SECC, Ho Chi Minh City

Korean business delegation finds investment opportunities for food processing at Vietnam Foodexpo 2018

Vietnam is considered an attractive destination for Korean businesses looking for investment in the food processing industry thanks to outstanding advantages such as high quality raw materials and developing domestic consumption market.

The ASEAN-Korea Center will coordinate with the Vietnam Trade Promotion Agency (VIETRADE) and the Vietnam Trade Office in Korea to send a delegation of South Korean trade and investment promotion delegation to Ho Chi Minh City from 14 to November 15, 1018 to promote cooperation between the two countries’ companies in the field of food processing.

Mr. Pham Khac Tuyen - Vietnam Trade Office in Korea exchanged with the press at Vietnam Foodexpo 2018 on Korean business delegation to Vietnam looking for business and investment opportunities

According to a statement from the ASEAN-Korea Center, the delegation will include representatives from the top 10 Korean food companies. They expect to set up a business network with major partners in Vietnam.

"Vietnam has shown the strongest economic growth among the 10 ASEAN members, with expected growth in 2018 reaching 7%. In particular, the Vietnamese Government recognizes that the food industry has contributed significantly to this growth.

This will be an important opportunity for Korean investors and businesses to seek new business opportunities", said Lee Hyuk, Secretary General of the Korea-ASEAN Center.

The Korean delegation will visit Long Hau Industrial Park in Long An on 14th November. This place has got good infrastructure and appropriate labor resources for Korean investment. On the same day, the delegation will visit the Vietnam International Food Industry Exhibition 2018 (Vietnam Foodexpo 2018) in Ho Chi Minh City to find potential investment partners and join face-to-face meetings.

The Korean Consulate General to Ho Chi Minh City and the Korea Trade and Investment Promotion Agency (KOTRA) will also host a series of sideline events to share business experiences and practical information in the food processing industry.

Vietnam and Korea are expanding their fields of cooperation in politics, economics, security, culture, education, science and technology. For Korean companies, the food industry in Vietnam has long been a very attractive industry to invest in. In 2014, Korea surpassed Japan to become the largest foreign investor in Vietnam and has maintained its national reputation for large investment in Vietnam since then with a total investment of USD 65 billion at the end of July, 2018. Currently, about 4,200 Korean companies are present in the Vietnamese market. Among them, many Korean companies are investing in Vietnam in the field of food processing.