FBA Issue 23: November / December 2008
Vietnam's leading feed and livestock exhibit takes the centre stage again on November 25 to 27 as the third annual VIETSTOCK 2008 returns to Hanoi's National Convention Centre to showcase the latest in feed, livestock and meat processing.
Hosted by the Department of Livestock Production, VIETSTOCK 2008 is expected to draw 5,000 visitors with a wide array of newfangled products and technologies presented by 150 exhibitors. These will include renowned conglomerates such as Charoen Pokphand (CP) Vietnam, Emivest (Leong Hup), Proconco and PT Japfa Comfeed.
Vietnam's entry into the World Trade Organization has catapulted the country's economic performance. According to the Asian Development Bank (ADB), the country is now considered the fastest growing market in Southeast Asia. According to the ADB, Vietnam's agricultural exports will continue expanding at a rapid pace while domestic demand continues to boom. ADB's Asia Prospect Report 2007 states that Vietnam will obtain GDP growth rate of 8.5 percent in 2008.
According to the Ministry of Agriculture and Rural Development (MARD) states that Vietnam's livestock sector has posted a very encouraging 8.9 percent annual growth rate in the last six years as more farmers have shifted from small scale operations to large scale farms with integrated breeding facilities. A vast number of large-scale livestock farmers have adapted advanced scientific technology in hybrid development, fodder production and farming. The government's farm development policies have also helped increase the country's number of livestock farms from 1,761 in 2001 to 17, 721 in 2006. This growth has resulted in increased demand for feed and has attracted new investment in feed mills.
With all these positive developments powering this emerging economy's agribusiness sector, VIETSTOCK 2008 will be the ideal venue to capture more business opportunities from the ever-increasing market growth of Vietnam.
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