Westfood is honored to welcome the esteemed Secretary of the Can Tho City Party Committee, Mr. Nguyen Van Hieu, and the accompanying delegation on a meaningful visit and work session. During the meeting, Westfood presented the opportunities and challenges in the domestic and export agricultural markets, proposing specific recommendations to governmental authorities to foster the sustainable development of Vietnam’s agricultural sector.
Established on June 18, 2003, Westfood – officially known as Westfood Food Processing Export Joint Stock Company – has experienced an impressive growth trajectory over 20 years. From an initial capital of 9 billion VND, it has surged thirtyfold to 302 billion VND. In 2023, the company achieved a revenue of 300 billion VND and anticipates a rise to 430 billion in 2024. The workforce has also significantly expanded from 300 to over 500 employees. Starting with a single canning line, Westfood now boasts one of Vietnam’s most modern plants with advanced production lines from Europe, Japan, and South Korea, showcasing its formidable strength and potential in the food processing industry.
The meeting took place in a warm and friendly atmosphere between the Can Tho City Party Committee delegation and Ms. Nguyen Thi Minh Nguyet, Chairwoman and CEO of Westfood.
The meeting was warmly conducted between the Can Tho City Party delegation and Ms. Nguyen Thi Minh Nguyet, Chairwoman and CEO of Westfood. Recently, the company was honored to host Mr. Nguyen Van Hieu – Alternate Member of the Central Party Committee, Secretary of the Can Tho City Party Committee; permanent representatives of the People’s Committee of Can Tho City; leaders from the City Party Committee Office, People’s Committee, and various city departments. The Westfood representatives discussed the challenges and opportunities faced by the domestic and export markets for agricultural products. Currently, Vietnam processes only 12-17% of its annual fruit and vegetable output, yet these products are rapidly growing in markets such as the EU and the USA, with a compounded annual growth rate (CAGR) of 5.5% from 2023 to 2032. This represents a significant opportunity for Westfood, located in the agricultural heartland of the Mekong Delta, with its state-of-the-art technology and development foundation.
The Can Tho City Party Committee delegation visited the fresh produce and fruit warehouse of Westfood.
In 2024, Vietnamese agriculture benefits from increasing global demand amid production declines in major countries like Peru and Costa Rica due to El Nino. The Chinese market also shows a strong demand for durian, presenting further opportunities for Westfood’s growth. However, export challenges persist with rising sea freight costs and a shortage of container supply as China intensifies its exports to the USA, prolonging shipment schedules from Vietnam, especially to Europe.
In light of these market realities, Westfood has made appeals for collaborative support from local government authorities to emphasize the value of connections between businesses and local farmers. Specifically, the company seeks effective state support in agricultural planning, crop transition, attracting labor from neighboring districts, and fostering connections with local farmers and cooperatives throughout various regions to ensure sustainable cultivation and marketing of diverse agricultural products. Particularly, with the ambition to bring region-specific specialties like the GLOBAL GAP certified MD2 pineapple from Hau Giang to domestic consumers, Westfood desires further facilitation from authorities to connect more with major supermarket chains both within and outside the province to enhance the value of local agricultural products.
Westfood’s agricultural processing follows international standards.
With its advantages of fresh raw materials, a modern machinery system, strong investment in product research and development, and processes meeting European standards, combined with support from various government levels, Westfood is confident in contributing significantly to the robust development of Vietnam’s agricultural products on both domestic and international markets.
