Nguyen Binh Company to export fresh Vietnamese rice noodles to the world in 2024

DNHN - Nguyen Binh rice noodles, a brand producing fresh rice noodles, pho noodles, and fresh vermicelli in Ho Chi Minh City, is busy preparing its first export order after foreign partners began making enquiries in 2023.

Ms Nguyen Thi Binh, Director of Nguyen Binh Company, owner of the Nguyen Binh and Bun Thu Duc rice noodle brands, said that many customers in the US, Europe, and Australia have contacted her to discuss importing fresh rice noodles, pho noodles, and fresh vermicelli.

Nguyen Binh Company has rented land to build a factory in Ho Chi Minh City to expand its production capacity to supply the domestic market and future exports.

Initially, Nguyen Binh plans to export fresh rice noodles, pho noodles, and fresh vermicelli. All products will be frozen when exported.

“Nguyen Binh’s fresh rice noodles, pho noodles, and fresh vermicelli are very convenient for consumers. That’s because these products can be used immediately after thawing, have a long shelf life, and are easy to prepare without boiling them like dried noodles,” said Ms Binh.

Fresh rice noodles are currently the company’s main product, accounting for about 70% of its annual revenue. In comparison, pho noodles account for 10%, and other products (fresh vermicelli, banh canh noodles, mi quang noodles) account for the remaining 10%.

“The company is currently upgrading its factory to improve the quality of its rice noodles. During the production process, the company has replaced tap water with RO-filtered water for making rice noodles. In addition, a new production line for fresh vermicelli has been installed… These upgrades are also necessary preparations for Nguyen Binh’s product export plan in 2024,” said Ms Binh.

The owner of the Nguyen Binh rice noodle brand believes that although the potential is very high, the value of rice noodles or pho noodles is not as high as many other food products. Therefore, the estimated value of the first exported shipment will not be too large. However, if the market accepts it, it will be a significant amount thanks to the distribution resources of the partners.

Ms Binh hopes that if everything goes well, Nguyen Binh’s annual export revenue will be at least equal to 3-5 years of sales in Vietnam.

In 2018, the owner of the Nguyen Binh rice noodle brand also participated in a fundraising event on the Sharktank programme, seeking 8 million USD for a 20% stake in the company.

In addition to exporting fresh rice noodle products, Nguyen Binh is looking for investment partners to produce traditional fresh rice noodles in potential markets. Ms Binh said that a company that owns a supermarket chain in Berlin (Germany) wants to open a 2,500 m2 factory to produce traditional fresh rice noodles for the Vietnamese community in Germany.

“I will sell them the recipe, help them with the factory design, and equipment, and possibly supply some machinery. Money aside, this partnership is very meaningful to me because it opens up a new direction for me, which is how to sell the traditional fresh rice noodle recipe to more markets,” said Ms Binh.

It is understood that, apart from the time she refused to sell 49% of the company’s shares 7 years ago, a large Vietnamese producer of wheat flour and rice flour recently made an offer to buy the company, but was rejected. Ms Binh insists that she will never sell the company and will do her utmost to pass on the trade to her children.

However, the business owner also recognises the limitations of a family business and is therefore willing to cooperate with investors who want to develop together and seek profits from the Nguyen Binh rice noodle brand.

Nguyen Cuong