Foreign cosmetic exhibitors introduce products in HCM City

Nearly 200 cosmetics producers and firms from Japan, the Republic of Korea (RoK), Singapore, Hong Kong (China) and India are displaying products and services at a fair in Ho Chi Minh City.

(Source: http://auschamvn.org)

Hanoi (VNA) – Nearly 200 cosmeticsproducers and firms from Japan, the Republic of Korea (RoK), Singapore, HongKong (China) and India are displaying products and services at the Mekong Beauty Show in Ho ChiMinh City.

The three-day event, which opened on June 15, aims to help exhibitors establishpartnerships with potential importers, thus expanding markets for theirproducts.

Notably, 80 enterprises from the RoK – famous for its cosmetics, attended theevent for the first time.

Vietnam is considered one of the most promising cosmetic markets in the MekongSub-region as some 60 percent of the country’s population are young peopleunder 35.

The International Monetary Fund forecasted that four nations in the region includingVietnam, Cambodia, Laos and Myanmar, will reach a combined GDP of 441 billionUSD by 2020. The region is an emerging market for consumption of beauty productswith annual estimated growth of 30 percent.

According to Nguyen Van Minh, Vice Chairman of the Vietnam Association of Oil, Aromas and Cosmetics, the Vietnamesemarket consumes 2 billion USD worth of cosmetics per year.

The number of middle-income consumers, who have high command for cosmetics inthe country, is predicted to rise to 33 million by 2020.-VNA

VNA