Vietnam is a developing market for food products, being still large enough for a lot of investors, as well as newcomers. To be successful in this fast sector, where the competition is increasing, businesses have to understand better the consumer demands and generate an exciting experience for their customers. In this article, our company formation consultants in Vietnam explain a few details related to manufacturing food products in Vietnam.
The food processing industry in Vietnam
Vietnam has a well-developed food processing sector. Factories in this country produce frozen fish fillets for the U.S. market and frozen eggplant slices for the market in Japan.
There are reports which are stating that the overall food processing sector has increased significantly, with more transparent and less complex paperwork being required. Our Vietnam company formation advisors can provide further detail on this matter. We can also help entrepreneurs who are interested to set up a company in this industry in Vietnam.
The local government has been able to successfully attract foreign and domestic investors in the food processing industry in Vietnam.
The country has also attempted to protect the domestic manufacturers by imposing high import taxes (rising from 20% to 40%) on certain food imports which compete with locally manufactured food products (such as snack foods, confectionary, ice cream, juices and so on). Besides helping you with manufacturing food products in Vietnam, get in touch with our specialists for other services. Accounting services can help businesses reduce unnecessary risks associated with their production and manufacturing processes. However, finding skilled personnel who are knowledgeable about accounting, tax, and law can be difficult for small and medium-sized businesses in particular. They can, however, use the services of our accountants in Vietnam.
The announcement application for manufacturing food products in Vietnam
To announce the standards for food products or materials which come in direct contact with food products, such as packaging, and which are produced in the country, the company which actually manufactures these food products has to file an announcement application with the right authorities.
This announcement application must include, among others:
• an original copy of the filled in announcement form on quality standards, signed and stamped by the representative of the business;
• two original copies of the announcement on quality standards issued and stamped by the business;
• a notarized copy of the business license of the company;
• other documents: our Vietnam company registration agents can offer more information on what these other documents consist of.
If you have more questions about manufacturing food products in Vietnam, or for assistance to open a company in Vietnam, please do not hesitate to contact us.