Vietnamese coffee in prospect
(VOV) - There is high hope that Vietnamese coffee will come into focus soon, said Dang Le Nguyen Vu, Chairman and General Director of Trung Nguyen Coffee Group.
The fourth annual Coffee Festival 2013 held in Buon Ma Thuot city from March 9-12 provided an opportunity for both local and foreign businesses to improve the processing of coffee for export and raise public awareness of Vietnamese coffee brand names.
Excerpts from a VOV interview with Dang Le Nguyen Vu, who has made significant contributions to the Vietnamese coffee sector.
Reporter: Could you tell us about why the festival was focused on Buon Ma Thuot coffee connectivity and development?
Vu: The Vietnamese coffee sector can make a good profit of around 20 billion dollars per year if it has a long-term development strategy. In the current situation, local businesses need to cooperate closely in the production and processing of coffee for export as well as in the building of brand names.
In the face of tough competition in the world, they also need to corner the domestic market and gain the upper hand over foreign businesses operating in the country.
Reporter: In a speech delivered at the festival, Deputy Prime Minister Nguyen Thien Nhan cited an example for consideration. He said the garment and textile sector has to import 51 percent of the machinery, equipment and materials for production, but earns a profit 1.5 times higher than the coffee sector. In your opinion, what should be done to help this sector?
Vu: I think we should create a national coffee association as proposed recently to policy makers. In the near future, we will have to clarify the structure of the association to help them devise appropriate policies.
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| Dang Le Nguyen Vu, Chairman and General Director of Trung Nguyen Coffee Group |
It is urgent to conduct a study into the world’s coffee industry and learn from other sectors involved in both production and business.
Reporter: As it seems difficult to promote coffee brand names due to high costs, what has Trung Nguyen done in this connection?
Vu: In the first place, it requires a lot of money for advertisement in the foreign media. For example, it costs around US$30,000 - 50,000 for a corner of the Wall Street Journal. In the case of Trung Nguyen, we have chosen the US to run commercials with updated information about Trung Nguyen coffee in print, on television and online.
If local businesses follow suit, Americans will learn more about Vietnamese coffee and other famous products as well.
Reporter: Thank you.