Economy
VN's food processing industry struggles to improve quality and value chain integration
1.
 |
| Visitors at the 2nd ASEAN expo 2018 held in HCM City. — VNA/VNS Photo Xuân Dự |
Viet Nam News
HCM CITY — More than 400 booths introducing typical products from ASEAN countries are being showcased at the 2nd ASEAN Expo 2018 held in HCM City’s Tân Bình Exhibition and Convention Centre.
The event, which was officially opened in the city on Wednesday, aims to celebrate the third anniversary of the ASEAN Economic Community’s (AEC) foundation and looks forward to the World Economic Forum on ASEAN 2018.
The four-day event attracted the participation of Vietnamese firms and those from 10 ASEAN countries such as Laos, Cambodia, Indonesia, Thailand and ASEAN+3 including China, Japan and South Korea. The exhibitors are showcasing consumption goods, handicrafts, cosmetics, garment and textiles and fashions.
Currently, up to 90 per cent of Việt Nam’s businesses is small-and-medium-sized enterprises (SMEs), which mostly operate in the local market. The expo is expected to be an opportunity for Vietnamese businesses to introduce their products to both local consumers and those in the ASEAN region, especially allowing SMEs to enter into the regional market.
Nguyễn Phước Hưng, vice chairman of the HCM City Union of Business Associations, said most Vietnamese businesses have faced a shortage of capital, equipment and market information. For this reason, their products have not been able to compete with firms in the region.
The event would help them promote their exports and develop brand names, he said.
He added that the country should establish a concentrated industrial zone to associate SMEs to join into the production chain and meet standards to bring their products to the ASEAN region. — VNS
