Several companies in the sector are successfully exporting to 20 or 30 markets, including Richy Group JSC with its rice crackers and oatmeal cookies and Luong Gia Food with its dried fruits and cereals.
They pay close attention to the quality of raw materials, food safety and quality certification, including ones specific to certain markets such as Halal.
Ly Kim Chi, Chairwoman of the HCM City Food and Foodstuff Association, told Sai Gon Giai Phong Newspaper that the food and foodstuff processing industry is the only one in the city in which domestic companies export more than their foreign counterparts.
Most of the association’s members have order books that are full for the rest of the year, with a few even having orders until Q1 2025, she said.
In the first seven months of this year exports of food and foodstuffs topped 3 billion USD, up 35% year-on-year and accounting for 15% of the city’s total exports.
Going green
Overseas markets are paying more and more attention to sustainable development trends in food and foodstuff production.
In addition to food safety, they include environmental friendliness, usage of organic materials, reuse and recycling of wastes and by-products, and limiting the use of plastics.
Chi said while businesses recognise the importance of going green, they either do not know where to start or lack the resources to do it.
She proposed that relevant agencies and banks should provide loans on easy terms to businesses investing in green production.
Nguyen Ngoc Hoa, Chairman of the HCM City Business Association and Chairman of the HCM City State Financial Investment Company (HFIC), said the latter could provide interest-free loans to support businesses investing in green production and digital transformation.
They should contact HFIC to get the loans, he said, adding that it is important to catch global green trends before importers begin to put up green barriers to trade.
