European F&B businesses seek opportunities in Vietnam

The EU-Vietnam Business Network (EVBN) will implement a trade promotion program for food and beverage in Ho Chi Minh City and Hanoi on February 28- March 3 to help European businesses access the potential market and seek partners.

Executives of 29 food and beverage businesses from 14 EU countries will attend seminars and workshops to study investment environment and quality food concepts in the country.

According to EVBN, EU businesses want to access Vietnam market in different fields, especially food and beverage, to prepare for the EU-Vietnam Free Trade Agreement (EVFTA) which comes into effect in 2018.

In late last year, a business delegation of 40 EU firms arrived in Vietnam to meet Vietnamese retailers and businesses. The Vietnam Foodexpo 2016 in HCM City in November attracted many producers from Italy, Poland, Germany, the Republic of Korea and Thailand to take part in.

Many foreign businesses have invested in Vietnam food and beverage market through M&A activities to own shares at a series of renowned beverage businesses. More than 50% of beverage market shares now are owned by foreign businesses.