Japanese food companies increase presence in Vietnam

Processing seafood for exports (Illustrative image. Source: VNA)

Hanoi (VNA) – Japanese food businesses are seeking to increase their presence in Vietnam, according to Dau tu (Investment) newspaper.

Early this year, the Japan Best Foods company poured more than 14 million USD into processing and preserving meat products at Long Duc industrial park in the southern province of Dong Nai.

The CLK Cold Storage Company Limited – a joint venture between Cool Japan Fund, Japan Logistics Systems and Kline Group - also recently injected 18 million USD to build a cold storage facility in the southern province of Binh Duong.

Naoki Saka, Director General of CLK Cold Storage, said the establishment of a cold supply chain is essential to meet rising demand for food safety.

A delegation of nearly 20 Japanese businesses, including those active in food processing, recently arrived in Ho Chi Minh City to explore investment opportunities.

According to Tatsuhiro Shindo, Vice President of the Japan External Trade Organisation (JETRO), Japanese companies are interested in Vietnam, especially its southern region, including HCM City, Ba Ria – Vung Tau and Dong Nai.

Meanwhile, Takimoto Koji, Chief Representative of JETRO in HCM City, told Dau tu reporters that Vietnamese products like dried fruits, noodle, processed seafood, beef and wine are popular among Japanese businesses.

Many Japanese food companies have entered Vietnam via supermarkets, convenience stores and restaurants. 

Apart from trade centres such as AEON which is present in HCM City, Hanoi and Binh Duong, the number of FamilyMart and Minishop convenience stores has been increasing.

Statistics showed that there are more than 1,000 Japanese restaurants in Vietnam, including 659 in HCM City.

In 2016, Vietnam was one of the five biggest importers of Japanese farm produce and food. The Southeast Asian country spends nearly 4 trillion VND per year purchasing seafood products from Japan.