Vietnam's potential for food industry promoted at Malaysian expo

In his remarks, Vietnamese Commercial Counsellor in Malaysia Le Phu Cuong hailed the remarkable growth and potential of the nation’s  food sector. With a population of approximately 100 million and a predominantly young workforce, Vietnam has effectively implemented its agricultural export strategies, with a particular focus on key products such as rice, coffee, and high-quality fresh fruits.

Last year’s total export value of agricultural products reached US$26.4 billion, up 17% compared to 2022. While imports of Vietnamese goods fell in Europe and the Americas, the Asian market posted a 6.8% increase in imports of agro-forestry-aquatic products.

Vietnam's key items exported to Malaysia include tea, coffee, pepper, and rice, with rice exports alone hitting more than US$345 million last year. Notably, over the past eight months of this year, Malaysia imported as much rice from Vietnam as it did throughout 2023.

Additionally, Vietnamese fruit products, such as longan, lychee, passion fruit, and red-fleshed dragon fruit, have gained popularity in the Malaysian market.

According to Cuong, the trade office pledged to support businesses in seeking partners and facilitate their entry into the Malaysian market, aiming to promote Vietnamese goods on the world market.

SIBS is an eagerly anticipated annual event for businesses, serving as a vital platform to promote cross-border trade, facilitate connections, showcase creativity, and expand business networks throughout the Association of Southeast Asian Nations (ASEAN). The event generated potential transaction values of up to US$4 billion last year.

This year’s four-day event features over 650 food and beverage exhibition booths and several workshops on halal standards, smart cities, and digital economy. It is expected to welcome as many as 12,000 visitors from 18 countries and territories, including Indonesia, China, Japan, the Republic of Korea, Vietnam, Thailand, Kenya, and Myanmar.