HCM City businesses advised to explore Middle East, African markets - HCM City businesses advised to explore Middle East, African markets - Website Ho Chi Minh City
Middle East and African countries with strong consumption power are promising markets for Vietnamese exporters, asserted experts during a conference on June 12 in Ho Chi Minh City.
According to Pham Trung Nghia, deputy head of the Africa, West and South Market Department under the Ministry of Industry and Trade, the African countries are in need of consumer goods and machinery, while Middle East markets have high demand for foodstuff, agricultural products and seafood.
With high economic growth and many economic integration programmes, the countries are leading the world in the improvement of the investment and business environment, he said.
Currently, they are outstanding countries in terms of labour resources, the supply of production materials and tourism, according to Nghia.
He pointed out that many Vietnamese firms have succeeded in the Middle East and African markets, winning a large market share in some areas. However, he also warned that businesses should get thorough information of the markets to design a suitable strategy.
For example, foodstuff, cosmetics and pharmaceuticals must be recognised with Halal certification, which proves that they are suitable for Muslims, before entering Arabian countries, he said. In addition, enterprises should avoid advertisements with sensitive images for their products.
In the first four months of this year, exports to the African market increased 14.1 percent year on year, mostly from computers, electronics, footwear, construction materials, agricultural products and seafood, he noted.
However, a decrease was seen in exports of rice due to strong competition from Thailand and India, added Nghia.