International visitors experience GC Food products at Vietnam Foodexpo 2024. Photo: N.H

Green Key to Open the Market

At the Vietnam International Food Industry Exhibition 2024 (Vietnam Foodexpo 2024), Mr. Nguyen Van Thu, Chairman of the Board of Directors of GC Food Joint Stock Company (GC Food) shared with Customs Magazine a lot of very encouraging information. Accordingly, this year, the company has expanded to a number of new potential markets such as India, the Middle East, Eastern Europe, etc., thereby expanding the coverage of GC Food products to 22 countries. In particular, the export output for the Indian market alone this year is expected to reach around 1,000 tons.

Regarding the Vietnam Foodexpo 2024 exhibition, Mr. Thu said that the number of international customers visiting GC Food's booth this year has shown positive growth compared to the 2023 edition, showing the bounce back of the market demand after the economic recession. In particular, by determining the company's core values ​​from the beginning as sustainable development, environmental protection, and optimizing the use of input materials, GC Food has been somewhat ready for new customer requirements related to sustainable development. The company has been working with stakeholders to be able to issue its first ESG report in March 2025.

Mr. Thu also revealed that meeting customer requirements for quality, environmental and sustainability criteria has helped GC Food grow 20% in the number of orders and expects to increase total orders by 20-30% in the coming years. As a result, revenue is growing according to the plan set out at the Shareholders' Meeting earlier this year. Even the profit margin has improved thanks to solutions to expand raw material areas, creating a stable source of raw materials and reducing product costs.

Similarly, Vinasoy soy milk products of Quang Ngai Sugar Joint Stock Company have also been exported to many large markets such as the EU, the US, China, Japan, etc. Dr. Le Hoang Duy, Director of Vinasoy Soybean Application Research Center, said that the key to conquering markets is to meet green standards. Specifically, Vinasoy invests in a residue-free production process (Okara), which helps optimize the use of soybeans and minimize waste in the production of plant-based milk.

Ms. Phan Thi Bich Phuong, Head of Quality System Department, Ben Tre Import-Export Joint Stock Company (Betrimex) said that the company focuses on exploiting the full value of coconuts, minimizing waste, and implementing carbon offset and renewable energy projects. The company also promotes support for farmers through sustainable and digital farming models, aiming to increase income and improve livelihoods for rural communities. These efforts not only contribute to minimizing environmental impacts but also increase export value, affirming the position of Vietnamese products in the international market.

“Plus points" for goods

From the perspective of Vietnamese goods importers, Mr. Ömer Oktay, Director of Sustainable Development of Voicevale Import Company (UK) highly appreciated the cooperation potential between the EU and Vietnam in the field of manufacturing and importing and exporting green standard products. With the increasing demand from the EU market for sustainable products, Vietnam are exposed to many advantages from abundant raw materials to a strong commitment to green development. Mr. Ömer Oktay emphasized that ensuring high environmental and social standards will not only help Vietnamese enterprises gain deeper access to the EU supply chain in general and the UK in particular, but also increase brand value and competitiveness in the international market.

Ms. Phan Thi Bich Phuong, Head of Quality System Department, Ben Tre Import-Export Joint Stock Company (Betrimex) said that the company focuses on exploiting the full value of coconuts, minimizing waste, and implementing carbon offset and renewable energy projects. The company also promotes support for farmers through sustainable and digital farming models, aiming to increase income and improve livelihoods for rural communities. These efforts not only contribute to minimizing environmental impacts but also increase export value, affirming the position of Vietnamese products in the international market.

Mr. Jean-Jacques Bouflet, Vice President in charge of Policy of the European Chamber of Commerce in Vietnam (EuroCham) also affirmed that meeting green standards is no longer a voluntary choice but an important requirement for Vietnamese enterprises to maintain and expand the market. Accordingly, enterprises need to focus on improving sustainability in the production process, and at the same time need to achieve internationally recognized certifications such as GlobalG.A.P, organic certification, and fair trade. “These certifications not only open the door to the EU market but also build trust and credibility from buyers and consumers, who are increasingly concerned about the origin and sustainability of products,” said Mr. Jean-Jacques Bouflet.

Mr. Jean-Jacques Bouflet also recommended that enterprises prepare for future requirements related to carbon reporting. While the EU Carbon Border Adjustment Mechanism (CBAM) currently focuses on industrial sectors, it is likely to expand to the agricultural sector in the future. Vietnamese businesses should start measuring and reporting their carbon emissions now, and explore ways to reduce their carbon footprint through more sustainable production and logistics. Early preparation in this area will enable businesses to adapt quickly when regulations come into force, ensuring continued access to the EU market.