The Vietnamese market is witnessing an increasing number of large bakery and confectionery companies, highlighting the sector’s potential for foreign investors, Dieter Dohr, general director-cum-chairman of GHM Company, said.

The announcement was made at a conference held in Ha Noi on Tuesday introducing Iba 2018, an international trade fair on the bakery sector.

“Viet Nam has many delicious and high-quality foods such as breads, coffee and tea. The event will help Vietnamese firms showcase their potential in the bakery and confectionery sector and also gain learning experience from foreign partners,” Dohr said.

He added that the fair is for large, small and-medium-sized enterprises.

Iba 2018 will take place in Munich, Germany, between September 15 and 20 next year. The event hopes to attract companies from 165 countries. It will introduce machinery, equipment, state-of-the-art technology and material for the baking industry. Bakery and confectionery production lines will also be on display at the event.

“In particular, the exhibition will focus on food safety and hygiene of the sector,” he said.

The organiser said technologies for bakery and confectionery production have been diversified. Producers, therefore, should regularly keep abreast of modern technologies and global consumption trend to improve their competitiveness and attract customers.

Notably, many Vietnamese have been undergoing training on bakery and confectionery production in Germany, which will serve as an advantage for the country to expand business with foreign partners.

“Local firms should be confident about bringing their products to international trade fairs,” he noted.

According to Business Monitor International, the nation’s confectionery sector has experienced relatively high and stable growth rate and is forecast to earn revenue of VND40 trillion (US$1.8 billion) in 2018.

China, the US and Cambodia were the top three importers of Vietnamese confectionery last year, followed by Japan and South Korea. China is set to maintain its leading position this year, with import growth estimated at over 40 per cent.

Confectionery exports went up 15 per cent year-on-year in 2016 with export value of $532 million, the Ministry of Industry and Trade reported. Export value in 2015 was $463 million.

The trade fair is organised by the German Baker’s Association and GHM Company once every three years.

In 2015, the exhibition attracted the participation of over 1,300 exhibitors and nearly 78,000 visitors, of which visitors from Germany accounted for 36 per cent while the remaining came from foreign countries. — VNS