exhibitors, will showcase agricultural products, seafood, spices, machinery and equipment, and processed foods.
Visitors can also attend B2B matchmaking sessions and seminars and conferences on new trends and technologies, opportunities, challenges, and more.
The Vietnamese culinary culture and other cuisines will be highlighted at the three-day fair. — VNS