According to Ms. Ly Kim Chi - Chairwoman of the Ho Chi Minh City Food Association, the market space for Vietnamese food businesses is still very large as global consumption demand is strongly shifting to green, healthy and transparent origin product groups. The global healthy food market is forecast to exceed 863 billion USD in 2026. Meanwhile, Vietnam's export share in traditional markets such as Europe, the US or Japan is still quite modest, only about 2%.
According to Dr. Can Van Luc - Member of the National Monetary and Financial Policy Advisory Council - assessing, Ho Chi Minh City is facing a "diamond opportunity" thanks to a series of new special mechanisms.
However, he also pointed out many challenges for Vietnamese businesses, especially limitations in competitiveness, digital transformation and innovation. According to him, businesses need to proactively restructure their finances, improve labor productivity and soon adapt to global digital economic standards to make the most of new incentive mechanisms.
According to Mr. Nguyen Ngoc Hoa - Chairman of the Ho Chi Minh City Business Association, the business community is currently very ready for a new growth target.
One of the major problems today is digital transformation, green transformation and application of science and technology. According to Mr. Hoa, for large enterprises, this is not too big an obstacle, but for small and medium-sized enterprises, the cost of technology investment of billions of VND is a very large pressure.
Therefore, there needs to be a mechanism to support technology businesses to develop common solutions so that small and medium-sized enterprises can rent and use them monthly or annually instead of having to invest entirely from the beginning.
Besides the capital issue, many businesses hope to have more favorable management policies, reform food safety procedures from "pre-inspection" to "post-inspection" and simplify specialized inspection.
This view has also been agreed upon by many economic experts who believe that improving the business environment and reducing administrative procedures will be important factors to help businesses accelerate in the new competitive period.
