According to Shinji Hirai, Chief Representative of Japan Trade Promotion Organization (JETRO) in Vietnam, during the Japan Vietnam Festival (JVF) set to be underway from April 17-18 in Ho Chi Minh City, Japanese businesses are keen to bring traditional products to Vietnam such as ice cream, furikake rice spices, natto beans, apple cider vinegar, and eye care masks.
These are food items, daily necessities, and cosmetics originating from Japan that are highly appreciated by Vietnamese consumers, e-commerce sites and retailers.
Up to 50% of Japanese businesses were connected by JETRO to display their products at this first event to get acquainted with the Vietnamese market.
Although the number of products sold in 2020 suffered a fall compared to the previous year, the total sales of these items surged by 5%. Cosmetics, basic necessities, especially Japanese foods are currently being consumed well in Vietnam.
Shinji Hirai notes that Vietnamese people’s interest in Japanese food is increasing and many Japanese businesses are pinning their high hope on the Vietnamese market. Therefore, the Japan Mall project and online platform BtoB “Japan Street” are focused on promoting development by JETRO in order to bring the above items to Vietnamese consumers.
Specifically, in Vietnam, the forerunner of the project started operation in 2016 and by 2020, 7 units including EC e-commerce sites and retailers participated in the project, including FamilyMart, Hachi Hachi , Kamereo.
In addition, JETRO has been operating the online platform “Japan Street” in early 2021, allowing to support the distribution of Japanese products throughout the year. Accordingly, there have been than 500 providers registered on the website and it is expected that the number will increase by many times in the time ahead.
“With the use of this platform, we will further promote the Japan Mall project via expanding and commercially distributing Japanese products into Vietnam,” says the JETRO chief representative.
Previously, Vietnam was mainly chosen by Japanese enterprises to be the production place of goods, but now it has become a consuming market for Japanese products. Notably Vietnam ranked 5th in the top 10 markets importing Japanese agro- forestry – fishery products with a turnover of JPY 53.5 billion in 2020, Shinji Hirai emphasizes.