(TTDN) – The U.S. market currently has about 3 million Vietnamese expatriates who have a demand for products from their homeland. This presents an opportunity for Vietnamese startups to expand their exports.
Mrs. Jolie Nguyen, President of LNS International Corporation, shared about the opportunities and challenges of bringing products into the U.S. market. Mrs. Jolie Nguyen, President of LNS International Corporation, shared about the opportunities and challenges of bringing products into the U.S. market. Bringing Vietnamese Pride and Culture to the Overseas Vietnamese Community
The demand for Vietnamese cuisine among expatriates in the U.S. market is increasing, particularly for agricultural products and regional specialties. Speaking at the talk show “Golden Opportunities for Exporting Startups,” co-organized by LNS International Corporation, CT Choice, and Ca Men Production & Trading Co., Ltd. on November 15, Mrs. Jolie Nguyen, President of LNS International Corporation, stated that the U.S. is a potential market for Vietnamese products. According to statistics, there are currently about 7 million Vietnamese living abroad, with over 3 million residing in the U.S. alone.
“In the U.S., there are many distribution channels for Vietnamese products, such as markets, supermarkets, and e-commerce platforms like Amazon or Sayweee. It’s worth noting that Vietnamese expatriates in the U.S. always want to use products from their homeland because these products evoke memories of their childhood and their time living in Vietnam, bringing them a sense of national pride,” said Mrs. Jolie Nguyen.
Furthermore, according to Mrs. Jolie Nguyen, Vietnamese products are favored by customers for their quality and uniqueness compared to other products on the market. This presents an opportunity for Vietnamese businesses to expand their exports.
Recognizing the potential of the U.S. market, Mr. Nguyen Duc Nhat Thuan, Founder of Ca Men, shared that in June 2023, Ca Men signed an agreement with LNS International Corporation to officially export their snakehead fish rice porridge products to the U.S. To date, Ca Men has exported 3 containers of snakehead fish rice porridge, with a total of nearly 150,000 packs, generating revenue of nearly VND 5 billion.
In addition, according to Mr. Nguyen Duc Nhat Thuan, thanks to the success of exporting to the U.S., Ca Men has also had the opportunity to connect with partners involved in the export and import of consumer goods to markets such as Canada, Singapore, Australia, and New Zealand.
In fact, besides Ca Men, there are also many other startups exporting Vietnamese specialty products and agricultural products to the U.S. market. Duy Anh Foods is an example. Although specific figures were not disclosed, Mr. Le Duy Toan, CEO of Duy Anh Foods, shared that the company is currently regularly exporting traditional rice paper products—a specialty of Cu Chi District, Ho Chi Minh City—to the U.S. market. What’s encouraging is that in addition to the U.S. market, the company has also had the opportunity to reach many customers in other countries.
Meeting Quality and Standards: The “Passport” to Winning Over Consumers
Although the demand for Vietnamese products in the U.S. market is significant, accessing this market poses some challenges in terms of time, cost, etc. Specifically, the geographical distance causes Vietnamese businesses to lose their advantage in terms of time and transportation costs. Additionally, for food products, transportation must ensure freshness and intactness. Moreover, businesses must strictly comply with the regulations of agencies such as the U.S. Department of Agriculture (USDA) and the U.S. Food and Drug Administration (FDA).
In addition to the aforementioned difficulties, according to Mrs. Jolie Nguyen, many Vietnamese startups have packaging that is not visually appealing or suitable for the foreign market.
Therefore, businesses aiming to export to the U.S. need to prepare documentation for building factories, production management guidelines, risk management protocols, and quality management records depending on the product type. These are essential “passports” that help products clear customs easily without encountering any barriers.
Particularly, manufacturers must ensure that product packaging is standardized, with complete information on nutritional facts, and the displayed information must be phoneticized depending on the market, including additional product warnings if necessary.
With over 20 years of experience in the import-export field, Mrs. Jolie advised businesses, especially startups, that the consumption of Vietnamese products abroad largely depends on media coverage in Vietnam. Foreign customers are very quick to “catch trends” when something becomes popular in Vietnam; it will eventually become available abroad. Many businesses, seeing this, believe that any export path will do (hand-carried, through informal channels), as long as the products reach the customers. However, this is a mistaken mindset. Businesses must follow the formal route, providing quality products that meet requirements, and not damage their reputation abroad. “Products must be good to retain customers,” Mrs. Jolie emphasized.
Mr. Nguyen Duc Nhat Thuan – Founder of Ca Men: Efforts to Change to Meet Market Demands
Initially, when Ca Men was launched, all processes were done manually. However, thanks to the support and advice on production lines and technology from LNS, Ca Men has been making efforts to ensure that their products are professionally packaged while still retaining their flavor, so that after enjoying them, people can find the taste and memories of their childhood.
Economic Expert Huynh Phuoc Nghia: There Needs to Be Specific Policies to Promote Agricultural Export Startups
Vietnam is a country with an advantage in agricultural raw materials and specialties. However, the government needs to have more specific policies to promote investment in startups in the agricultural export sector.
In particular, the ability to build brands for startups is a crucial factor for successful exports. Businesses must standardize processes from the beginning, ensure product quality in-depth, register for intellectual property protection, and engage in brand communication.
