An Open Road for Vietnamese Agricultural Products to Enter the US Market

On January 4, 2024, in Ho Chi Minh City, the Vietnamese Brand Research and Development Center in collaboration with the Vietnam Union of Science and Technology Associations (VUSTA) and other relevant agencies organized the "Vietnam - US Trade Promotion Forum" and the "Vietnamese Enterprises with Outstanding Creativity Awards - 6th Time in 2023" ceremony.

Deputy Minister of Agriculture and Rural Development Phung Duc Tien and Deputy Minister of Science and Technology Hoang Minh awarded trophies and flowers to excellent, exemplary and innovative businesses in 2023

 

The forum had the presence of Deputy Minister of Agriculture and Rural Development Phung Duc Tien; Deputy Minister of Science and Technology Hoang Minh and representatives of leaders of central agencies and departments; Representatives of local provinces and businesses.

 

MSc, Journalist Phan Thi My Yen - President of the Vietnamese Brand Research and Development Center, Standing Vice President cum General Secretary of the Vietnam Union of Science and Technology Associations (VUSTA).

 

MSc., journalist Phan Thị Mỹ Yến, the Chairwoman of the Vietnamese Brand Research and Development Center and the Standing Deputy Vice Chairman cum Secretary-General of the Vietnam Union of Science and Technology Associations (VUSTA), stated that Vietnamese agricultural and food products currently lack a strong position and high value. They are primarily exported in raw form, and the processing rate remains high. Accessing foreign markets poses many difficulties and challenges.

The reason behind this is that Vietnamese agricultural products have not yet established a scientific brand, with investment and production processes lacking systematic development to create high-quality products with reputable brands, capable of competing with foreign products.

"Through surveys of U.S. supermarkets, we have observed that Vietnam's agricultural product potential is enormous, but the majority carries foreign brands. Vietnam mainly exports raw products," said Ms. Yen

 

Deputy Minister of Agriculture and Rural Development Phung Duc Tien spoke at the Forum

 

According to Deputy Minister of Agriculture and Rural Development Phùng Đức Tiến, the "Vietnam - US Trade Promotion Forum" is the most meaningful program at this time when Vietnam and the United States are strengthening comprehensive, multilateral, and bilateral trade cooperation, especially in the field of economics. This is an opportunity for Vietnamese businesses to facilitate the export of goods to the US market, develop sales, increase corporate reputation, affirm their brand, and develop sustainably.

In 2023, despite facing many challenges, with the attention of the Central Committee, the National Assembly, the Government, and especially the Prime Minister, Vietnamese agriculture has reached global heights. Vietnam has strived to affirm its position as the third largest in Southeast Asia and the 13th in the world in terms of import and export.

Vietnamese agricultural and food products are increasingly penetrating international markets widely, and export capacity is being improved. Products with the Vietnamese brand are increasingly trusted by consumers around the world. The United States is a strong market with a large consumption capacity. However, entering this market is a challenge for Vietnamese businesses.

 

Dr. Le Dang Doanh, Senior Economic Expert shares about opportunities and challenges when exporting goods and agricultural products to the US

 

Deputy Minister Phùng Đức Tiến believes that science and technology has played an important role in helping to increase productivity, output, and quality of agricultural products. The impact of the 4th Industrial Revolution has entered all aspects of life, economy, and society. In the past time, thanks to the innovation of science and technology, the application of mechanization, biotechnology, etc., the agricultural sector has made great progress.

In the coming time, the Ministry of Agriculture and Rural Development (MARD) will continue to work with the Vietnam Union of Science and Technology Associations (VUSTA), local government, and businesses to promote the export of agricultural products to the United States with the maximum output and higher value in the future. This will contribute to the growth of agriculture, which is truly the mainstay of the economy.

The Vietnam International Exhibition of Agricultural Products, Equipment & Technology - Growtech Vietnam is organized to effectively support Vietnamese businesses in the export of agricultural products, promote connections between distribution channels, foreign importers, and domestic production and export enterprises. It is an opportunity for businesses to promote their image and expand the US market in particular and the world in general.

 

Images of high-tech agricultural products at Growtech Vietnam

 

2 million Vietnamese Americans - A highly receptive market for Vietnamese agricultural products

From a professional perspective, Dr. Le Dang Doanh, a senior economist, believes that there are great opportunities for Vietnamese agricultural products. Many characteristic Vietnamese agricultural products such as coffee, pepper... but the US does not have the strength to produce.

According to Dr. Le Dang Doanh, Chinese goods exported to the US are subject to a 270% tax, but the same goods with Vietnamese labels are subject to a 0% tax. Therefore, US agencies strictly inspect, investigate and take punitive measures against fraud in the origin of goods. Therefore, according to Dr. Doanh, Vietnamese businesses need to cooperate honestly and transparently with American businesses to increase added value, which will be more beneficial; at the same time, consider legal discipline, conditions for green, clean, environment, recycling, waste, intellectual property conditions...

“With 2 million Vietnamese Americans, this will be a highly receptive market for Vietnamese agricultural products,” said economic expert Le Dang Doanh.

 

 

On this occasion, the Vietnamese-American Business Council, in collaboration with the Vietnam Association of Science and Technology Enterprises, signed a cooperation agreement for investment development, market expansion, and scientific-technological collaboration between the United States and Vietnam.

Source: Various

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GROWTECH VIETNAM 2024 - THE INTERNATIONAL EXHIBITION OF AGRICULTURAL MACHINERY EQUIPMENT IN VIETNAM - Annual Rendezvous of Importers, Agents, Distributors, and Farmers in the Agricultural Industry of Southeast Asia in Vietnam.

⏰ Time: November 13 - 16, 2024

? Location: Saigon Exhibition and Convention Center - SECC, 799 Nguyen Van Linh, District 7, Ho Chi Minh City, Vietnam

☎ Phone: (+84) 28 3823 9052

? Email: [email protected]

 

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