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Chairwoman of the Food and Foodstuff Association of Ho Chi Minh City Ly Kim Chi
said Vietnam remains an attractive destination for foreign investors.
Sharing the same view, an official of the Korea Chamber of Business in Vietnam
said Vietnamese consumers tend to use clean and safe products, that is why that
Korean firms will focus on offering products that meet organic and GlobalGAP
standards.
According to Chairwoman Chi, about 20 percent of domestic businesses have
switched to organic production.
As for medical equipment and pharmaceuticals, the domestic market is worth 9
billion USD each year with an annual growth of 14 percent. Due to limited
involvement by Vietnamese firms in the field, room for foreign rivals is huge.
Vietnam has signed several trade agreements with countries globally, recently
the European Union–Vietnam Free Trade Agreement after nine years of
negotiations, which has opened up export opportunities for Vietnamese goods,
especially agro-forestry-fisheries, and processed food.
Vice Chairman of the Ho Chi Minh City Medical Equipment Association Hua Phu Doan
said the country is now home to about 300 companies operating in medical
equipment, but they are of little added value and yet to meet demand for health
check-ups and treatment.
Experts suggested that authorities should issue policies to improve supply chain
and offer incentives to investors in the field.
Source: VNA
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