Vietnam's Coconut Industry: Great Opportunity to Affirm Global Position

CocoNext 2024, themed “Empowering Vietnamese Coconut Value Chain,” officially opened as part of the annual CocoNext International Coconut Conference, initiated by Betrimex and co-hosted with the Vietnam Coconut Association. The event featured innovative ideas and offered experiences through Betrimex’s creative exhibition spaces.

A promising new era

With three main themes “Coconut industry - Strategy for sustainable development”, “Innovation and technology - Empowering the value chain” and “Coconut industry - Business launchpad in the new era”, CocoNext 2024 brought useful information and practical solutions to address current challenges of the coconut industry. Discussion sessions focused on exploring insightful policies on sustainable development, applying advanced technologies to production and value chain management, promoting export potential, and optimizing the value chain for the coconut industry. At the same time, innovative models from leading coconut countries were also introduced, opening up many opportunities for deep and long-term international cooperation.

Especially at CocoNext 2024, enhancing technological application to create a breakthrough development for the coconut industry was highly focused by experts because, after all, integrating advanced technologies into the coconut industry was not only a choice but also a prerequisite for sustainable growth and coconut value chain. In other words, technological advances promise to lead the coconut industry to new heights, from innovative packaging techniques and transformative approaches to food processing, healthcare, sustainable energy and new product development.

At a macro level, CocoNext 2024 also emphasized the importance of shaping an overall strategy to turn coconut into one of Vietnam's spearhead economic sectors. Attracting the participation, sharing and information exchanging of more than 200 representatives from Vietnamese and international government agencies, business leaders and experts from the world's leading coconut countries, the conference not only affirmed Vietnam's position in the world coconut industry but also created a strong driving force to promote the growth of the coconut industry.

CocoNext joins forces to enhance the coconut value chain

As the brainstormer and promoter of CocoNext event series, Ms. Dang Huynh Uc My, Chairwoman of the Board of Directors of Betrimex, said that CocoNext is not only a place to share and exchange information between world-leading experts but also carries the mission of initiating breakthrough changes, reshaping the landscape and opening a new era for the coconut industry. This is also a common commitment of all stakeholders in the coconut value chain

In recent years, the Vietnamese coconut industry has made breakthrough growth steps. From US$280 million in 2010, the coconut industry obtained the export value of up to US$1.64 billion in 2023. With a total coconut growing area of over 200,000 ha, Vietnam is currently the 4th largest exporter of coconut products in the Asia-Pacific region and holds the 4th position in terms of total value in the international market. With its strategic importance, coconut trees have been planned as one of six key industrial crops and the Ministry of Agriculture and Rural Development also launched the Coconut Development Project to 2030 with very clear and ambitious goals. “Accompanying the Government-initiated Coconut Development Project, CocoNext will become a bridge for stakeholders in the coconut value chain to promote the strength of cooperation and maximize the valuable natural potential of coconut trees. At the same time, CocoNext also creates innovative solutions and introduces advanced technologies to achieve sustainable growth goals and enhance the coconut value chain,” she emphasized.

According to My, to realize the above strategic vision, CocoNext will initiate and lead new steps and shape the future of the coconut industry by creating the Coconut Next Chapter, the Coconut Next Trend, and the Coconut Next Global Destination. CocoNext will also promote the positioning of Vietnam as a leading supplier and innovation center of the global coconut industry. “In that journey, Betrimex, as a leading coconut company in Vietnam and the 6th largest coconut producer in the world, we are committed to always taking the lead in expanding cooperation, accompanying stakeholders to deepen the coconut value chain, and making the Vietnamese coconut industry an Asian symbol and a typical industry of the century,” My affirmed.

By My Chau, Vietnam Business Forum